Weng K Leong

US Patent:

8452621, May 28, 2013

Filed:

Feb 24, 2012

Appl. No.:

13/405006

Inventors:

Weng Kah Leong - New York NY, US
Stephen Lienhard - East Windsor NJ, US
Seth Shenghit - Robbinsville NJ, US
Blake Berman - New York NY, US

Assignee:

Guy Carpenter & Company, LLC. - New York NY

International Classification:

G06Q 40/08

US Classification:

705 4

Abstract:

A system, method and computer readable storage medium for 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, performing a model fitting calculation based on the model selected and the 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 actual data and generating loss reserve statistics based on the plurality of simulations.