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Conversation on Loss Development Factors

by Timothy L. Coomer, Ph.D. | Jul 21, 2014 | Loss Development and Trend

I have found that interviews can often produce interesting results and insights. So, this month, I decided to sit down with Tony King, one of our actuarial analysts, and discuss the popular topic of loss development factors. The conversation has been edited for...

Risk Management: Analytically Based, Data Driven

by Timothy L. Coomer, Ph.D. | Jun 18, 2014 | Benchmarking, Loss Development and Trend

A few months ago, we conducted a survey concerning the utilization of analytics in the retention decision process.  As I continue through the PhD program at Oklahoma State University my prospective dissertation topic continues to move toward the study of analytical...

Simulation and Confidence Level Analysis

by Lori Ussery, Actuarial Consultant | May 1, 2014 | Loss Control, Loss Development and Trend

Loss simulations and confidence level analyses are important tools when budgeting for projected losses in the upcoming year. The projected loss pick determined by an actuary provides the expected or average value of losses, but it is also important to understand the...

Reserve Analysis and the ABC’s of IBNR

by admin | Dec 14, 2011 | Analytical Issues, Loss Development and Trend

In the SIGMA Tech Talk titled “Understanding Loss Development Factors,” we introduced IBNR losses as those losses which occur during a loss period but are not reported until a later date. The definition of IBNR also typically includes development of known claims. In...

Understanding Loss Development Factors

by admin | Oct 3, 2011 | Analytical Issues, Loss Development and Trend

Whether you are a broker, CFO, or risk manager, you have probably heard the terms loss development triangle, loss development factor, and IBNR (incurred but not reported losses). These are often included in the first analytical step of an actuarial analysis. Yet a...

What is IBNR?

by Jeff Adcock, FCAS, MAAA | Aug 3, 2011 | Analytical Issues, Loss Development and Trend

An underwriter once emailed me declaring that the IB and R load was too high on a particular account. I never had the heart to ask him what the letters I, B, or R signified in that statement, but obviously that must be what IBNR sounds like when pronounced too fast or...
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