summary
Description
displays the summary report for the latest diagonal of both reported and paid
development triangles, projected ultimate claims, cases outstanding, IBNR claims,
and total unpaid claims estimates.unpaidClaimsEstimateTable
= summary(ec
)
Examples
Generate Summary Report for expectedClaims
Object
Generate the summary report for different claims estimates for an expectedClaims
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. Create two developmentTriangle
objects, one for reported claims and one for paid claims.
dT_reported = developmentTriangle(data,'Origin','OriginYear','Development','DevelopmentYear','Claims','ReportedClaims')
dT_reported = 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]
dT_paid = developmentTriangle(data,'Origin','OriginYear','Development','DevelopmentYear','Claims','PaidClaims')
dT_paid = developmentTriangle with properties: Origin: {10x1 cell} Development: {10x1 cell} Claims: [10x10 double] LatestDiagonal: [10x1 double] Description: "" TailFactor: 1 CumulativeDevelopmentFactors: [2.4388 1.4070 1.1799 1.0810 1.0378 1.0178 1.0080 1.0030 1.0010 1] SelectedLinkRatio: [1.7333 1.1925 1.0914 1.0417 1.0196 1.0097 1.0050 1.0020 1.0010]
Create an expectedClaims
object where the first input argument is the reported development triangle and the second input argument is the paid development triangle.
earnedPremium = [17000; 18000; 10000; 19000; 16000; 10000; 11000; 10000; 14000; 10000]; ec = expectedClaims(dT_reported, dT_paid,earnedPremium)
ec = expectedClaims with properties: ReportedTriangle: [1x1 developmentTriangle] PaidTriangle: [1x1 developmentTriangle] EarnedPremium: [10x1 double] InitialClaims: [10x1 double] CaseOutstanding: [10x1 double] EstimatedClaimsRatios: [10x1 double] SelectedClaimsRatios: [10x1 double]
Use summary
to display the report for the latest diagonal of both reported and paid development triangles, projected ultimate claims, cases outstanding, IBNR claims, and total unpaid claims estimates.
unpaidClaimsEstimateTable = summary(ec)
unpaidClaimsEstimateTable=11×6 table
Reported Claims Paid Claims Ultimate Claims Case Outstanding IBNR Total Unpaid Claim Estimate
_______________ ___________ _______________ ________________ _______ ___________________________
2010 5089.4 4892.6 4991 196.79 -98.395 98.395
2011 5179.9 5134.4 5162.3 45.46 -17.574 27.886
2012 5625.4 5512.3 5585.6 113.15 -39.856 73.294
2013 5803.7 5728.9 5806.7 74.83 2.9912 77.821
2014 5878.7 5759.1 5899 119.58 20.351 139.93
2015 5772.8 5763.6 5921.1 9.2 148.29 157.49
2016 5714.3 5472.4 5889.5 241.88 175.26 417.14
2017 5854.4 5171.2 6128.9 683.23 274.42 957.65
2018 5495.1 4386.1 6137.4 1109 642.25 1751.3
2019 4945.9 2764.8 6603.4 2181.1 1657.5 3838.6
Total 55360 50585 58125 4774.2 2765.3 7539.5
Input Arguments
ec
— Expected claims
expectedClaims
object
Expected claims, specified as a previously created expectedClaims
object.
Data Types: object
Output Arguments
unpaidClaimsEstimateTable
— Displays different claims estimates using the expected claims technique
table
Displays different claims estimates using the expected claims technique, returned as a table.
Version History
Introduced in R2020b
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