ICFS-Plus: Actuarial Software for the Property and Causality Insurance Industry

Current and Future Research

Wizard design and functionality

Further study will be conducted into improving the model building wizard. Further functionality will be added resulting in greater flexibility for user-defined wizards.

Calculation of AIC and BIC

Further research is being conducted into the alternative adjustments applied to the calculation of AIC and BIC to see whether any improvements can be made in the calculation of these statistics. The effect of any change in recalculation will also be evaluated against the effect on optimisation and estimation.

Calculation of test statistics

Research is underway in the area of the calculation of test statistics for both constraints and parameter selection.

Faster algorithms

Algorithms for improving estimation and optimisation for MPTF are being investigated. Areas of development include the utilisation of new mathematical libraries, researching faster convergence algorithms along with algorithms that reuse a greater percentage of internal calculations.


The reporting module is being investigated and evaluated for enhancements.