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

ICRFS-Plus™ Demonstration videos and powerpoint slide show


ICRFS-Plus™ is a tour de force of interactive software design and computational speed.

An ICRFS-Plus™ corporate database, which is not difficult to create, enables complete executive oversight. This means that that you will be able to find, with just a few mouse clicks, models and reports for any segment of your business in any country, the actuary modelling that segment of the business, capital allocation by LOB and calendar year, reserve risk charge and underwriting risk charge for the aggregate of LOBs, whether outward reinsurance is effective in respect of reducing retained risk, and more. Creation of an ICRFS-Plus™ database from triangles stored elsewhere or unit record transactional data is also seamless and effortless using COM scripts.


One great benefit of ICRFS-Plus™ is that you can manage and measure all your long tail liability risks with a single composite model. Only one model for each company!


Click here to view an powerpoint presentation overview (about 14Mb) of ICRFS-Plus™


A single composite model measures the reserve, underwriting and combined risks for each LOB and the aggregate.


One double click loads the model and reveals pictorially the volatility structure of each long tail LOB in your company and their inter-relationships (correlation structures). All the critical financial information such as risk capital allocation by LOB and calendar year, and Tail Value-at-Risk for different time horizons can be computed in a matter of seconds. A company-wide report can be created effortlessly with a single report template.


In respect of Solvency II Capital Requirements (SCR), Market Value Margins (Risk Margins) and Technical Provisions (Fair Value of Liabilities), for the aggregate of multiple LOBs, video chapter 5 provides Insureware's solution to the one year risk horizon.


View the videos below to experience the numerous unique benefits and applications afforded by a unique paradigm shift.


Some of the (real) case studies modelled 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.


Table of Contents

1. Introduction to ICRFS-Plus™

    2. Applications of the PTF and ELRF modelling frameworks

      3. The MPTF modelling framework

        4. Capital Management of all long tail liabilities

          5. Solvency II one year risk horizon: SCR, Best Estimate of Liabilities (BEL), Technical Provisions (TP), and Market Value (Risk) Margins (MVM) for the aggregate of long-tail LOBs

            6. Reports

              7. Schedule P

              8. Importing data into ICRFS-Plus and COM Automation

                9. Additional applications of ICRFS-Plus™

                  10. Bootstrap: how it shows the Mack method doesn't work

                    7. Schedule P

                    ICRFS-Plus and A.M. Best Schedule P - giving your company a competitive advantage.

                    This chapter illustrates the wealth of information that can be obtained with ICRFS-Plus and the A.M. Best Schedule P data to give your company a competitive advantage.


                    The A.M. Best Schedule P CD is converted to an ICRFS-Plus relational database using the COM Automation. The database is used to study a number of companies in order to assess their different risk characteristics and compare them to the industry. The companies have different trends and process variability which is also different to the industry.


                    In addition, a company - called company C for the purpose of this demonstration, is shown to be significantly under-reserved. The ELRF modelling framework is used to show that standard link ratio techniques applied to paid losses or incurred data under-estimate the true trends for this company, suggesting that standard link ratio techniques were used to set reserves.


                    It is also explained that if a company experiences a calendar year trend of x% for many years and projects using this trend it should be increasing its price (premium) each year by at least x% and its total reserves each year by at least x%, in order to maintain consistent estimates of prior year ultimates.



                    For additional information on ICRFS-Plus™ features - click here.


                    Solvency II Capital requirements for each LOB and the aggregate of all LOBs are only met by ICRFS-Plus™ in a sound statistical framework.