Long-tail LoB reserving, pricing and
risk capital metrics
…tailored to your company’s volatility,
social inflation and correlation experience.
Read further to see how Insureware’s unique long-tail liability platform, ICRFS™, provides unique interpretable risk insights and can help you:
- Mitigate model specification risk and find the optimal statistical
model for individual lines of business, - design a single composite model for the whole company!,
- measure Calendar year trends, including economic
and social inflation changes, - obtain the right risk metrics for ORSA or Solvency II,
- meet IFRS 17 requirements,
- assess optimal Reinsurance programs,
- calculate reserves net of Reinsurance,
- calculate correlation driven by the data,
- manage Risk Capital,
- price and customize risk transfers such as ADCs and LPTs,
- test link ratio methods graphically and through regression formulations,
- access data for analysis within an easily navigatable database,
- provide robust supporting statistical evidence for loss reserve calculations.
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One Model. One Truth.
One Source for the Whole Company!
Long-tail liability insurers rely on many sources of data and analysis to manage and
assess risks.
ICRFS™ introduces a new standard in long-tail risk management
— delivering a unified,
enterprise-wide perspective.
Interactive Risk Analyses
One single composite model output facilitates interactive risk analyses:
- Interrogating myriad risk characteristics of the company with just mouse clicks during boardroom discussions with C-suite executives, chief actuaries, or other stakeholders based on one single composite model output.
- Including what If? analyses at warp speed
A Unified, Data-Driven Risk Model
Our Multiple Probabilistic Trend Family (MPTF) modelling framework identifies
a
single, optimal composite model across multiple lines of business
and segments.
The model is driven by the data, with future forecast assumptions made explicit and
auditable.
ICRFS™ explicitly measures and connects:
- Social inflation
- Impact of law reform
- Process volatility
- Trend relationships between Case Reserve Estimates and Paid Losses
- Emerging risks as they develop
- Common drivers across lines
- Volatility correlations between businesses and segments
The above, with the accompanying forecast distribution metrics, enables a genuinely enterprise-wide understanding of risk behaviour.
A Single Point of Reference for the Enterprise
ICRFS™ establishes a single, consistent point of reference for risk metrics across all lines of business, segments, and business units.
Rather than managing disconnected spreadsheets and competing views, decision-makers assess social inflation, volatility, correlations, and assumptions within one coherent framework — ensuring alignment across actuarial, risk, and executive functions.
Built for Decision-Makers and the Actuaries
Who Support Them
ICRFS™ empowers senior management to:
- Interactively explore and interrogate risk characteristics
- Run what-if scenarios and sensitivity analyses in real time
- Understand the implications of emerging trends before they materialise
For actuaries: trends, volatility and volatility correlations are measured from the data – and future assumptions can be directly connected to historical experience.
For executives: risk capital decisions are supported by a transparent, company-wide model that reflects the true risk profile of each portfolio.
Modelling Wizard for individual lines
A modelling wizard, optimisation algorithms, and comprehensive statistical diagnostics are used to rapidly identify the optimal, parsimonious model.
The model on a log scale is summarized by four charts:
- Development period trends;
- Accident period trends
- Calendar period trends
- Process volatility distributions, that is distribution of data about the trends
- The impact of emerging risks in real time
