CHICAGO (May 5, 2014) – Baker Tilly Virchow Krause, LLP (Baker Tilly) is presenting five educational sessions at the 2014 IASA Educational Conference and Business Show June 8-11, 2014, to provide finance and accounting professionals of insurance organizations with industry specific information on big data, the Affordable Care Act, SSAP 101, SOC 2 reporting and trends in privacy and security.
With the emergence of “Big Data,” global competition will force insurers to leverage data as a means to transition from their existing “model-driven” approach to a truly “data-driven” competitor. How are businesses pioneering this technology to win and shape their markets?
- Understand Big Data and why it presents technical challenges to traditional business intelligence architectures
- Learn more about Information Discovery
- Explore some sample use cases in the insurance industry
Hear some of the successes and failures of the medical loss ratio (MLR) regulations based on one company’s experiences, but also look to discuss with other health insurers what they have done to comply with the MLR requirements (while still attempting to maintain some level of profitability within their organization).
- Provide a refresher as to the MLR requirements of the PPACA
- Discuss one company’s experience implementing the requirements of PPACA
- Discuss lessons learned during the first three years of compliance with MLR requirements in an open forum
Baker Tilly will discuss ongoing privacy and security trends, focusing on how to proactively mitigate data breach and litigation risks. This interactive session provides an open forum for participants to share their own stories and concerns while diving into real world scenarios and best practices in risk management.
- Learn about recent trends in privacy and security breaches and regulation
- Discuss loss lessons and learn about challenges from other audience participants
- Review proactive risk mitigation strategies to protecting your company data
This session will discuss the status of proposed updates to the trust services principles and criteria, along with an overview of service organization controls (SOC) 2 trends in general. Participants will engage in a highly interactive session with the opportunity to learn from both the trainers and other peer participants.
- Gain an understanding of SOC 2 overall
- Discuss changes and updates to the SOC 2 principles and criteria
- Discuss challenges and best practices
Statement of Statutory Accounting Principles (SSAP) No. 101 brought about significant changes in tax loss contingencies, admissibility calculation and tax planning strategies. This session will discuss the key issues to consider under SSAP 101, including challenges and special circumstances within the calculation.
- Hear about challenges and special circumstances within the SSAP 101 guidance
- Walk through examples of key considerations applied in the SSAP 101 calculation
- Learn best practices in how you can apply the guidance under SSAP 101
For more information about the 2014 IASA Educational Conference and Business Show, visit www.iasa.org/conference.
About Baker Tilly Virchow Krause, LLP (bakertilly.com)
Baker Tilly Virchow Krause, LLP (Baker Tilly) is a nationally recognized, full-service accounting and advisory firm whose specialized professionals connect with clients and their businesses through refreshing candor and clear industry insight. With approximately 2,800 employees across the United States, Baker Tilly is ranked as one of the 15 largest accounting and advisory firms in the country. Headquartered in Chicago, Baker Tilly is an independent member of Baker Tilly International, a worldwide network of independent accounting and business advisory firms in 147 territories, with 33,600 professionals. The combined worldwide revenue of independent member firms is $3.4 billion.