Outputs

The output generated in the application is consumed by various processes and applications. Some of the examples are Reserving Exercise and Capital Modeling. A large portion of these outputs are also required for the IFRS17 computation and thus these work as an input for Oracle Insurance Accounting Analyzer (OFS IAA). The outputs that will be mapped to OFS IAA are:

• The Ultimate is calculated from each of the Loss Triangles, for example, Paid and Incurred Triangles. These losses form the expected losses for a particular Accident Year in the IFRS17 Application and will be mapped to the respective Accident Year.
• The IBNR is calculated using different methods, for example, the Chain Ladder Method. In case, the Incurred Loss has a component of IBNR, these are mapped based on the accident years in the IFRS17 Application.
• The Output is calculated from each variety of patterns, for example, Earned Premium. Depending on the variety of patterns, it can be mapped to the Underwriting Year (UWY) or Accident Year (AY). For example, the Earned Premium is mapped based on the UWY, and claim payment is mapped based on the AY.