Document library
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- Author:
- Julian A Lowe; Louise M Pryor
- Source:
- General Insurance Convention 1996
Neural networks vs GLMs in pricing general insurance
Neural Networks are often referred to, with awe, as some mysterious representation of the human brain that can solve problems. They have also been referred to in previous GISG papers as having potential applications to general insurance pricing or ... read more >>
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- Author:
- David E A Sanders; Patrick Byrne; Patrick S Carroll; Simon Day; David Skurnick; Stephen N Townsend; James R K Upson
- Source:
- General Insurance Convention 1996
Reinsurance security
Reinsurance is often the second biggest cost of an insurance company, after claims. The management of this cost is certainly important. What is surprising to find in an insurance company is the lack of attention paid to this cost, both at the strategic and ... read more >>
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- Author:
- Justyn Harding; Henry Johnson; Constantinos Miranthis; Peter Sondhelm; Alan Spence; David Theaker
- Source:
- General Insurance Convention 1996
Equalisation reserves (1996)
For a number of years, United Kingdom insurance companies have sought the introduction of equalisation reserves on which tax relief would be given. For financial years ending on or after 23 December 1996, this wish will become reality. It is therefore an ... read more >>
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- Author:
- Nigel D Hooker; Peter A G Green; David M Hart; David A Slater
- Source:
- General Insurance Convention 1996
Reserve reports and opinions - outward reinsurance
The working party has identified the following as the key issues that arise in the consideration of outwards reinsurance in the context of providing an actuarial opinion on the insurance technical reserves. 1) Bad debts - should actuaries make a decision ... read more >>
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- Author:
- Richard Bulmer
- Source:
- General Insurance Convention 1996
Correlations between asset variables and liability variables
This was felt to be a fundamental part of the work of the Stochastic Asset Liability Modelling Working Party. Very little work has been done on this in the past although its importance had been recognised in several Institute papers. As with both the asset ... read more >>
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- Author:
- David A Slater
- Source:
- General Insurance Convention 1996
Mortgage indemnity guarantee [summary only]
General Insurance Study Group 1996 General Insurance Convention 2-5 October 1996 Workshop on Mortgage Indemnity Guarantee David Slater 439 Insurance Convention 1996 General 1 Overview The aim of the workshop will be to review and discuss the ... read more >>
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- Author:
- Craig T Pettengell
- Source:
- General Insurance Convention 1996
The impact of Ogden Tables on UK personal injury awards
Certain classes of insurance. including Motor, Employers Liability and Public Liability, potentially face a dramatic increase in the cost of large claims due to the widespread adoption of the Ogden tables in the assessment of UK Personal Injury Awards. ... read more >>
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- Source:
- General Insurance Convention 1996
Catastrophe modelling [summary only]
CATASTROPHE MODELLING In recent years, there has been an increase in the number and use of simulation packages for the purposes of modelling catastrophe exposures and costs arising from natural perils. The workshop will provided a demonstration of the ... read more >>
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- Author:
- Patrick S Carroll
- Source:
- General Insurance Convention 1996
Monitoring personal injury compensation
Various lines of approach to assess trends in settlement awards are considered. MONITORING PERSONAL INJURY COMPENSATION Workshop chairman: Patrick Carroll 471 Insurance Convention 1996 General MONITORING PERSONAL INJURY COMPENSATION 1. Scope of ... read more >>
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- Author:
- Peter Smith
- Source:
- General Insurance Convention 1996
Non triangulation reserving [summary only]
Non Triangulation Reserving Peter Smith GISG October 1996 363 Insurance Convention 1996 General Actuarial claim reserving literature is almost exclusively concerned with statistical methods applied to large blocks of data : triangulation, curve fitting, ... read more >>
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- Author:
- John P Ryan
- Source:
- General Insurance Convention 1996
Stochastic Asset Liability Modelling Working Party report
From the outset the working party assumed that it would not be able to complete its task within a one year time horizon. It would require three years to conclude targets. Consequently this is an interim report. We however provide some food for thought and ... read more >>
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- Author:
- Geraldine D Kaye; Jillian V Evans; John Evans; Sheree K Howard; David H Loades; William D McConnell; James C Rakow
- Source:
- General Insurance Convention 1996
Ways to improve the link between actuarial analysis and decision making
The long-term objective of this working party must be to find methods of expressing uncertainty to management in ways that enables them to make sensible decisions. GISG 96 Working Party Chairman: Dr Geraldine Kaye WAYS TO IMPROVE THE LINK BETWEEN ... read more >>
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- Author:
- John M Charles; Richard H Bland; Philip Ellis; Kenneth A Leitch; Adrian G Palmer; Gary G Wells
- Source:
- General Insurance Convention 1996
The future of the motor insurance market
The future of the motor insurance market is a potentially vast topic. We decided to limit the scope of this paper to the UK private motor market from an insurer's perspective. We consider the key issues that are likely to have a significant influence in ... read more >>
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- Author:
- Stavros Christofides; Robert H S Cowley; Chika Iloenyosi; Julian A Lowe; Andrew D Smith; Dom Tobey
- Source:
- General Insurance Convention 1996
GISMO - General Insurance Stochastic Model Office. Short term modelling for management decisions
GISMO is a stochastic insurance cash flow model implemented as an Excel 5 spreadsheet. It is intended to provide managers with useful information on the quality, or likely variability, of the key financial figures in their plans and enable them to gauge ... read more >>
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- Author:
- Cumberworth, Martin (Chairman)
- Source:
- General Insurance Convention 1996
Techniques and uses [Stochastic asset liability modelling] [slides]
Techniques and Uses Clearly it is possible to produce some extremely complex models and the computing time of a complex model could be too great. The approach adopted therefore was to provide a practical example use. Due to time pressures this has not ... read more >>
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- Author:
- David E A Sanders
- Source:
- General Insurance Convention 1996
Pricing in the London Market. Part 2: Practical pricing, non marine market
Following the paper produced for last year's GISG, in which we set out the basis for pricing, the Working Party decided to concentrate on the actual pricing issues. The original paper dealt with two main issues. The first part dealt with the actual pricing ... read more >>
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- Author:
- Peter Taylor; John Young
- Source:
- General Insurance Convention 1996
Current legal developments affecting financial reporting and reserving for insurance companies
The purpose of the Workshop is to provide delegates at the Convention with an opportunity to update themselves on current legal developments affecting financial reporting and reserving in the general insurance market. This is an area that is moving ... read more >>
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- Author:
- Fred Duncan; John P Ryan
- Source:
- General Insurance Convention 1996
Statutory reserve reports and opinions [summary only]
Statutory Reserve Reports and Opinions Shortly before the 1995 GISG Convention the General Insurance Board formed a steering group, under the chairmanship of Fred Duncan, to prepare material that would be relevant in circumstances in which there was ... read more >>
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- Author:
- Stephen R Walker
- Source:
- General Insurance Convention 1996
Stochastic error, parameter error and model error
The subject of error and uncertainty is and always has been a key issue in General Insurance. There is a growing interest in complex models of the claims process and computer models of both assets and liabilities. However, it is important that the degree ... read more >>
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- Author:
- Kendra Felisky-Watson; Patrick Byrne; Mark H J Azzopardi; Richard A Shaw; Geoff Perry; David C B Ibeson
- Source:
- General Insurance Convention 1996
Lloyd's corporate capital
Lloyd's corporate capital is a relatively new concept in the London Market and an unfamiliar one to many people. This paper gives an overview of the rationale for the introduction of corporate capital, a description of the different types of corporate ... read more >>