ICRFS-Plus™ Training videos for new users
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 as set out below.
Table of Contents
1. Introduction to ICRFS-Plus™ 10.2 and modelling modules
2. Modelling using the Link Ratio Techniques and Extended Link Ratio Family modules
3. Introduction to the Probabilistic Trend Family modelling framework
4. Modelling real data (CTP) in the PTF modelling framework
8. Further PTF Modelling Examples
10. Uneven Sampling periods, updating, and various other topics
11. Introduction to MPTF
11.1 LOB 1 and LOB 3 (part 1)
In this video we introduce the MPTF Modelling Framework. This modelling framework has a number of applications including:
- Multiple lines of business - diversification and a company wide picture
- Multiple segments
- Layers
- Credibility modelling
- Splitting triangles: change of mix of business or change in trend (or process variance) structure.
The concepts of correlations and linearity are discussed. These concepts are fundamental to the MPTF modelling framework. Some misconceptions about correlations are discussed.
The video introducing MPTF and the underpinning correlation theory is available here (20 minutes).
11.2 LOB 1 and LOB 3 (part 2)
In this second part of the introduction to MPTF we begin by creating a composite triangle group to contain the LOB 1 and LOB 3 triangle groups as shown previously. The components of a composite triangle group are discussed.
The starting point we recommend for the MPTF modelling framework is the set of identified models first identified in PTF. These are found under the related button in the Composite Triangle Group Models tab and can be loaded directly into MPTF.
New buttons discussed include:
- Oc - Optimisation of Residual Correlations
- Co - Correlations and Covariances
- Oi - Optimisation (individual dataset) one step
- OOi - Optimisation (individual dataset) complete
The relationship between parameter correlation and future forecast scenarios is illustrated. The removal of parameter constraints between datasets is discussed.
The forecast scenario summary information is presented.
The variance Capital allocation formula is shown along with the corresponding output in the forecast summary tab.
The PALD simulations for the aggregate loss distributions are compared with zero correlation (assuming independence between lines) and the model including correlations (optimal). In this scenario the two lines are highly correlated, including in the reserve correlation, and there is no credit for diversification - a much greater capital risk charge is required due to the reserve correlation.
The video continuing the introduction of MPTF is available here (30 minutes).
