Expect efficiency, enlightenment, and unlimited potential from ReserveMaster.
ReserveMaster is a powerful
triangle processor. It creates all kinds of triangles within
seconds as soon as you import raw data files in either text or Excel
format. Most of the standard methods are predefined and you can
add your own methods within minutes. Data Management is efficient.The
system has both an easy-to-use report engine and the capability to
export triangle data into Excel. It is a
comprehensive solution that can be shared among actuarial team
members. Try to import data now using the trial version.
In addition to standard/traditional
methods, ReserveMaster incorporates simulation function and
provides the option to estimate reserve at specific confidence
levels. Currently, you can simulate uniform, normal, lognormal and
triangular distributions. Either Ultimate Losses calculated from
traditional methods or Loss Development Factors can be modeled.
ReserveMaster is set up to add other distributions and model other
variables according to your business needs.
- Bootstrapping Based On Over-Dispersed Poisson (ODP) Model
ReserveMaster has implemented
bootstrap reserving method following the example David Clark
presented at CAS 2006 spring Meeting and at the 2006 CAS loss reserve
seminar. The method is described in England
& Verrall paper, "Analytic and Bootstrap Estimates of
Prediction Errors in Claims Reserving."
Steps in Bootstrapping:
1. Using Cumulative Paid Loss triangle, select LDF.
2. Get incremental triangle. (A)
3. Calculate "Expected" incremental triangle based on
selected LDF. (E)
4. Calculate residuals triangle. ((A-E)/(E^0.5))
5. Resample residuals.
6. Generate a pseudo triangle from resampled residuals, select LDF and
calculate Ultimate loss.
7. Repeat step 5 and 6.
We also developed a two-stage bootstrapping reserve analysis in R
language. You can download and install the package from here.
ReserveMaster latest build has incorpearted LDF Curve Fitting on Paid Loss development. This stochastic model uses Neldar-Mead algorithm to optimize the maximum likely hood value on Inverse Power
Function to find the best fitting of the age to ultimate factors.
All Steps are in one Package. Creating triangles, applying traditional methods, simulating different
distributions, estimating reserves by confidence levels, managing projects...
ReserveMaster is a
multi-purpose solution that lets you choose what you need.
potential has not yet been reached…
be advised that the ReserveMaster is a tool that can help you
simplify the P&C reserve analysis process and help you make wise
decisions, it is not responsible for your final decision.