Venturing with industry-leading actuarial consulting firms and individuals, Goouon proudly presents ReservePrism system,
the future of Loss Reserves and Pricing. ReservePrism's foundation is the CAS Public Loss Simulator, but it reaches huge steps further...
ReserveMaster latest build has incorporated LDF Curve Fitting on Paid Loss development. This stochastic model uses Neldar-Mead algorithm
to optimize the maximum likelihood value on Inverse Power Function to find the best fitting of the age to ultimate factors.
As we are developing the
CAS Loss Simulator Model, we have created some useful R packages for actuaries to
download. Here is the link to R
contract with Keenan & Associates.
ReserveMaster Keenan version was developed to calculate Completion
Factor, estimate IBNP claims, and create rates for new and renew
business. With flexible data structure and advanced technology,
ReserveMaster is successfully launched to health insurance industry.
Your business is full of adventures and decisions. At Goouon,
we serve our clients with superior actuarial software and solutions, advanced
statistical knowledge, and proactive
customer service. Our goal is to open the door of simplicity to your
During our years of practice, we have teamed up a group of talented
actuaries and industry leaders, covering wide areas of actuarial expertise. Our actuarial modeling team consists of
IT gurus and statisticians. We are proud to be "actuarial
specializes in providing advanced actuarial
software, solutions and services. We are dedicated to providing efficient technical
solutions and consulting services for insurance
companies, educational institutions and
ReservePrism is a joint venture between Goouon and several other outstanding acturial consulting firms.
We believe this is the future of Loss Reserve, Pricing, and Actuarial Modeling.
ReservePrism@2012 is an advanced enterprise loss reserving and pricing platform. Its foundation is the CAS Public Loss Simulator, but
it reaches much further. Given either real claims or real triangles, ReservePrism analyzes, parameterizes, and fits them into its advanced R simulation engine, which produces claims that
have the same statistical essence (e.g. lags, payments, frequency, case reserves, adjustment, etc) as your claim data or triangle. Finally, by analyzing those synthetic
claims, ReservePrism will then yield distributions of reserves by accident year, calendar year and all years combined.
Our current actuarial software product, ReserveMaster
copyright©2005, is a milestone in P & C loss reserve
analysis. It is a multi-purpose solution for reserving
actuaries. Build triangles, apply
traditional methods, perform simulations - all
steps in one package. Expect efficiency,
enlightenment and unlimited potential from
ReserveMaster. We have the lowest rates in the market.
Try our free trial
version and import your data now.
Enterprise Risk Management system (I-ERM)
is still under development.
It serves the insurance company’s CEO,
CFO, Chief Risk Officer and Chief Actuary. It
provides an in-depth stochastic analysis of the
insurance company’s potential operation risks.
It covers underwriting, investment, tax and financial statements. We
endeavor to provide the most comprehensive
software for managing the many diverse functions
that enable insurance companies to have the right
information at the right time to make the right decisions.
SOX compliance software DEPICT provides
visualized, simplified and comprehensive enterprise process
management to assist the company-wide risk control...
BI and performance management insights in several ways, including a
portal-like Web-based EPM workspace. Depict will replace
spreadsheet and other disparate business tools to greatly enhance your
decision making process and reduce your budget for enterprise
operations and risk controls.
has signed research agreement with Casualty Actuarial Society (CAS)
to develop the Public Loss Simulator.
The Public Loss Simulator models
the loss process at the claim transaction level, rather than by
modeling statistics of the loss process such as loss triangles.
We describe the loss process in terms of the distributions of
(a) number of incurred losses, as a function of time and exposure,
(b) size of each loss, i.e. severity, from the viewpoint of the claimant,
(c) the probability that the insurer will be liable for payment of the loss,
(d) the effect of deductibles, limits, etc., on the amount for which the insurer is liable,
(e) the lag between the dates a claim is incurred and is reported,
(f) the lag between claim reporting and payment,
(g) any "error" in payment amount that may require later correction, usually a subrogation or recovery,
(h) the lag between the original payment and receipt or payment of any later adjustment,
(i) the value assigned to the case reserve at first notice of each loss,
(j) the lag from one valuation of each loss to the next during the period between reporting and payment, and
(k) the error between the valuation of a loss and its true value at various points in time between reporting and payment, and
(h) correlation between lines, as well as correlations between payment lag and loss size.
As described, this model applies to insurance coverages of the kind that
typically involve losses with a single payment followed by a single recovery,
such as automobile physical damage. The model also to applies to coverages that
involve losses with multiple periodic payments, such as Workers’ Compensation
indemnity, and random multiple payments (such as Medical Expense).
Download the model