Loss development factors or LDFs are used in insurance pricing and reserving to adjust claims to their projected ultimate level i.e to Ultimate Claims. Insurance claims, especially in long-tailed lines such as liability insurance …
What is Bornhuetter Ferguson Technique The Bornhuetter Ferguson technique ( BF Method) is a method for calculating an estimate of an insurance company’s losses. The Bornhuetter Ferguson technique, also called the …
The chain ladder or development method is a prominent actuarial loss reserving technique. The chain ladder method is used in both the property and casualty and health insurance fields. Its …
How to become an Actuary: Actuary in India The Institute of Actuaries of India (IAI) regulates the education & training of actuaries in India. When a student becomes a member …
When a claim event occurs there will be some time before it is reported or notified to the insurer – this is known as a claim delay. The insurer will …
What Is Unearned Premium? Unearned premium is the premium which is corresponding to the time period remaining on an insurance policy. These are proportionate to the unexpired portion of the insurance premium paid and …
Incurred But Not Reported or IBNR reserves are a part of claims reserves estimated by insurers for reporting on their financial statements. Claims reserves are estimates of claims that have …
A reminder to all members in categories 2-6 that the continual professional development (CPD) reporting year will end on 30 June 2019. All CPD activity for 2018/2019 must be completed …
Early next month, Council members from the UK Institute & Faculty of Actuaries (IFoA) will be holding one of its quarterly meetings in Africa. In what will be a first …
Since the Actuaries’ Code first came into effect in 2008, the actuarial profession has moved into more diverse fields and the number of members working outside the UK has increased. …
Thomas Mack, In his original paper outlines a method to estimate the standard error of chain ladder estimates. The Method is now is generalised with the name of Mack Method. …
WASHINGTON and ARLINGTON, Va. and SCHAUMBURG, Ill. and OTTAWA, May 07, 2019 (GLOBE NEWSWIRE) — Organizations representing the actuarial profession in Canada and the United States have applied an improved …
Masters in Actuarial Science from abroad is always a question of high doubt and discussion. To help you solve your doubts we have already published an article on Masters in …
Even as Indian life insurers have recorded improvement in Indian assured lives’ mortality rates across age-groups and genders, the 13-20 years age bracket has bucked this trend. Mortality rates have …
Right from the day all of us started studying the life insurance domain in the actuarial industry, we have all been fed the concept of actuarial reserving which forms the …