More than ever it is important to reduce the uncertainty involved in claims costs and the profitability of business written. Therefore an essential part of an insurance company's planning process is accurate and timely projection and understanding of claims reserving requirements.
Our specialised team has vast experience in building and executing models for claims reserving enabling analysis of development and deterioration of historic claims from an actuarial and statistical perspective.
Our bIntelligent solution enables you to:
- compare actuarial projections on a selection of accepted bases
- view projection of triangles grouped at any level
- assess likely required reserve for any lines of business
- answer questions such as What level of comfort do we need from our reserves? How do we demonstrate to regulators that we are not being excessively prudent? How would an unanticipated large claim impact on our reserves?
Analytical extensions
Claims triangulations forecast in real-time from MOPPS 2007
Chain-Ladder Model (CLM) to forecast IBNR:
- proportional development factors
- range of actuarial averaging bases
- error-handling & smoothing algorithms
- all chain measures (incurred/paid, gross/net, capped/uncapped).
Custom Analytical Extensions
- bespoke models
- integration with existing forecasting models and processes.
Project examples
Leading marine mutual liability insurer
Provided claims reserving assistance, including risk management and capital adequacy modelling.
German insurance and reinsurance company
Created claims reserving models fed by a data warehouse and with dynamic feeds of actuarial outputs back into analytics to enable flexible analysis of results.