Kailan Shang Wins CAS Emerging Issues Prize
Author Kailan Shang has been named the 2011 Emerging Issues Prize winner for his paper “Loss Simulation Model Testing and Enhancement.” Mr. Shang received a prize of $5,000 and was awarded a plaque at the 2011 Casualty Loss Reserve Seminar held in Las Vegas September 15-16, 2011. Mr. Shang’s paper is posted in the CAS E-Forum on the CAS Web Site.
In 2010, the CAS Dynamic Risk Modeling Committee and the Committee on Reserves issued a call for papers titled “Testing Loss Reserving Methods, Models and Data Using the Loss Simulation Model.” In this call, participants worked with the Loss Simulation Model to develop enhancements to the model, perform additional testing, and apply the model to test alternative loss reserving methods and models. Authors were asked to describe the issue to be addressed (e.g., which of several loss reserving methods or models works best in a given loss reserving situation) and their approach to using the Loss Simulation Model, as well as any model enhancements or testing performed on the model. The Loss Simulation Model and manual are available on the CAS Loss Simulation Model Working Party Web Site.
The Emerging Issues Prize is awarded to the best call paper to come out of a new, but not necessarily repeating, call paper program. The Emerging Issues Prize is not necessarily an annual prize and can be sponsored by a different committee each time.