How will IAA Calculate the YTD Numbers If the data is provided on Incremental basis. (Doc ID 2953716.1)

Last updated on JUNE 12, 2023

Applies to:

Goal

If the claims are incurred during Q1 and developed in Q2, those will be past claims in Q2 but in the overall yearly or six monthly results, the claims should be in current period line in six monthly results. How will we achieve this change as past service claims will be subject to unwinding of discounting impact.

Would we have different IFIE (insurance finance income/expense) based on quarterly results vs inception to date results? Do we need to provide inception to date claims (cumulative claims for 6 months) in addition to separately providing Q2 claims?
 

Solution

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