The reserving expertise and exceptional thought leadership of two senior consultants at
The RRHOF was established by the CAS in 2016 to honour and draw attention to important reserving-related papers and research in the field of property/casualty insurance; the selection process for the RRHOF is overseen by the
In the paper, they simulated proxy loss development data for each environment, which enabled them to measure the accuracy of various actuarial projection methods. Based on their results, they were then able to offer a roadmap for reserving actuaries to use in order to select appropriate methodologies and parameterisations given the current, past, and expected future environmental conditions affecting the reserving process. Staudt and Boles are both Fellows of the
"It was an honour just to have been nominated, especially considering the exceptional talent of those previously selected, so to get this ultimate recognition from those we work with in the reserving industry is incredible," said
Staudt and Boles were honoured for their work at a ceremony that took place at the Casualty Loss Reserve Seminar (CLRS) in
The selection process
Specific criteria have been established as guidance for RRHOF membership, including:
* Originality and value added - Does the research introduce new concepts or provide a new and interesting perspective on existing research?
* Wide applicability - Can and have the concepts presented in the research be applied to a wide number of property/casualty business situations?
* Frequently referenced - Has the research been frequently referenced by (and perhaps incorporated into) other research?
* Readability - Is the research well written and presented in a way that is reasonably easy to grasp and put to use?
* Lasting Influence - Has sufficient time passed to allow the research to be considered critically and put to use? During that time, has the research stayed relevant or at least avoided early obsolescence?