Insureware
Long-tail liability risk metrics tailored to your company's experience
Major misconceptions about the loss reserving process are widespread. We debunk a critical loss reserving myth involving loss reserve upgrades that is pervasive in the insurance industry.
The powerpoint presentation is available archive here (275 KB) , alternatively, an online discussion can be found here.
Link ratios cannot measure calendar year social inflation
Thomas Mack identified the stochastic regression model that underlies volume weighted average link ratios. Other authors, including Murphy and Venter, have developed these ideas further. A graphical representation and regression formulation of link ratios makes it clear what assumptions underpin the methods and extensions thereof.
ICRFS™ is a high-powered analytical and data management system. Designed with the P&C actuary and senior executives in mind, for reserving, pricing and risk capital management, results are delivered in seconds.
Identified models in the Probabilistic Trend Family (PTF) and Multiple Probabilistic Trend Family (MPTF) modeling frameworks describe the trends in the three directions (development, accident, and calendar) along with the volatility around the trends.
ICRFS™ also includes all the familiar actuarial methods like Mack, the Bootstrap Technique, Volume Weighted Averages (Chain Ladder Ratios), and many others.
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Read more about the many solutions and benefits ICRFS™ provides.
