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

New functionality in ICRFS™ 2016 include the following

ICRFS™ 2016 is scheduled for release in Oct 2016.

New features introduced in ICRFS™ 2016 include:

System

  • 32-bit and 64-bit versions of the system are now available. 64-bit is scheduled for release late 4Q/2016.
  • Options now to be found under the Edit pull-down menu. See Display Preferences.

Database and Graphics

  • Database optimised for audit tracking and scaling. These changes are largely invisible to the end-user.
  • SQ Lite replaces MS Access as the default single-user type of database to ensure compatibility between 32-bit and 64-bit versions.

ELRF

  • Calendar year standard deviations and CVs in Forecast Summary and in Forecast Table.

Probabilistic Trend Family (PTF)

  • VMU, Variation in Mean Ultimate added. See PALD below.
  • Correlation between reserve and future forecast components in a combined forecast.

Multiple Probabilistic Trend Family (MPTF)

  • VMU, Variation in Mean Ultimate added. See PALD below.
  • Forecast setup allows sorting by cluster.

PALD / Reinsurance

  • What is VMU? The full distribution of the Variation in Mean Ultimate (a.k.a. Claims Development Result (CDR)) is now available via direct simulation

COM

  • A number of additional methods have been added, such as Conditional Statistics in PTF and Calendar SEs in ELRF. See the COM Reference.

To view the latest ICRFS-Plus™ Brochures click here


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

Contact support@insureware.com with any enquiries