Introduction
Non-life reserving software—also known as P&C reserving software—plays a vital role in the insurance industry. As insurers strive for more accurate forecasting, regulatory compliance, and data-driven decisions, reserving tools have become essential. Whether you’re an actuary working in general insurance or a consultant advising clients, using the right software can save time, reduce risk, and improve insight.
In this article, we explore the most trusted and innovative non-life reserving software solutions available today, including tools powered by AI, open-source alternatives, and enterprise-grade systems used by leading insurers.
What Is Non-Life Reserving Software?
Non-life reserving software is used to estimate future claim liabilities in general insurance (P&C) businesses. These tools apply actuarial methods—like Chain Ladder, Bornhuetter-Ferguson, and stochastic models—to help insurers set aside appropriate reserves.
Such software helps in:
- Regulatory compliance (e.g., IFRS 17, Solvency II)
- Internal risk modeling
- Faster and more transparent reserving cycles
- Auditability and documentation
Let’s explore some of the top tools in this space.
Top Non-Life Reserving Software
1. ResQ by Willis Towers Watson
ResQ is a market leader in reserving software, widely used by insurers and consultants globally. It supports traditional and advanced actuarial methods while offering strong data governance.
Key Features:
- Chain Ladder, Bornhuetter-Ferguson, stochastic models
- Machine Led Reserving
- Transparent audit trails
- Excel-friendly interface
- Suitable for regulatory and internal reporting
Why Actuaries Use It:
ResQ combines reliability, speed, and robustness, making it ideal for large-scale reserving tasks.
2. Akur8 Reserving
Akur8 is redefining the reserving process through AI and machine learning and is a new non-life reserving software. Their cloud-based reserving module provides actuaries with real-time insights and scalable automation.
Key Features:
- AI-assisted pattern detection
- Fast model calibration
- Real-time scenario testing
- Full transparency and auditability
Why Actuaries Use It:
It blends actuarial control with AI speed, helping teams complete more accurate reserves in less time.
3. LCP InsurSight
LCP InsurSight uses machine learning to identify trends and anomalies in reserving data, offering fast, data-backed support to actuaries that supports P&C reserving via software.
Key Features:
- AI-generated reserve estimates
- Pattern and assumption diagnostics
- Seamless cloud-based dashboard
- Trusted by major insurers
Why Actuaries Use It:
It helps teams validate assumptions and avoid blind spots during the reserving cycle.
4. Milliman ADAPT
Milliman ADAPT is a modeling platform suited for both reserving and capital modeling. It supports detailed scenario testing and integrates well with internal systems.
Key Features:
- Script-based customization
- Deterministic and stochastic modeling
- Highly scalable for enterprise use
- Solvency II and IFRS 17 ready
Why Actuaries Use It:
ADAPT is favored by modeling specialists who need flexibility and speed.
5. R with ChainLadder and Other Packages
R is a free, open-source statistical language popular in actuarial science. Packages like ChainLadder, bootChainLadder, and CASActuarialToolkit help with reserve estimation and validation for P&C reserving and R can help you a lot as an open source software.
Key Features:
- Transparency and reproducibility
- Access to open research methods
- Suitable for prototyping and academic work
Why Actuaries Use It:
Ideal for students, researchers, and data-savvy actuaries seeking flexibility and custom analysis.
6. Python with Chainladder Library for P&C Reserving
Python offers growing support for actuarial modeling. The chainladder Python library mimics traditional reserving techniques and pairs well with machine learning workflows.
Key Features:
- Integrates with Pandas, NumPy, and Scikit-learn
- Automates reserving pipelines
- Visualization and dashboarding options
Why Actuaries Use It:
Python is powerful for data engineering, visualization, and advanced analytics in reserving.
7. Excel-Based Reserving Templates
Despite advancements, many reserving tasks still start in Excel. Actuaries use customized spreadsheets and macros for quick triangulation and assumptions testing.
Key Features:
- Familiar and accessible
- Easy audit and review
- Great for small datasets
Why Actuaries Use It:
It’s still the quickest way to handle light reserving tasks without heavy software overhead.
8. In-House P&C Reserving Tools
Large insurers often develop their own in-house reserving software to meet specific data integration and modeling requirements. These tools are deeply embedded within their systems and workflows.
Typical Features:
- Real-time claims and policy data feed
- Customized reserving logic
- High governance and audit control
Why Actuaries Use It:
It allows full control, flexibility, and efficiency aligned with internal systems.
How to Choose the Right P&C Reserving Software
When choosing non-life reserving software, consider the following:
- Team skillset: Do you need a user-friendly interface or custom scripting?
- Data availability: Does the software connect with your claims systems?
- Regulatory needs: Is it IFRS 17, Solvency II, or RBC compliant?
- Budget: Open-source vs licensed?
- Speed vs transparency: How important is automation vs control?
Summary Table
| Software | Best For |
|---|---|
| ResQ | Large insurers & traditional actuarial teams |
| Akur8 | Teams seeking AI-powered reserving speed |
| LCP InsurSight | Insight-driven reserve validation |
| Milliman ADAPT | Enterprise-level modeling flexibility |
| R / ChainLadder | Research, academia, and open-source users |
| Python / chainladder | Automation & custom data pipelines |
| Excel | Quick reserving tasks & familiar tools |
| In-house tools | Custom internal systems & large data environments |
Final Thoughts
Choosing the right non-life reserving software (or P&C reserving software) depends on your goals, resources, and the complexity of your portfolios. From open-source tools like R and Python to AI-driven platforms like Akur8 and InsurSight, actuaries today have more choices than ever.
Each tool has its strengths—whether you’re aiming for regulatory compliance, speed, transparency, or customization. What’s important is finding the one that fits your workflow and future-proofing your reserving process.