How Automation improves your Reserving Process

Automation is a key factor for actuaries in streamlining processes and increasing efficiency, especially when faced with complex calculations.

By automating actuarial reserving methods such as Chain-ladder method, GLM or Bootstrap method, actuaries can have more time on analysis, reporting or other high-value work.

When it comes to calculating a Loss Development Factor (LDF), Excel® has long been a popular tool. However, there are limitations to using Excel, and that’s where a Reserving Solution comes in.

In this article, we will show the long process on Excel® while calculating a Calculated LDF and how Automation is enabling actuaries to deliver better value.

Actuaries spend valuable time constructing, writing, and adjusting manually formulas and calculations which can be prone to errors, such as broken formulas, misplaced data etc.

Additionally, as the complexity of calculations increases, so does the difficulty of managing and updating the formulas. This manual process in Excel® can be time-consuming and hinder efficiency for actuaries.

Saving time on your actuarial tasks not only increases your productivity, but also frees up valuable resources to focus on other important tasks.

So, why investing so much time on Excel® while you can move to a Reserving Solution that can automate the process and eliminate the manual formula constructions and the tedious adjustments.

Discover how a Reserving solution can automate your reserving process and make it more robust and efficient.

Our Reserving solution offers an advanced solution for stochastic reserving method, sensitivity analysis and projection of future reserves. It revolutionizes the process by automating intricate calculations, eliminating the need for manual formula construction and tedious adjustments.

By using our Reserving solution, actuaries save valuable time by automating complex calculation tasks and reducing potential errors. Instead of spending time and effort dealing with Excel and the risks associated with it, actuaries can focus their energy on analyzing the results, thereby enhancing efficiency and spending more time on the actuarial validation of the assumptions.

By emphasizing the time-saving aspect and minimizing the number of clicks and manual manipulations required, a Reserving Solution enables to work more efficiently and effectively.