IBNR (incurred but not reported claims)

Roles that need it

• P&C Actuarial Analyst (Pricing & Reserving)
• Claims Analyst
• Actuarial Analyst
• Reinsurance Analyst

Skills it belongs to

• Insurance pricing, reserving and product economics
• Forecasting methods and time series
• Insurance claims handling and adjusting

Related concepts

• Technical provisionsTechnical provisions are the value of an insurer's obligations to policyholders under Solvency II, equal to a best estimate of discounted future cash flows plus a risk margin. They correspond to the amount another insurer would require to take over the obligations.
• Combined ratioThe combined ratio is the main profitability measure of non-life insurance: claims incurred plus expenses, divided by earned premiums. A ratio below 100 percent means an underwriting profit before investment income. It splits into a loss ratio and an expense ratio.
• IFRS 17 Insurance ContractsIFRS 17 is the accounting standard for insurance contracts, effective from 1 January 2023. It measures contracts as fulfilment cash flows (discounted, risk-adjusted estimates) plus a contractual service margin that releases profit as the insurer provides cover.

Sources

• Commission Delegated Regulation (EU) 2015/35 (Solvency II), EUR-Lex (external site) accessed 31 Oct 2026
• IFRS 17 Insurance Contracts, IFRS Foundation (external site) accessed 31 Oct 2026

Updated 31 Oct 2026.