CAS Public Loss Simulator 2.1

The Public Loss Simulator models the loss process at the claim transaction level
1 
Rating
Your vote:
Latest version:
2.0 See all
Developer:
Screenshots
1 / 1
Awards (1)
Show all awards
Software Informer Virus Free award
Download
48.6 MB

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).

Comments

1
Rating
1 vote
5 stars
0
4 stars
0
3 stars
0
2 stars
0
1 stars
1
User

Your vote:

Related software

CAS Modbus Scanner
CAS Modbus Scanner
Free
rating

Utility to retrieve data from a Modbus enabled device.

CAS Structure Editor
CAS Structure Editor
Free
rating

You can create structure queries offline and then import them to SciFinder.

Microprocessor 8085 Simulator
Microprocessor 8085 Simulator
rating

This tool allows you to view timing diagrams for various instructions.

Skylab GPS Simulator
Skylab GPS Simulator
rating

The simulator provides a complete suite for all your GPS simulating needs.

AssetCAT
AssetCAT
rating

Catalog a wide range of information, and create customized reports.

Related suggestions

Tja treasure similator 3d