ICRFS-Plus™ 10.2 Database

Setting up an ICRFS-Plus™ 10.2 Database

The unique and powerful information management facilities in ICRFS-Plus™ 10.2 allow you to navigate through your data easily and quickly. Setting up a database takes only a few seconds and requires no technical expertise. There are a number of ways of getting your data into the database. The quickest way will depend on how you have it stored now. If your data is in Excel spreadsheets in a consistent format, it is a simple process to describe that format, then import as many spreadsheets as you like into ICRFS-Plus™ 10.2. If you already have your triangle data in a database - say, Oracle, Microsoft Access or FoxPro - and you have some means of extracting the required data, we will work with you to create a streamlined process of converting it into an ICRFS-Plus™ 10.2 database.

When you receive additional data, it is a simple process to update the existing triangle groups. Data from Excel spreadsheets can be imported again, adding the new data and preserving any models you have already created. Alternatively, if the new data is in a database, it will be straightforward to modify the original conversion process to update existing triangles. This makes it easy to update models, forecast track and monitor trends.

A.M. Best data

A.M. Best data can now also be converted into an ICRFS-Plus™ 10.2 database using a VBA script running within Microsoft Excel. If you have already purchased the A.M. Best data, all you have to do is open a spreadsheet we supply and choose a few options. The database is then created for you, with each triangle group classified by variables such as Line of Business, Company Name and Country that allow you to find the data you need almost instantly.

A.M. Best schedule P data

A.M. Best data provide the following advantages over other data sources (eg: NAIC Schedule P).

A.M. Best conducts more stringent cross-checking to the data as filed by insurance companies.
Totals are provided across different types of business such as: Agency, Direct, LLoyds, Mutual, and others. Note that additional aggregation totals can be constructed using COM Automation.
Consolidated results are calculated so that information filed by a multi-unit organization is correctly split across the units. This ensures that aggregated totals are correct and accurately reflect the real world data.
Information is stated in current terms and thus results can be more accurately projected. Using this "As Is" data can provide more insight into a group's performance.
Further attributes are added to classify companies into meaningful attributes thus enabling company comparisons between companies to be conducted reliably.
Companies are given a unique A.M. Best number and can be tracked through time.

NAIC Schedule P

An example where the conversion process has already been implemented is the NAIC Schedule P data. See the following page on Schedule P for a list of benefits. This data can now be converted into an ICRFS-Plus™ 10.2 database using a VBA script running within Microsoft Excel. If you have already purchased the NAIC Schedule P CD, all you have to do is open a spreadsheet we supply and choose a few options. The database is then created for you, with each triangle group classified as for the A.M. Best data. The data is also aggregated for each line of business so that you can analyse industry trends and credibility-adjust your own company's trend estimates, if necessary. You do not adjust process variability, which is unique to your portfolio.

The database shown below contains the Schedule P data. Some of the triangle groups containing Workers Compensation data are shown.

There are up to 9 triangles for each long-tail line of business for each company. The window below shows the data extracted for company Ace American Ins Co and line of business Workers Compensation.

The Paid Losses incremental triangle data is shown below. With only a few clicks, you can construct a model for this data and identify trends that you might never suspect were there using other techniques.

The ICRFS-Plus™ 10.2 database does not only contain your triangle data. It is a complete information management system that allows you to manage your models and reports.

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Importing Triangle Data into ICRFS-Plus™ 10.2

Getting your triangle data into ICRFS-Plus™ 10.2 can be done quickly and easily. There are a number of ways of importing data - which one is best will depend on the format your data is in and the preferences of your IT people. The current options are:

Write a script file in one of the many languages that support the COM interface, to directly insert data into an ICRFS-Plus™ 10.2 database.
Customisable importing from Excel spreadsheets.
Export from your database into XML format.

Using Script Files to Import

If your triangle data can be accessed by any scripting language that supports the COM interface (eg Windows Script Host, Visual Basic for Excel, HTML scripting, S-Plus), it is straightforward to write a short script that will place your data directly in an ICRFS-Plus™ 10.2 database. We will be happy to give you any assistance required to do this as part of your initial license fee.

Importing from Excel Spreadsheets

All you need to do is to describe the layout of your Excel spreadsheets using the Template utilities we provide (contact Support for more information). In fact, if you send us an example spreadsheet, we'll set up the layout description for you. Once that has been done, all your spreadsheets can be imported into an ICRFS-Plus™ 10.2 database in one step.

When you have another year's data, the existing triangles within the ICRFS-Plus™ 10.2 database can be automatically expanded by importing the additional diagonal data from Excel spreadsheets with a few clicks. As any previous models are retained, you only need to check if any changes are needed, then you are ready to forecast.

Using XML to Import

If you are able to export your triangle data in XML format compatible with the ICRFS-Plus™ 10.2 XML schema, it can then be immediately imported into an ICRFS-Plus™ 10.2 database. If any conversion is required from your default XML format to our XML schema, we will be pleased to assist you.

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Importing Unit Record Data into ICRFS-Plus™ 10.2

If your data is not yet consolidated into triangles, we will work with you to set up a script that will create the triangles then import them into an ICRFS-Plus™ 10.2 database.

For More Information:

For details about importing Schedule P data, see:
http://www.insureware.com/Support/schedulep.php
See the following for a description of XML and the COM Interface as used in ICRFS-Plus™ 10.2.
A general introduction about XML can be found at:
http://www.nationmaster.com/encyclopedia/XML

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See Current and Future Research for more information on what we are working on for future versions.

Contact support@insureware.com with any enquiries