ICRFS-Plus™ 10.2 Demonstration videos
ICRFS-Plus™ is a tour de force of interactive software design and computational speed.
View the videos below to experience the numerous unique benefits and applications afforded by a paradigm shift.
Some of the (real) case studies modeled in the videos are also discussed briefly in the ICRFS-Plus™ brochure.
These videos are arranged in logical order so it is important that you view them that way.
If for any reason you are unable to view the training or demonstration videos, please contact our support staff at support@insureware.com and we will arrange to send you a copy of the videos on CD-Rom. You will be able to run the videos from the CD.
The training videos should be used for hands on training.
We suggest you run the videos on a separate computer using a data projector, and train as a group.
The only way you will learn all the new concepts and be able to
exploit all the immense benefits is by using the system. Experiential
learning is imperative.
It is important that you study the videos in sequential order set
out below.
Table of Contents
1. Introduction to ICRFS-Plus™
- 1.1.1 Relational database and COM technology
- 1.1.2 Modelling, paradigm shift and benefits
- 1.2 The Extended Link Ratio Family (ELRF) modelling framework
- 1.3 The Probabilistic Trend Family (PTF) modelling framework
2. Applications of the PTF and ELRF modelling frameworks
3. The MPTF modelling framework
6. Importing data into ICRFS-Plus and COM Automation
7. Additional applications of ICRFS-Plus™
1. Introduction to ICRFS-Plus™
1.1 General Introduction
1.1.1 Relational database and COM technology
The database functionality is demonstrated. Data, models and reports all reside in one relational database that can be configured in any way by the users. Communication between two databases has the same intuitive feel as using Windows Explorer for communicating between two sub-folders. Importation of triangles, from other applications including unit record transactional data, into an ICRFS-Plus™ relational database is effortless using the COM technology.
Click here to view this video. (25 minutes)
1.1.2 Modelling, paradigm shift and benefits
ICRFS-Plus™ is the key to a new innovative paradigm in for measuring and managing long (and short) tail liability risks. The various modules (modelling frameworks) LRT, ELRF, PTF and MPTF of the system are introduced. The critical difference between variability and uncertainty is illustrated with two gambling examples. The numerous benefits and applications afforded by the unique paradigm shift are also described.
Click here to view this video. (29 minutes)
1.2 The Extended Link Ratio Family (ELRF) modelling framework
The Link Ratio Techniques (LRT) module is applied to the incurred (Mack) array. Average link ratios can be regarded as average trends and so can be estimated in a regression framework. The ELRF module computes average weighted link ratios in a regression framework that includes all the LRT functionality. Link ratios are extended to include intercepts and constant trends in the incrementals, and a number of diagnostic tests are provided for identifying the best model in this family. Forecast standard errors are also given.
Three mutually exclusive conditions satisfied by data are introduced. For all but one development period the Mack incurred data satisfy condition 1. Even where the development period satisfies condition 2, link ratios do not have any predictive power (for this incurred array). This study is also discussed in the paper "Best Estimates for Reserves".
Click here to view this video.
1.3 The Probabilistic Trend Family (PTF) modelling framework
The Probabilistic Trend Family (modelling framework) is introduced in this session. Axiomatic trend properties of trends satisfied by every triangle are explained using a simple example. Subsequent to adding process variability to the trend structure, the data are modeled in order to explain a number of statistical concepts. A model is represented by four pictures (graphs); each picture has a simple interpretation. Any three out of the four pictures are meaningless (without the fourth). This study is also discussed in the paper "Best Estimates for Reserves".
Click here to view this video.
For additional information on ICRFS-Plus™ features - click here.