This is part 2 of a 3 part series. Part 1 is here. Non-life claims reserves are regularly not discounted, for bad reasons and good. This part of the series looks at the related issue of inflation in claims reserving. (You’ll have to wait for part 3 for me to talk about the analysis that […]
Bancassurance, says the oracle or finance definitions online (aka Investopedia) is : …is an arrangement in which a bank and an insurance company form a partnership so that the insurance company can sell its products to the bank’s client base. This partnership arrangement can be profitable for both companies. Banks can earn additional revenue by selling […]
Not much of value in this shoddily wording reporting on CT’s water shortage, except that we will hear an official update on the water disaster plan on 4 October. This is a topic of direct personal and business relevance, but also of a technical forecasting and measurement perspective. Very little I’ve seen so far gives […]
This is my first new post in over two years. There are many reasons for that, and I may get into that in a future post. As to why I’m restarting – a conversation with an old friend last night combined with a lunch discussion with an actuarial student a couple of weeks ago has […]
I’m as excited as the next guy about the possibilities of “Big Data!” but possibly more excited about the opportunities presented by plain old “Modest Data”. I believe there is plenty of scope for useful analysis on fairly moderate data sets with the right approach and tools. I’d go as far as to say that […]
Foreign person? Foreign company? Foreign trust? Local company owned by foreigners? Local company owned partly by foreigners? Foreign company owned by locals? Local company owned by locals with debt finance from foreigners? Local bank with foreign shareholders and repossessed properties? Local insurance company issuing policies to foreigners? BRICS bank? Foreigner married in community of property […]
This reminded me a little of trying to come up with the “right” risk taxonomy or risk management framework. There are so many different ways to draw boundaries, none which is perfect and many which are acceptable and useful. Also, Star Wars.
An actuary I know once made me cringe by saying “It doesn’t matter how an Economic Scenario Generator is constructed, if it meets all the calibration tests then it’s fine. A machine learning black box is as good as any other model with the same scores.” The idea being that if the model outputs correctly […]