claim_size_adj.fit

Adjusts claim sizes given the covariates related to each claim. The relative adjustment of each claim size is given by the severity relativities of the covariates.

Creation of an individual claims simulator which generates various
features of non-life insurance claims. An initial set of test parameters,
designed to mirror the experience of an Auto Liability portfolio, were set
up and applied by default to generate a realistic test data set of
individual claims (see vignette). The simulated data set then allows
practitioners to back-test the validity of various reserving models and to
prove and/or disprove certain actuarial assumptions made in claims
modelling. The distributional assumptions used to generate this data set can
be easily modified by users to match their experiences. Reference: Avanzi B,
Taylor G, Wang M, Wong B (2020) "SynthETIC: an individual insurance claim
simulator with feature control" <arXiv:2008.05693>.

Melantha Wang

SynthETIC

Synthetic Experience Tracking Insurance Claims

Benjamin Avanzi

William Ho

Greg Taylor

Bernard Wong

claim_size_adj.fit function

<dl><dt>covariates_data</dt>
<dd>a <code>covariates_data</code> object</dd>
<dt>claim_size</dt>
<dd>a list in the same output as <code>claim_size</code></dd></dl>

Arguments

Covariates Claim Size Adjustment — claim_size_adj.fit

<dl>

<dt>covariates_data</dt>
<dd>a <code>covariates_data</code> object</dd>


<dt>claim_size</dt>
<dd>a list in the same output as <code>claim_size</code></dd>

</dl>

claim_size_adj.fit: Covariates Claim Size Adjustment

Description

Usage

Arguments