ICRFS-Plus™ 10.3 Update Training videos for ICRFS-Plus 10.1 users
Training videos for 10.3 users has been updated on February 6, 2009. The new Workbook103A.icradb-v10 and a MPTF report template MPTFReportFormat15 Reserve.ixl for 15LOBS can be downloaded here.
Workbook103A.icradb-v10 and MPTFReportFormat15 Reserve.ixl are also included in the upgrade ICRFS-Plus 10.3 training videos shipped out in the week beginning February 9, 2009.
New training videos include;
8.5 Future accident year alphas and premiums and link ratios to ultimate
8.6 How can we tell that data modelled by Murphy et al is not real?
12.2 MPTF Clusters Case Study Segments A B C...J
13. Capital Management of long tail liabilities
You can use Workbook 103A for all the training videos, even though it is only used for the new videos, since it supersedes Workbook 102A.
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
A list of changes, enhancements, and updates for 10.3 from 10.1 can be found under Help -> Update notes for 10.1 users.
1. Uneven Period Triangle Groups
In this update video the new feature of mixed period triangles is covered. Modelling uneven periods is done by example using C Even versus C Uneven. The original way of setting up uneven period data is compared to the new method. Short tail lines can also be analysed using mixed period triangles by, for example, creating a triangle group with accident quarters versus development months.
Collapsing triangle groups from the even format to the uneven format is demonstrated. For any existing triangle group in 10.1 (or prior), it is shown to be extremely simple to update this to the 10.2 uneven triangle group format. The models created using either form are shown to be equivalent.
Additional features described include:
- Composite and related models can be seen in the triangle group view.
- Shortcut keys (and right click menu items) to create triangles. Similar shortcuts have been created for exposure, premium and inflation vectors.
- Minimize other types (applies to modelling windows)
- Query by selection is also described
Click here to view the video introducing uneven period triangle groups.
2. Modelling Enhancements
Accident period heteroscedascity modelling has been introduced for diagnostic purposes. This feature should be used to adjust models only at the end of modelling and only when you know the mix of risk has changed. Adjusting for heteroscedascity along the development periods is preferred.
Variances are now specified via a base variance and period (accident and development) ratios.
The simulation dialog box now includes accident period variance ratios. There is an additional column beside the alpha parameters corresponding to the variance ratio, the resultant variances across the triangle are shown in the table below the parameters.
Other enhancements illustrated include:
- Forecast dialog changes for future variances, starting development period, and forecast summary output.
- Reinstating only alpha parameters.
Click here to view the video on PTF modelling enhancements.
3. MPTF Modelling Enhancements
Normally, you do not want to set cross dataset constraints if no process correlation exists between the datasets. Therefore, optimisation applying constraints within clusters only has been added to the MPTF modelling preferences.
- Reinstating alpha parameters and application to optimization is discussed.
- Loading individual PTF forecasts from MPTF is shown.
Click here to view the video on modelling clusters in MPTF.
