Why Don’t Cat Models Work or Do They?. The Role of Models: A View From Both Sides CAS Presentation May 8, 2006 Maria Kovas. Overview. Role of Modeling during the Quiet Years Original Role of Modeling Change in Expectations Return to the basics.
Why Don’t Cat Models Work or Do They?
The Role of Models: A View From Both Sides
May 8, 2006
During the Quiet Natural Catastrophe Years
Leading Role in:
Post Event Loss Evaluation
First Generation-Professional insurance/broker/reinsurers-recruited to use the models because of aptitude or interest
Second Generation-Professional modelers recruited for technical aptitude and skill in running the models
Consider key issues in the firm
Review the diagnosis
Determine if the remedies are cost effective