At SIGMA, we pride ourselves in our efforts to educate both our own clients and the general insurance industry on actuarial concepts and methodology. Nearly fifteen years ago, we developed a booklet as part of these efforts titled “An Actuarial Advantage,” which has been utilized by over 100,000 insurance and other related professionals to understand […]
We rarely have guest bloggers, but today is an exception. I am happy to introduce Bill Wilson (although I believe everyone may already know Bill). I have been working in or around the P&C insurance world for 32 years. Bill is simply a genius. His knowledge and experience far exceed anyone else I have met […]
Early last year, I visited the USS Midway Museum in San Diego. The museum offers tours of the decommissioned aircraft carrier, led by docents, many of whom served on the USS Midway or another vessel. As I toured the bridge and entered the chart room, the docent recalled the various measures for determining the carrier's […]
I’m a research guy who reads newly published academic articles like people used to read the morning paper. So, in my efforts to understand the value of safety training, I naturally dove into the research. During this process, I read a broad spectrum of safety research studies, and the entries below constitute two of the […]
When a company begins the due diligence process for acquiring another entity, several actuarial factors must be considered. For risk related specifically to property and casualty, the main question needing to be answered pertains to the actual liabilities being acquired and how accurately they are being estimated. When the target company has maintained insurance programs […]
SIGMA recently celebrated six months of success with our new online product, RISK66.com, which contains training videos, resources, and the online version of Loss Forecaster. This process has prompted a lot of conversation about what types of analytics best serve clients of different sizes. As result, we are developing LORAN, a new analytic tool for […]
Blog 1: Intro to SIGMA & Scope and Data Requirements Blog 2: Loss Development Factors Blog 3: Reserve and Cash Flow Analyses Blog 4: Trending, Pure Loss Rates, and Loss Projections Blog 5: Confidence Interval and Retention Level Analyses Blog 6: Loss Cost Analysis In our last post, we spent a bit of time dealing […]
Blog 1: Intro to SIGMA & Scope and Data Requirements Blog 2: Loss Development Factors Blog 3: Reserve and Cash Flow Analyses Blog 4: Trending, Pure Loss Rates, and Loss Projections Blog 5: Confidence Interval and Retention Level Analyses Blog 6: Loss Cost Analysis In our previous blog post, we covered one of the first steps in creating […]
Blog 1: Intro to SIGMA & Scope and Data Requirements Blog 2: Loss Development Factors Blog 3: Reserve and Cash Flow Analyses Blog 4: Trending, Pure Loss Rates, and Loss Projections Blog 5: Confidence Interval and Retention Level Analyses Blog 6: Loss Cost Analysis As a current recipient of the Risk Management Blog, it’s likely […]
Seeing the Big Picture While a loss pick or point estimate produced from accurate analysis by an experienced actuary is valuable information, its usefulness is tempered by the likelihood of how accurate the estimate is. That is, from a statistical standpoint, the loss pick has a certain probability of being correct. That probability, measured in a confidence interval, is […]