ICRFS™ brochures and educational publications

ICRFS Software Suite brochure

ICRFS™ Software Suite brochure

ICRFS™ is a high-powered analytical and data management system and
the only actuarial software which treats insurance data arriving in calendar time
as an essential feature of its modeling solutions. Designed with the P&C actuary and
senior executives in mind, results are delivered in seconds.

The software is:

  • Small footprint
  • Fast to implement enterprise wide solution
  • Data organised according to your requirements
  • Models and forecast scenarios saved in databases
  • Simple to navigate
  • Easy to monitor, manage and update

You can download this brochure here.

ICRFS Importer brochure

ICRFS™ Importer

Access information instantly

  • Connect large repositories of unit record data with ICRFS™
  • Extract all database variables
  • Create triangles at any granularity for analysis
  • Convert claims table data into loss development triangles
  • Aggregate:
    • Across all values of variable
    • By particular values
    • Across multiple categories and values

You can download this brochure here.

Relational database brochure

Relational databases

Access information instantly

  • Small footprint
  • Fast to implement enterprise wide solution
  • Data organised according to your requirements
  • Models and forecast scenarios saved in databases
  • Simple to navigate
  • Easy to monitor, manage and update

You can download this brochure here here.

Modeling multiple long-tail liability lines brochure

Modeling multiple long-tail liability lines

Get the complete perspective

  • Introduction to probabilistic modeling frameworks
  • Common drivers and measuring trends
  • Correlations and their impact
  • One model for the whole company
  • Economic Balance Sheet and Solvency II metrics
  • Real life case studies!

You can download this brochure here.

Solvency II: One-year and ultimate year risk horizon brochure

Solvency II – one year and ultimate year
risk horizons for long-tail liabilities

  • Economic Balance Sheet
  • Solvency II Capital Requirement (SCR)
  • Technical Provisions
  • Market Value Margins (MVM)
  • IFRS 17
  • Fungibility and Ring Fencing
  • Consistency of metrics on updating
  • One year ahead metrics
  • Variation in Mean Ultimate

You can download this brochure here.

Pricing segments layers, and Reinsurance

Pricing: Segments, Layers and Reinsurance

  • Introduction to probabilistic modeling frameworks
  • Pricing future underwriting years including for the aggregate of multiple LOBs
  • Assessing optimal outward reinsurance
  • Layers and High Severity/Low Frequency
  • Adverse Development Cover
  • Real life case studies!

You can download this brochure here.

Understanding correlations and common drivers

Understanding correlations and common drivers

  • Purpose of correlation measures
  • Correlations are model dependent
  • Common accident year and calendar year drivers versus correlations
  • Impact of accident year drivers on pricing
  • Spurious correlations
  • Real life case studies!

You can download this brochure here.

Link Ratios, Mack, Murphy, Over-Dispersed Poisson, and the bootstrap technique

Link ratios, Mack, Murphy, Over-Dispersed Poisson,
and the bootstrap technique

Do link ratio methods work for your data?

  • Introduction to link ratio methods
  • Link ratio methods formulated as regression estimators
  • The Mack (Chain Ladder) and Murphy methods
  • The Extended Link Ratio Family (ELRF)
  • The bootstrap technique
  • Link ratio methods and correlation
  • Comparison with the optimal model in the PTF modeling framework
  • Real life case studies!

You can download this brochure here.

Did poor methodology sink Tower Group?

Did poor methodology sink Tower Group?

Tower Group: a failure in progress since 2007

  • A new calendar year trend that emerged in 2006 was steadily eroding their financial position and
    culminated in the failure of Tower Group in 2013 when under-reserving was finally noticed.
  • What took experts and stakeholders so long to see the problem?
  • Statistical models which describe calendar year trends in the data clearly demonstrate
    Tower Group was sinking way back to 2009!
  • Commonly used methodologies do not measure calendar year trends.
  • Using the right modeling tools in 2007 could have saved Tower Group. By 2011 it was far too late.

You can download this brochure here.

Best's Schedule P

Exclusive to Best's Schedule P subscribers

ELRF™ Best's Schedule P product box

ELRF™ Best's Schedule P

Empowered with this application you will obtain:

  • Offline access to Schedule P long-tail liability lines and derived financial metrics
  • Pre-calculated critical financial information including:
    • Reserves Held,
    • %IBNR,
    • Total Loss Ratio,
    • Survival Ratios,
    • and more!
  • Drill down by classification variables and sort metrics to glean hidden insights
  • All available Schedule P loss development arrays
  • Additional Reserves Held and Ultimates Held triangles (where they can be calculated)
  • All analytical tools included in ELRF™

Construct a complete picture of a company’s reported liabilities, their holdings, and their financial positioning in the industry.

This application is free with a Best’s Schedule P subscription.

Read more....

ICRFS Best's Schedule P product box

ICRFS™ Best's Schedule P

Add the innovative probabilistic modeling frameworks of ICRFS™ to the Best's Schedule P data with this premium application.

All of the benefits and features of ELRF™ Best’s Schedule P 2015 plus:

  • Probabilistic Trend Family (PTF) modeling framework:
    • Identify trends in the three directions (development, accident, and calendar);
    • Measure the volatility around the trends; and
    • Compare loss costs between companies and LOBs
  • Multiple Probabilistic Trend Family (MPTF) modeling framework:
    • Measure correlation between LOBs driven by the data;
    • Determine risk capital allocation and diversification credit for entire companies ;
    • Calculate Solvency II one-year ahead statistics and associated risk for individual Lines of Business or whole companies; and
    • Much more!

ICRFS™ Best's Schedule P requires ELRF™ Best's Schedule P and an active Best's Schedule P subscription.

Read more....

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