claim_size_adj

Adjusts claim sizes given a set of covariates. Note that this function firstly simulates covariate levels for each claim, see <code>simulate_covariates</code>.

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" <doi:10.48550/arXiv.2008.05693>.

Melantha Wang

SynthETIC

Synthetic Experience Tracking Insurance Claims

Benjamin Avanzi

William Ho

Greg Taylor

Bernard Wong

claim_size_adj function

<dl><dt>covariate_obj</dt>
<dd>a <code>covariates</code> object</dd>
<dt>claim_size</dt>
<dd>a list in the same output as <code>claim_size</code></dd>
<dt>random_seed</dt>
<dd>optional seed for random number generation for
reproducibility.</dd></dl>

Arguments

Covariates Claim Size Adjustment — claim_size_adj

<dl>

<dt>covariate_obj</dt>
<dd>a <code>covariates</code> object</dd>


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


<dt>random_seed</dt>
<dd>optional seed for random number generation for
reproducibility.</dd>

</dl>

claim_size_adj: Covariates Claim Size Adjustment

Description

Usage

Value

Arguments