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Abstract

System and method for automated experience rating and/or loss reserving for events, a certain event P.sub.i,f of an initial year i including development values P.sub.ikf with development year k. For i, k applicable is i=1, . . . , K and k=1, . . . , K, K being the last known development year, and the first initial year i=1 comprising all development values P.sub.1kf in a specified way. To determine the development values P.sub.i,K-(i-j)+1,f neural networks N.sub.i,j are generated iteratively for each initial year i (i-1), whereby j=1, . . . ,(i-1) are the number of iterations for a particular initial year i and whereby the neural network N.sub.i,j+1 depends recursively on the neural network N.sub.i,j. In particular the system and method is suitable for experience rating for insurance contracts and/or excess of loss reinsurance contracts.

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