568 Publications
  • Finity
    Integrating Business Planning and Risk Management

    Regulatory changes and challenges: Integrating business planning and risk management – are insureres ready?

    Operational risk management should be an integral part of a well-run business – but is it?

    Publication date: May 31, 2006 | Topic: Capital and Risk Management, Regulation / Appointed Actuary

  • Finity
    Storm Insurance Costs

    Stom Insurance Costs: How have recent weather conditions impacted profitability?

    With the drama and tragedy of recent storms and tsunamis still fresh in our memories, are historical long term weather experiences still providing and appropriate benchmark for establishing technical premiums? David McNab and Tim Andrews look at the facts.

    Publication date: March 31, 2006 | Topic: Natural perils, Pricing | Author: David McNab, Tim Andrews

  • Finity
    APRA Prudential Standards

    On 9 February 2006, APRA released its final prudential standards in relation to Risk and Financial Management. This overview touches on the points likely to be of most interest and highlights the key changes since the draft standards were released in May 2005. We also make some brief comments on the other prudential standars that are still to be released.

    Publication date: February 21, 2006 | Topic: Capital and Risk Management, Regulation / Appointed Actuary | Author: Estelle Pearson, Geoff Atkins

  • Storm Insurance Costs: How have weather conditions impacted recent profitability?

    In recent years the general consensus within the insurance industry seems to be that storm experience has been favourable and in many cases has resulted in above normal insurance profits. With this in mind, this paper will investigate and report on the following:

    – How recent weather patterns compare with averages over the longer term

    – Relationships between weather data collected by the Bureau of Meteorology and actual insurance claims

    – Quantification of the level of “above normal” profits

    – Expectations for the future, with regard to both storm experience and the expected impact on future insurance costs

    Publication date: October 16, 2005 | Topic: Natural perils, Pricing | Author: Tim Andrews, David McNab

  • Beauty Contest for a Line-Up of (Projection) Models

    Increasing computing power is opening up a wide range of predictive modelling techniques to actuaries, from the fields of traditional statistics and data mining. These techniques are often quite different and difficult to compare directly.

    This paper looks at some of the main classes of model available, and compares their performance on a number of real general insurance modelling problems. Performance is measured both in terms of predictiveness, using objective measures – and more subjectively on other qualities that might collectively be described as “elegance”. The models investigated include table-based analysis, generalised linear models, generalised additive models, decision trees, and neural nets.

    Publication date: October 16, 2005 | Topic: Pricing | Author: John Yick

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