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Basic Track IV. Case Study Handouts/Overheads 2000 CLRS September 2000 Minneapolis, Minnesota. Basic Track IV. Case Study Set II Handouts/Overheads 2000 CLRS September 2000 Minneapolis, Minnesota. Questions or Discussion Based on the Variant Case.

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basic track iv

Basic Track IV

Case Study

Handouts/Overheads

2000 CLRS

September 2000

Minneapolis, Minnesota

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Basic Track IV

Case Study

Set II

Handouts/Overheads

2000 CLRS

September 2000

Minneapolis, Minnesota

questions or discussion based on the variant case
Questions or Discussion Based on the Variant Case
  • In this example, the Reported Loss Development and the Reported Counts and Averages method produce higher ultimate loss estimates than the Paid Loss Development Method. What would you do in this situation:
    • pick the average of the three as a compromise
    • pick the highest answer to be more conservative
    • pick the lower answer to appear more profitable
    • investigate potential reasons for the difference in estimates
    • change the assumptions so that the three methods produce equal results
  • Do the historical reported loss and paid loss development patterns look consistent in this instance, or have the patterns changed?
  • What changes did you notice? What are some possible explanations for them?
  • How would you go about investigating the changes? Who would you talk to, and what additional data would you look at?
  • How could changes in the following disciplines impact the data:
    • Underwriting
    • Claims
    • Marketing
    • Accounting
    • Data Processing
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Basic Track IV

Case Study

Set III

Handouts/Overheads

2000 CLRS

September 2000

Minneapolis, Minnesota

questions or discussion based on the diagnostics
Questions or Discussion based on the Diagnostics
  • What does the additional diagnostic data tell you about the changes in the loss development patterns?
  • After examining this additional data, how would you change the original methods and assumptions shown?
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Basic Track IV

Case Study

Appendix

Handouts/Overheads

2000 CLRS

September 2000

Minneapolis, Minnesota

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Basic Track IV

Case Study

Answer Key

Handouts/Overheads

2000 CLRS

September 2000

Minneapolis, Minnesota