Patent ID: 8452621
Filing Date: 2013-05-28
Classification: G06Q

Abstract:
1. A non-transitory computer readable storage medium storing a set of instructions executable by a processor, the instructions being operable to perform a method, comprising: receiving, from a user, a selection of a model to perform a loss reserve calculation; receiving, from the user, a selection of actual data directly from a workbook of a spreadsheet application to be input into the model selected to perform the loss reserve calculation, wherein the actual data is aggregated data for a plurality of insurance policies in a line of business; wherein the selection of actual data is a selection of aggregated data for the plurality of policies in the line of business; performing a model fitting calculation based on the selected model and the selected actual data to generate model fitted results; performing a plurality of simulations, wherein each simulation is based on the model fitted results and random re-sampling with replacement for the selected actual data; and generating loss reserve statistics based on the plurality of simulations for the line of business.