LoReTo - Loss Reserving Tool
The assessment of loss reserves is a core assignment of actuaries. With the introduction of Solvency II in January 2016 the importance and complexity of this task has increased enormously.
LoReTo (Loss Reserving Tool) enables primary insurers to analyze and assess their loss reserves by using a proportional software approach. The system is entirely based on Excel™, offers an intuitive usage and a high transparency in the analysis of the reserve quality. At the same time a broad variety of possible operations meets the demands of the new regulatory regime.
- Intuitive usage and process-oriented structure
- Parallel analysis of payment and expenses triangles
- Assessment of the quality of reserves with modern actuarial processes (Chain Ladder, Additive Chain-Ladder, Bornhuetter-Ferguson, Cape Cod)
- Flexible modelling of trailing for Longtail-Sections using a process of regression (Exponential, Weibull, power, Inv. Power)
- Stochastic reservation using a distribution approach (via Mack Standard error)
- Determination of discounted reservations of expected value and future cash-flows according to requirements of the Solvency II standard model
- Option to connect to intern processes such as the determination of the margin of risk