Graphical Methods for Loss Reserving - Forum

Many actuaries today are still implementing old-fashioned methods on newfangled hardware. Unfortunately, the actuaries are just performing the old methods faster instead of devising new methods which better utilize the power of personal computers. This session will show a variety of loss reserving applications which utilize the graphics capabilities of PC’s. Graph’s, when properly constructed, can significantly enhance the interpretation of the huge volumes of numbers which actuaries compile. The presentation will include many examples to show the great variety of techniques which are applicable to loss reserving problems. The use of relatively simple methods will be emphasized to show that expensive hardware and software are not mandatory. However, sophisticated methods will also be shown to point to the possibilities for further investigation. And finally, a short list of Do’s and Don’ts for creating good graphics will be presented.