What is Unique About ICRFS-PLUS™?


ICRFS-PLUS™ contains the unique PTF and MPTF modelling frameworks. These frameworks provide the flexibility to create a model that reproduces the trends and variability in real triangles of data and the correlations between them.


Information on trends and variability in the data allows you to make informed projections into the future.


Using these modelling frameworks, you design a model that reproduces the features in the data. In trastional actuarial terminology, it is like creating a special "method" that is the best method for that particular data.




A PTF model is described by four pictures that give you insutant informatin on what has been happening in that line of business. Communication is in terms of pictures.


* Assumptions about future trends and volatility are explicit and can be related to the historical experience.

* The models provide probability distributions for loss reserves by accident year, calendar year and total, which inlcude parameter uncertainty and process variability.

* Predictive aggregate loss distributions can be simulated at lightning speed. From these probablility distributions, risk-based capital requirements can be assessed and the Value@Risk determined.

* Reinsurance calculations allow you to quickly assess options for Adverse Development Cover, Finite Reinsurance and Stop Loss. FInd out how your risk-based capital requirements change under different reinsurance structures.

* Understand relationships bewteen Case Reserve Estimates, Paid Losses, Number of Claims Reported, Number of Claims Closed and Number of Cliams Open. Each can be modelled using the wizard in seconds and their corresponding models (pictures!) compared.

*Forecast distributions for future underwriting years, critical to pricing, can be produced.





ICRFS-PLUS™ also contains the Link Ratio Techniques (LRT) module and the Extended Link Ratio Family (ELRF) modelling framework. The latter allows you to test whether the assumptions behind link ratio techniques are satisfied by your data. Very often you will find that link ratios will give misleading results. .