An introductory course providing an opportunity for delegates to develop their understanding of claims reserving, both individual case reserving and IBNR estimation, and the importance of claims reserves to the insurance operation.

Content
· Purposes of claims reserving. Technical reserves in an insurance company's accounts.
· Reserves and provisions.
· Individual case reserves methods and approaches. Factors to consider; property reserves; UK damages in liability cases; "win" factors and exposure reserving.
· Record keeping and monitoring reserve movements.
· IBNR - what it is and how it arises.
· Organizing claims data.
· Simple approaches to IBNR estimation: loss development curves, triangulations, link-ratio methods. Statistical assumptions behind these approaches.
· Inflation and discounting.
· Dealing with the very long tail: some possible approaches to APH reserves.
· Estimating future reinsurance recoveries.
· Some accounting considerations for treatment of reserves. Regulatory considerations. Solvency tests.

Learning Outcomes
On completion of the course delegates will have a knowledge of the basis and techniques and purposes of claim reserving; individual case reserving; how to record and monitor individual claim developments; data collection and organisation; some simple approaches to IBNR calculation including triangulations and the link-ratio method; estimating reinsurance recoveries on reserves; approaches to APH "bulk" reserving; and the financial aspects of technical reserves. They will be able to assess and understand the significance of actuarial and mathematical reserving reports prepared for them.

Intended Audience
The course will be appropriate for all those involved in or requiring an understanding of claims reserving and the role of the claims department, including claims professionals, underwriters and financial managers. The course will involve some elementary statistical exercises so delegates with a moderate mathematical knowledge will benefit most.

Format
The course will include lecture, case studies and worked mathematical exercises.

Duration
One day.