GOOUON

 

1. We are using Excel with imbedded VBA to organize data and perform reserving study, why should we switch to ReserveMaster?
2. We are currently using ReservePro for loss reserve analysis, why should we try ReserveMaster?
3. What database (RDBMS) does ReserveMaster use?
4. Our data resides in an AS/400 running the AIG Wins application; do you have an interface to import the data from the AS/400 tables to the ReserveMaster automatically?
5. Does it run in a server? Or is it a client?
6. Every time I make a change in the editable cell, it seems the system is working on something and I cannot continue for a while.
7. Data import is the most critical step, how can I try the data import?
8. How does ReserveMaster handle incomplete triangles?
9. How should I start?
10. How can I continue with the import wizard if I don't have premium data?
11. Do you provide training and demo session?
12. Can ReserveMaster handle monthly or quarterly triangle?
14. Does ReserveMaster have ability to set cell comment?
15. Does ReserveMaster have ability to import claim data directly?


1. We are using Excel with imbedded VBA to organize data and perform reserving study, why should we switch to ReserveMaster?
Excel is a great tool to play with. Actuaries do like Excel a lot. But not all actuaries can fluently write VBA codes in Excel. It is not an easy task for other team members to understand and modify the macros written by one actuary. The Excel models generally contain tons of formulas and links in order to create data triangles. Mistakes can be made easily. Data updating and model maintenance are time consuming. In addition, Excel does not have file/project management function. You need to create many folders to keep many Excel files. ReserveMaster is a powerful triangle processor. It is highly efficient in managing projects. It can import raw data from Excel and export triangles/results to Excel.

Back to Top

2. We are currently using ReservePro for loss reserve analysis, why should we try ReserveMaster?

ReserveMaster is better than ReservePro in many areas.

The key area is data importing. Triangle data must be carefully and painfully prepared in order to use ReservePro. Instead, ReserveMaster is architected much more powerful and flexible. You could just import a simple text file or excel file like,

"Field1"                    "Field2"                    "Field3"                    "Field4"                    "Field5"   

1                              1986                        213                          1493649.90            41000.00

1                              1986                        214                          1493649.90            41000.00

1                              1986                        215                          1493649.90            41000.00

1                              1986                        216                          1493649.90            36000.00

1                              1987                        202                          2042709.81            17000.00

1                              1987                        203                          2042709.81            17000.00

Data will be converted to triangles in the system directly. You can immediately start using ReserveMaster to do your study or you can export triangles to Excel file to do special study. Our advanced design and architecture allow ReserveMaster to be a combination of triangle processor and reserve analysis tool.

Another advantage for ReserveMaster is its structure. ReserveMaster is currently set up to estimate 4 elements: Loss, DCC, Counts and Salvage & Subrogation. It looks like this in the system:

Open any method under “Data and Method”, for example “Paid Loss”, a whole picture of paid loss data triangle, loss development triangle and ultimate loss exhibition is there. Simplicity is beautiful. ReserveMaster will make you reserve job easier.



Back to Top

3. What database (RDBMS) does ReserveMaster use?
By default, the system uses a MS Access database in its local installed directory or network directory, which handles individual, small-scale and testing projects. ReserveMaster will connect to database server like MS SQL Server, Sybase or MySQL, etc, in an enterprise environment. These databases have already been tested. Since ADO technology is used to handle database connection, ReserveMaster can virtually talk to any kinds of databases.

Back to Top

4. Our data resides in an AS/400 running the AIG Wins application; do you have an interface to import the data from the AS/400 tables to the ReserveMaster automatically?
The issue is challenging for now. During designing phase, we have thought about this option. Most of insurance companies are using mainframe currently. However, we will still consider this option in the future release. Customizations will be needed for companies in this category.

Back to Top

5. Does it run in a server? Or is it a client?
It is a client. From technology point of view, it will be perfect if we have a server to handle triangle processing and pass the triangle data to a thin client, or to MS Excel directly. Some big companies have already been doing this. But the cost is huge. They have several programmers program and maintain the server. Our target clients include insurance companies, consulting companies (big and small), auditors (big and small) and government agencies. Cost efficiency is the major concern for the clients.

Back to Top

6. Every time I make a change in the editable cell, it seems the system is working on something and I cannot continue for a while.
This is normal. By default, every time user enters or changes data in one cell, the system will automatically re-calculate the related cells. To avoid it, please push the  button down as  from the toolbar, and then the system will turn off the automatic updating feature. After all the inputting, you could push that button up, and then the system will update all the related cells at once.

Back to Top

7. Data import is the most critical step, how can I try the data import?

Yes, data import is the most critical step to create triangles. It is the special feature of ReserveMaster and it makes ReserveMaster a triangle maker. Once you have successfully done the data import, you are closer to master the program.

The installation includes sample import files in your installation folder, which is usually C:\Program Files\ReserveMaster\Sample Import Files. There you can find sample import files in Excel and Text format. Play with those files first by importing them and also try group your company data into that kind of format. whether you fail or succeed, please see next paragraph.

Select menu tools->options, you can find this tab:

If you open one of the Excel sample, you can see the columns grouped as:

Please make sure the columns match every time you import the data.


Back to Top

8. How does ReserveMaster handle incomplete triangles?

ReserveMaster provides 3 options to handle incomplete triangles. You can set the missing data to 0, you can set it to blank and finally, you can also set it to "-". The picture below shows a triangle with left-up data incomplete. These settings are designed just for showing purpose, the backend missing data are treated as 0 inside the system. When exporting to MS Excel, however, 0s are given at the missing spots.


Back to Top


9. How should I start?

1) Open the system and play with the existing sample projects. Try to understand the system interface. Then make some data selections within the methods. Finally try the report and export functions.

2) Prepare your company data, following the sample text or Excel raw data file in the installation directory.

3) Import your data to ReserveMaster. Make selections in ReserveMaster and compare the results with those from the tools you have been using.

4) You are the master now. But you can still read the help file to further understand the system.

5) To be an expert, you can try to create methods by yourself.

Back to Top

10. How can I continue with the import wizard if I don't have premium data?
Premium data is needed for some methods, like Percentage of Premium, BF. That is why import wizard requires the premium data file. But if you don't have premium ready, you can change the formula for those methods to make the premium column as "UserInput" and enter data later.



Back to Top

11. Do you provide training and demo session?
Minimum training is needed for users of ReserveMaster. We will be glad to offer on site demos if requested by potential users.

Back to Top

12. Can ReserveMaster handle monthly or quarterly triangle?
Sure. ReserveMaster can handle monthly or quarterly triangles like:
1 2 3 4 ...
1996
1997
1998
...
1 2 3 4 ...
Jan 2000
Feb 2000
Mar 2000
Apr 2000
...



Back to Top

13. How many standard methods does Reserveaster contain?
As many as you wish. Here are some of the built-in methods and triangles. But you can create more to fit your needs BY YOURSELF. This is a powerful feature ReserveMaster has.
Paid Loss Incurred Loss Adjusted Incurred Loss
B-F method Stanard-Buhlmann Method Cape Cod
Modified B-F Expected Loss Percentage Of Premium
Paid Loss Severity Case Loss Reserve Average Case Reserve Per Open Claim
Paid DCC Incurred DCC S&S Received
S&S Ratio To Paid Loss Paid Count Incurred Count
Open Claim Count Closed w Payment Claim  Count Closed w/t Payment Count
Closed Claim Count reported Claim Count ......

ReserveMaster also provides users with strong graphical tools to help with the reserve analysis.

Back to Top

14. Does ReserveMaster have ability to set cell comment?

ReserveMaster has similar function Excel has. It allows user to manage cell comment. We believe it is very important for an actuary to track his/her job by this way.

Back to Top

15. Does ReserveMaster have ability to import claim data directly?

Yes. ReserveMaster is a powerful triangle maker. The import file format is really flexible. Application can age the claim data which includes loss date, payment date (or evaluation date), paid amount, expense, case reserve, S&S received etc.

One major issue here is that raw claim information is usually very huge and complex for a text file or Excel file, and each company has its own standard for claim transactions. It is very hard for ReserveMaster to count the claims and make judgment on certain situations.

In this case, our customized solution can read your company claim database and form triangle directly from ReserveMaster.

Back to Top

 

 

 

1. What is Loss Simulator?
Loss Simulator simulate loss occurrences, claims, and transactions.



Back to Top

 

2. What is the value of Loss Simulator?
  • The Loss Simulator will underlie the loss triangles and other statistics used to estimate loss reserves.
  •  

  • The generated claims will have the same statistical characteristic as the company real claim data, in regarding to lags, payments, frequency, case reserves, adjustment, etc, etc.
  •  

  • The generated claims could be summarized into loss development triangles and complete rectangles, which could then be used to test loss reserving methods and models.
  •  

  • Aid people in better understanding the underlying loss development process.
  •  



    Back to Top

     

    3. How does it work?

    Please see the full documentations.

    This is the ideal workflow, which is achieved by ReservePrism



    Back to Top

     

    Copyright ©2011 Goouon