Projecting the Effect of Inflation on Spanish Motor Vehicle Bodily Injury Claims

The report details a five-month internship at Liberty Seguros within their Actuarial Non-Life Reserving team in Portugal, part of Liberty Seguros Spain and operating within the Western Europe Market of the Liberty Mutual Group. The focus was on analyzing the company's reserve levels, creating financial models for future liabilities, and utilizing statistical software and actuarial models for data analysis and loss trend examination. Collaborating with senior actuaries and contributing to the development of a reserve model for the motor line of business in Spain were key aspects of the internship. The report outlines gained skills, including actuarial methodologies, enhanced data analysis proficiency, and experience with statistical software. Recommendations for improving reserving processes at Liberty Seguros are provided, particularly emphasizing the incorporation of future inflation in reserve modeling. Overall, the internship offered valuable insights into actuarial reserving operations within the insurance industry, providing practical experience for future career endeavors as an actuary.