ultimateClaims
Description
calculates the projected ultimate claims for each origin period, based on the
observed claims and the cumulative development factors.projectedUltimateClaims
= ultimateClaims(dT
)
Examples
Calculate the Projected Ultimate Claims for Development Triangle
Calculate the projected ultimate claims for a developmentTriangle
object containing simulated insurance claims data.
load InsuranceClaimsData.mat;
head(data)
OriginYear DevelopmentYear ReportedClaims PaidClaims __________ _______________ ______________ __________ 2010 12 3995.7 1893.9 2010 24 4635 3371.2 2010 36 4866.8 4079.1 2010 48 4964.1 4487 2010 60 5013.7 4711.4 2010 72 5038.8 4805.6 2010 84 5059 4853.7 2010 96 5074.1 4877.9
Use developmentTriangle
to convert the data to a development triangle which, is the standard form for representing claims data.
dT = developmentTriangle(data)
dT = developmentTriangle with properties: Origin: {10x1 cell} Development: {10x1 cell} Claims: [10x10 double] LatestDiagonal: [10x1 double] Description: "" TailFactor: 1 CumulativeDevelopmentFactors: [1.3069 1.1107 1.0516 1.0261 1.0152 1.0098 1.0060 1.0030 1.0010 1] SelectedLinkRatio: [1.1767 1.0563 1.0249 1.0107 1.0054 1.0038 1.0030 1.0020 1.0010]
Use the cdfSummary
function to calculate CDFs and the percentage of total claims and return a table with the selected link ratios, CDFs, and percentage of total claims.
dT.SelectedLinkRatio = [1.1755, 1.0577, 1.0273, 1.0104, 1.0044, 1.0026, 1.0016, 1.0006, 1.0004]; selectedLinkRatiosTable = cdfSummary(dT)
selectedLinkRatiosTable=3×10 table
12-24 24-36 36-48 48-60 60-72 72-84 84-96 96-108 108-120 Ultimate
_______ _______ _______ _______ _______ _______ ______ ______ _______ ________
Selected 1.1755 1.0577 1.0273 1.0104 1.0044 1.0026 1.0016 1.0006 1.0004 1
CDF to Ultimate 1.303 1.1084 1.048 1.0201 1.0096 1.0052 1.0026 1.001 1.0004 1
Percent of Total Claims 0.76747 0.90216 0.95422 0.98027 0.99046 0.99482 0.9974 0.999 0.9996 1
Use the ultimateClaims
function to calculate the projected ultimate claims for each origin period, based on the observed claims and the cumulative development factors.
projectedUltimateClaims = ultimateClaims(dT)
projectedUltimateClaims = 10×1
103 ×
5.0894
5.1820
5.6310
5.8188
5.9093
5.8284
5.8293
6.1353
6.0911
6.4444
Input Arguments
dT
— Development triangle
developmentTriangle
object
Development triangle, specified as a previously created developmentTriangle
object.
Data Types: object
Output Arguments
projectedUltimateClaims
— Projected ultimate claims obtained using development technique
vector
Projected ultimate claims obtained using the development technique, returned as a vector.
Version History
Introduced in R2020b
MATLAB Command
You clicked a link that corresponds to this MATLAB command:
Run the command by entering it in the MATLAB Command Window. Web browsers do not support MATLAB commands.
Select a Web Site
Choose a web site to get translated content where available and see local events and offers. Based on your location, we recommend that you select: .
You can also select a web site from the following list:
How to Get Best Site Performance
Select the China site (in Chinese or English) for best site performance. Other MathWorks country sites are not optimized for visits from your location.
Americas
- América Latina (Español)
- Canada (English)
- United States (English)
Europe
- Belgium (English)
- Denmark (English)
- Deutschland (Deutsch)
- España (Español)
- Finland (English)
- France (Français)
- Ireland (English)
- Italia (Italiano)
- Luxembourg (English)
- Netherlands (English)
- Norway (English)
- Österreich (Deutsch)
- Portugal (English)
- Sweden (English)
- Switzerland
- United Kingdom (English)