Method Comparison

The Method Comparison and bench-marking functionality enable a user to compare multiple Methods. The system enables the user to select reserves from different Methods across the months, years, quarters or half-years.

When the Method Comparison tab is clicked, the comparison data between the Methods appear by default. The user must approve methods for comparison.

Additionally, click the Excel icon to view the comparison details of the Method in the Excel document.

This page contains two tables and the following sections contain detailed information on them depending on the Method selected.

Field	Description
Accident (Month, Quarter, Half-Year, Year)	This is the vertical column being used in the Paid and Reported Loss Triangles. Here the number of years is the same as the data being used in these Triangles.
CL Ultimate	This column represents the total estimated cost of all claims for a given period (AY, UY or RY), including both reported and future claims that are yet to emerge by using the Chain Ladder Method
BF Ultimate	This column represents the total estimated cost of all claims for a given period (AY, UY or RY), including both reported and future claims yet to emerge using the Bornhuetter Ferguson (BF) Method.
ULR Ultimate	This column represents the total estimated cost of all claims for a given period (AY, UY or RY), including both reported and future claims yet to emerge using the ULR Method.
Earned Premium	This column represents the portion of an insurance premium that the company has actually 'earned' by providing coverage over time.
Incurred Claim Amount	Incurred claim amounts represent the total cost of all claims till date arising from insured events during a given period.
CL Reserves	It represents the reserves using the Chain ladder method. This is the amount an insurance company expects to pay in the future, based on how past claims have developed over time.
BF Reserves	The reserve amount estimated using Bornhuetter-Ferguson method for the given period.
ULR Reserves	The reserve amount estimated using Ultimate Loss Ratio method for the given period.
Selected Method	Selected reserves for the given period on the valuation date.