Goouon Actuarial Loss Reserve Software and Enterprise Process Management Solutions

Time 2020-12-29 12:03:53

Web Name: Goouon Actuarial Loss Reserve Software and Enterprise Process Management Solutions

WebSite: http://www.goouon.com

ID:149878

Keywords:

Reserve,Software,Loss,

Description:

Venturing with industry-leading actuarial consulting firms and individuals, Goouon proudly presents ReservePrism system, the future of Loss Reserves and Pricing. ReservePrism's foundation is the CAS Public Loss Simulator, but it reaches huge steps further... ReserveMaster latest build has incorporated LDF Curve Fitting on Paid Loss development. This stochastic model uses Neldar-Mead algorithm to optimize the maximum likelihood value on Inverse Power Function to find the best fitting of the age to ultimate factors. Read more... As we are developing the CAS Loss Simulator Model, we have created some useful R packages for actuaries to download. Here is the link to R Bootstrapping. Goouon signed contract with Keenan Associates. ReserveMaster Keenan version was developed to calculate Completion Factor, estimate IBNP claims, and create rates for new and renew business. With flexible data structure and advanced technology, ReserveMaster is successfully launched to health insurance industry. Your business is full of adventures and decisions. At Goouon, we serve our clients with superior actuarial software and solutions, advanced statistical knowledge, and proactive customer service. Our goal is to open the door of simplicity to your business. During our years of practice, we have teamed up a group of talented actuaries and industry leaders, covering wide areas of actuarial expertise. Our actuarial modeling team consists of IT gurus and statisticians. We are proud to be actuarial engineers . specializes in providing advanced actuarial software, solutions and services. We are dedicated to providing efficient technical solutions and consulting services for insurance companies, educational institutions and practicing actuaries. ReservePrism is a joint venture between Goouon and several other outstanding acturial consulting firms. We believe this is the future of Loss Reserve, Pricing, and Actuarial Modeling. ReservePrism@2012 is an advanced enterprise loss reserving and pricing platform. Its foundation is the CAS Public Loss Simulator, but it reaches much further. Given either real claims or real triangles, ReservePrism analyzes, parameterizes, and fits them into its advanced R simulation engine, which produces claims that have the same statistical essence (e.g. lags, payments, frequency, case reserves, adjustment, etc) as your claim data or triangle. Finally, by analyzing those synthetic claims, ReservePrism will then yield distributions of reserves by accident year, calendar year and all years combined. Explore ReservePrism Our current actuarial software product, ReserveMaster copyright©2005, is a milestone in P C loss reserve analysis.It is a multi-purpose solution for reserving actuaries. Build triangles, apply traditional methods, perform simulations - all steps in one package. Expect efficiency, enlightenment and unlimited potential from ReserveMaster. We have the lowest rates in the market. Try our free trial version and import your data now. Enterprise Risk Management system (I-ERM) is still under development. It serves the insurance company’s CEO, CFO, Chief Risk Officer and Chief Actuary. It provides an in-depth stochastic analysis of the insurance company’s potential operation risks. It covers underwriting, investment, tax and financial statements. We endeavor to provide the most comprehensive software for managing the many diverse functions that enable insurance companies to have the right information at the right time to make the right decisions. SOX compliance software DEPICT provides visualized, simplified and comprehensive enterprise process management to assist the company-wide risk control... Depict exposes BI and performance management insights in several ways, including a portal-like Web-based EPM workspace. Depict will replace spreadsheet and other disparate business tools to greatly enhance your decision making process and reduce your budget for enterprise operations and risk controls. Read more... Goouon has signed research agreement with Casualty Actuarial Society (CAS) to develop the Public Loss Simulator. 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). Read more Download the model

TAGS:Reserve Software Loss 

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