Model selection for loss reserves: The Growing Triangle technique

Technical papers

Introduction

In return for paying future claims on losses specified in insurance contracts, insurers receive premiums from policyholders in advance. However, the actual losses are not known for some time. Therefore, a method to estimate the expected liability is needed so that the insurer can calculate the profit of written policies and allocate reserved assets to ensure liquidity.

During the past decades, loss reserving has become a sophisticated and developed field in the insurance industry

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The future of life insurance

As the world constantly evolves and changes, so too does the life insurance industry, which is preparing for a multitude of challenges, particularly in three areas: interest rates, regulatory mandates and technology (software, underwriting tools and…

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