Available for viewing or download, the educational videos below are free of charge and free of ads.
Disclaimer: Information presented in these videos should not be relied upon as actuarial or accounting advice, which should be provided by a credentialed actuary or accountant familiar with the details of your organization’s risk management program.
What is IBNR?
This video, part of the loss reserving fundamentals series, defines IBNR, or “incurred but not reported”.
IBNR is described in relation to case reserves and overall loss reserves. Four of the main sources of IBNR are discussed.
For the purpose of simplicity, this informative video uses insurance terms in their general sense. For example, “insurers” may refer to commercial insurance carriers or organizations retaining loss through high deductible programs. The term “loss” is used generally, rather than specific references to “loss and expense”.
Tail Liability Explained
This video provides a clear illustration of how tail liability arises from claims-made coverage.
How to Create a Loss Triangle
This video is an introduction to loss triangles and is intended for viewers with little or no familiarity with the topic. We’ll explain the basic concepts of loss triangles while creating an example triangle from a series of loss runs. Loss triangles are commonly used by actuaries for loss reserving, pricing, and other analytical purposes.
How to Interpolate Loss Development Factors
This video demonstrates how to interpolate loss development factors using two simple interpolation techniques. Loss development factors (LDFs) in the form of age-to-ultimate factors (ATUs) are commonly used by actuaries for loss reserving, pricing, and other analytical purposes.
Loss Development Factors – Part 1: Calculating LDFs
This video demonstrates how to calculate loss development factors by way of an example. It is the first video in a series covering loss development, its applications, and common issues and pitfalls. Loss development factors (LDFs) in the form of age-to-ultimate factors (ATUs) are commonly used by actuaries for loss reserving, pricing, and other analytical purposes.
Loss Development Factors – Part 2: Use LDFs to Estimate Ultimate Loss
The second in the series, this video demonstrates how to use loss development factors to estimate ultimate loss.
Loss Development Factors – Part 3: Calculate Loss Reserves & IBNR from Ultimate Loss
The third in the series, this video demonstrates how to use estimate loss reserves and IBNR from the ultimate loss we estimated in Part 2.
Loss Development and Bornhuetter-Ferguson Methods – A Visual Approach
This video demonstrates the mechanics of the loss development methods and the Bornhuetter-Ferguson methods with the help of several graphical illustrations. The loss development and BF methods are the most commonly used actuarial techniques for estimating ultimate losses and loss reserves.