Casualty Actuarial Society

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Kailan Shang Awarded Emerging Issues Prize

09/09/2011 —

The Dynamic Risk Modeling Committee and the Committee on Reserves is pleased to announce the winner of the best paper from the Call for Papers on “Testing Loss Reserving Methods, Models and Data Using the Loss Simulation Model”. Kailan Shang was selected for his paper entitled Loss Simulation Model Testing and Enhancement and was named the 2011 Emerging Issues Prize winner.

In this call paper program, 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. The model and manual are available on the CAS Loss Simulation Model Working Party website. Papers needed 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), the author’s approach to using the Loss Simulation Model, and any model enhancements or testing performed on the model.

The Emerging Issues Prize is awarded to the best call paper(s) to come out of a new, but not necessarily repeating, call paper program. This is not necessarily an annual prize and can be sponsored by a different committee each time.

This call for papers was intended to foster the use of the Loss Simulation Model and to generate publicly available improvements to the model. The winning paper was published in the CAS E-forum and is available on the CAS Web Site. Shang will receive a prize of $5,000 and will be awarded a plaque along with the prize money at the 2011 Casualty Loss Reserve Seminar, September 15-16, 2011 in Las Vegas, NV.

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