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Excess of Loss - IBNR Forecast |
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| The Excess of Loss - IBNR Forecast module enables excess of loss recoveries to be based on claims that have been loaded with IBNR reserves. The loaded incurred but not reported (IBNR) reserves can be applied by increasing the incurred loss amounts by a percentage depending upon the statistics codes and year of account; by adding specific amounts to identified events; or a combination of the two. |
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The IBNR facility provides for additional reporting facilities, showing results of actual paid recoveries, known outstandings and IBNR reserves. It enables different sets of IBNR loadings to be applied and the results saved separately, thereby providing a modelling environment. As one of the components of Total Objects GLOBAL XLPro system for outwards reinsurance, Excess of Loss - IBNR Forecast can be implemented individually or as part of an integrated solution. |
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