Towards the optimal reserving process - working party
The objective of this GI ROC workstream remains to focus on the governance and design of existing processes within reserving, ensuring that principles-based guidance (small ‘g’) is given as to the:
• Governance and design of reserving processes
• Reserving methods available and their strengths and weaknesses, and
• Best practice in documentation and housekeeping.
(Background information on the work of GI ROC).
Objectives:-
- suggest alternative processes and strategic processes that may be helpful to achieve the current/expected reporting requirements most efficiently (including recycling analysis and operating on a risk-sensitive basis)
- identify “helpful hints” to save time or process on particular calculations/processes
- Initial trawl of ideas to identify good processes and ideas seen in our or other companies
Note that this WP is part of the GI ROC suite, and is aiming to provide a baseline for knowledge within the industry.
Outputs:-
- Plenary presentation at GIRO 2012.
- Workshop presentation at GIRO 2012.
- Presenting at the profession's Reserving seminar in June 2013.
- Aiming for a paper.
- Aiming for a presentation at GIRO 2013 (GIRO40).
Membership:-Chair: Neil Bruce
Current number of members: 15
If you would like to join this working party, or for further information on any of our general insurance working parties then please email Dawn McIntosh, Communities Manager.