RISK66 Release Notes v2019.08

In our most recent release, effective 08.15.19, several changes have been made to the Loss Forecaster data entry screens. On the Analysis Setup Data screen, the first data entry screen, the following fields have been moved to the second data entry screen:

• Number of Policy Periods
• Projected Inception Date
• Projected Expiration Date
• Loss  Limit

 See the example below:

Analysis Setup Data screen as of our most recent release:

The "Number of Policy Periods" input field was moved to allow for more dynamic policy periods.  The  button allows for additional policy periods to be added from the data entry screen. The  button to the right of the policy data allows for easier removal of a policy period.

Moving the policy period data entry to this screen allows Loss Forecaster to ensure the projected Inception Date and Expiration Date do not intersect with the policy period dates. 

This update provides more flexibility on date formats, including yyyymmdd and m/d/yy.  Additional date delimiters are also accepted:  mm/dd/yyyy, mm.dd.yyyy and mm,dd,yyyy.  

See the example below.

Loss Data Input screen as of our most recent release:

The Loss Development Factors screen, which is the fourth screen when entering a loss projection, now has three settings which determine how Loss Forecaster handles the LDFs:

• Default - SIGMA's default loss development factors are used for the calculation. In cases where incurred losses are equal to paid losses, the default action by Loss Forecaster is to change the LDF to a value of 1.
• System - SIGMA's loss development factors are used.  In cases where incurred losses are equal to paid losses, the LDF value will remain their default system value and will not be set to a value of 1.
• Custom - user can manually enter LDF's.

The Selected Estimated Ultimate Loss screen (data entry screen 5) and the Inflation Trend Factor Calculation (data entry screen 6), have each been revised by the addition of a slider to allow for easier percentage adjustments.

See the example below:

Additional minor enhancements include:

• Adjusted LDF calculation method to improve calculation speed.
• Removed legacy report.