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Japan Modeling Cheat Sheet by

yo

Wind

VVOR
AIR
Data
Detailed AIR to Prefecture or SubArea level
Convert from RMS data using EDC if needed
PerilCode -- WS = 1, SS = 256, PF = 4096
Model
WS+50S­S+5­0PF­_wD­A_wDS
Japan Domiciled -> apply prefecture Vuln Adj
No Adj made for Worldwide Deal
LAE
1.035
Model Change
Adopted the Alternate view for Japan WS in VVOR v19
Vendor Model latest updated on Oct-2017
Others
2 MFIDs: Ori and Alt view.
- Running thru Cattools only give you the Alt. View --> Use the Touchstone UI to get both

Templates in TS has 50% TakeUp applied
- Through Loss Mod. Factor onto SS and PF OR
- Through 50% SS and PF analysis Options onto Peril Wind
If your exposure is coded for PF (4096) or SS (256), you will always get 100% loss for these perils, regardless of the % value entered in the analysis setting. You can only set the % PF/SS if your exposures are coded for WS (1) only.

ShopVac

Use this to pull AIR results: ShopVac
 

Earthquake

VVOR
VRISC (but model in RMS as well)
Data
Usually EDM is provided
Aggregated EFEI exposures is provided
Model
Model EQ+FF
RMS ALM analyses
- Default Profiles: EQ Only
- Manually attach EQ+FF profiles for EFEI
Follows Broker's Profile
- VRI­SC+ <- VRISC cant model aggreg­ately
LAE
1 for Japan Domiciled Clients

Policy Terms

Step Functions
POLICY­STR­UCTURE = 2 from the policy table
Payoffs by buckets
GR could be larger than GU losses
Fran­chise Deductibles
Portfolio name with FR OR results dont match
Use RDP USMDR­MS1­9-31 to model
Extra Expense Policies (Wind)
GR could be larger than GU losses because Extra Expense policies are not accounted for in exposures

VRISC vs RMS

YOY change in EQ losses from RiskLink was very different than VRISC.
Sompo Japan Nipponkoa Insurance Inc – 2019 EQ QS (28029)
Large RMS losses reduction but not VRISC is seen due to changes in YearBuilt.
 

The Big 4 - AIR Modeling

The Big Four are Aioi, Mits­ui, Sompo Japan and Tokio Marine
1) Save AAL by Loc to a Central DB using SQL
2) Populate info in here

SASTI

Create Modeling Data from Policy info/Agg text; might involve coding Step functions and Extra Expense policies
Refer Sample

Glossary

Earthquake Fire Expense Insurance (EFEI)
Pay additional expenses caused by fire following an earthquake
Does not fall under the govern­ment’s JER program.
Included as a standard feature in non-life insurers normal fire insurance policies
Small -amount and short-term insurance (SASTI)
Insurance periods of one year or less (with respect to non-life insurance, two years or less)
Insurance amounts not exceeding certain amounts stipulated in IBA (i.e., JPY10 million for non-life insurance)

References

1) For investigations:
- JapanEQ_Sensitivty_AAL_Comparison
- JPWS_S­ens­iti­vit­y_A­AL_­Com­par­iso­n_TSv7
 

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