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August 29th, 2016, 11:11 AM
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Join Date: Mar 2012
Irda ibnr

Can you provide me the Table of Content of the Manual for Estimation of Provision for IBNR claims in General Insurance Business as offered by IRDA (Insurance Regulatory and Development Authority)?

The Table of Content of the Manual for Estimation of Provision for IBNR and IBNER claims in General Insurance Business as offered by IRDA (Insurance Regulatory and Development Authority) are as follows:

Table of Contents

1. Nature of general insurance business

2. Claims incidence and settlement process

3. Impact of various factors on claims experience

4. Tail factor in claims processing to settlement

5. Impact of management practices on claims development

6. Concept of IBNR and IBNER and factors influencing them

7. Compilation of data to enable estimation of provision for IBNR and IBNER claims

8. Working with incomplete data:
i. Data for earlier years not being available;
ii. All required particulars not being available;
iii. Data covering 100% of the business not being available; or
iv. A new portfolio.

9. Methods of estimation of provision for IBNR claims
i. Link ratio or Chain-ladder method and B-F modification to the method
ii. Ultimate claims ratio method
iii. Craighead curve fitting method
iv. Projection of number of claims and claims cost method
v. Modifications in case of data availability for only a short period

10. IRDA Guidelines on estimation of provision for IBNR claims
i. Examination and validation of data in Form A
ii. Examination of data in Form B1 and inferences there from
iii. Projection based on data in Form B1
iv. Projection of data in Form B2
v. Purpose and examination of the report of the Appointed Actuary
vi. Selection of the method best suited in the circumstances

11. Validation of the results of the estimation exercise. Credibility tests on the results and modifications to the results

12. Estimation of provision for IBNR claims in respect of reinsurance business:
i. Nature of reinsurance business
ii. Types of reinsurance and claims developments features of each type
iii. Triangulation of reinsurance premiums and claims
iv. Estimation process for each type of reinsurance
v. Validation of results


Attached Files
File Type: pdf IRDA IBNR Manual.pdf (1.09 MB, 181 views)

Last edited by Neelurk; May 16th, 2020 at 09:34 AM.
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