US Patent 8452621 System and method for determining loss reserves

A system, method and computer readable storage medium for receiving, from a user, a selection of a model to perform a loss reserve calculation, receiving, from the user, a selection of actual data directly from a workbook of a spreadsheet application to be input into the model selected to perform the loss reserve calculation, performing a model fitting calculation based on the model selected and the actual data to generate model fitted results, performing a plurality of simulations, wherein each simulation is based on the model fitted results and random re-sampling with replacement for the actual data and generating loss reserve statistics based on the plurality of simulations.