---
path: /reserving
title: "Reserving & close: Triangles, IBNR, and the quarterly cycle"
description: "Reserving and the quarterly close on one workbench: triangles squared on ingest, chain ladder and Bornhuetter-Ferguson side by side, and an IBNR with every value traced to source."
section: Product
priority: 0.9
changefreq: monthly
source_file: pages/marketing/ReservingPage.tsx
---
# Reserving & close: Triangles, IBNR, and the quarterly cycle

# The triangle is squared before you sit down.

Point the study at last quarter and the methods come with it: your factors, your tail, your selected ultimates, carried forward rather than rebuilt. The quarter opens on the newest diagonal and whether it moved.

## From the loss runs to a booked IBNR.

**Most of the month goes on getting the data into a shape you can work with. That is the part we take.**

## A quarterly close, run in an afternoon.

**Tesora reserving walkthrough**

Start to booked IBNR, narrated, with captions in the player.

## What a reserve review arrives as.

“”

## What that afternoon is made of.

Timings from pilots with specialty P&C teams. The number that matters is the one your own close takes today.

## If it cannot cite the page, it does not ship.

**Every base rate, factor, credit and trend number carries the page and cell it came from. That is the difference between a number you can defend on the spot and a number you have to go back and find. An audit agent regrades the whole analysis against the CAS Statements of Principles before anybody on the committee sees it.**

**Bring last quarter’s close.**

The one that took three weeks. The triangles arrive squared, so the first thing in front of you is the judgment.

**Loss-run normalization across carriers**

Five carriers, five formats, one normalized table with full provenance.

**Rate-committee brief**

What changed between filings, how the classes are trending, and every claim pointing back to the filing it came from.

**Severity fit and segment analysis**

Distributions fitted with credibility weighting, the segments broken out, and the memo written the way a memo gets written.

**Last quarter, linked as the predecessor**

The selections you made last time come across with the study, so actual-versus-expected is on the screen rather than on somebody’s list of things to rebuild.

Close commercial auto for the quarter and give me something the committee can sign.