NAIC Schedule P Industry Data

Convert your NAIC Schedule P data into an ICRFS-Plus™ database and quickly compare the volatility and trends in your own company with the industry using the fast modelling Wizard. Extract a wealth of information that you could not have extracted any other way by comparing your company to other companies and the industry. Every company is different, and not the same as the industry total. The ICRFS-Plus™ Schedule P database contains many variables, such as Line of Business, Company Name and Group Name, to make it easy to find the data you want. Each line of business is added together to give a “summary” triangle group that allows you to model the trends in the industry as a whole. Information in the “summary” data – which typically has a very low volatility as it covers a large amount of business – may alert you to changes that are disguised by the higher volatility in your own data. In the model of Private Passenger Auto Liability below, the calendar trends have been close to zero for losses per claim. However, there has been a jump of about 9% +- 2% in the losses per claim in the most recent two accident years. It is unlikely that this jump would be detectable in an individual company‘s data due to its higher process variability.

Drive ICRFS-Plus™ From Other Applications

The Excel macro that converts the data on the NAIC Schedule P CD into triangle groups in an ICRFS-Plus™ database is an example of what can be done with the power of the open interface (COM). The looping and conditional facilities of most programming languages, such as Visual Basic for Excel, give you almost unlimited ability to get data from corporate data sources or spreadsheets directly into an ICRFS-Plus™ database. You can even run wizards, models and forecasts, and return the output to your spreadsheet! Design your own reports, and run them on any group of triangles, in any databases.