Loss Reserving

ICRFS-PLUS™ gives you the tools to produce the most reliable reserve distribution possible:
  1. Create a model that encapsulates the information in your data. The unique modelling framework has unparalleled flexibility that allows the data to speak for itself. The Model Display gives you a concise picture of the model.


  2. Use that information about the past to decide on the best choices for the future. Stability (or instability) of trends in the past indicates the most likely scenario for the future. The Validation option helps you decide how stable the trends are.


  3. Produce the forecast probability distributions for total reserve, liability streams, Value-at-Risk. This allows you to set reserves at your chosen risk level and determine risk-based capital requirements.

Models can be designed rapidly using a modelling Wizard. The Model Display shows you the structure of the model:
  • The changes in the mean in the development, accident and calendar period directions are modeled by one or more trends or levels. The final calendar trend of 0.1261 +- 0.0193 (in the display below left) represents social inflation of about 13% +- 2% per annum.


  • Variability about the mean – the process variability (or variance) – is modeled by one or more levels. The model below has higher process variability (as a percentage of the mean) in the last six development periods.



ICRFS-PLUS™ makes modelling and reporting easy:
  • Fast modelling. Models are created quickly by the modelling wizard. Graphs allow you to verify that model assumptions are satisfied for your data.


  • Easy report generation. Create reports from pre-defined templates in just a few clicks.


  • Effortless model updating and trend monitoring. Add the next years data and check that the existing model is still valid in just a few minutes.