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summary

Display summary report for different claims estimates for chain ladder

Since R2020b

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Syntax

unpaidClaimsEstimateTable = summary(cl)

Description

unpaidClaimsEstimateTable = summary(cl) displays the latest diagonal of both reported and paid development triangles, projected ultimate claims, case outstanding, IBNR claims, and the total unpaid claims estimates.

example

Examples

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Open Live Script

Generate the summary report for a chainLadder 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 a chainLadder object where the first input argument is the reported development triangle and the second input argument is the paid development triangle.

cl = chainLadder(dT_reported, dT_paid)
cl = 
  chainLadder with properties:

    ReportedTriangle: [1x1 developmentTriangle]
        PaidTriangle: [1x1 developmentTriangle]
     CaseOutstanding: [10x1 double]

Use ibnr to compute the incurred-but-not-reported (IBNR).

ibnrClaims = ibnr(cl,'reported')
ibnrClaims = 10×1
103 ×

         0
    0.0052
    0.0169
    0.0349
    0.0575
    0.0880
    0.1489
    0.3019
    0.6084
    1.5181

Use unpaidClaims to compute the unpaid claims.

unpaidClaimsEstimate = unpaidClaims(cl,'reported')
unpaidClaimsEstimate = 10×1
103 ×

    0.1968
    0.0506
    0.1300
    0.1097
    0.1771
    0.0972
    0.3908
    0.9851
    1.7175
    3.6992

Use summary to display the latest diagonal of both reported and paid development triangles, projected ultimate claims, cases outstanding, IBNR claims, and total unpaid claims estimates.

unpaidClaimsEstimateTable = summary(cl)
unpaidClaimsEstimateTable=11×9 table
             Reported Claims    Paid Claims    Projected Ultimate Reported Claims    Projected Ultimate Paid Claims    Case Outstanding    IBNR with Reported Claims    IBNR with Paid Claims    Total with Reported Claims    Total with Paid Claims
             _______________    ___________    __________________________________    ______________________________    ________________    _________________________    _____________________    __________________________    ______________________

    2010         5089.4           4892.6                     5089.4                              4892.6                     196.79                       0                     -196.79                     196.79                           0        
    2011         5179.9           5134.4                     5185.1                              5139.6                      45.46                  5.1857                     -40.334                     50.646                      5.1263        
    2012         5625.4           5512.3                     5642.3                              5528.8                     113.15                   16.89                     -96.602                     130.04                      16.548        
    2013         5803.7           5728.9                     5838.6                              5774.8                      74.83                  34.887                     -28.904                     109.72                      45.926        
    2014         5878.7           5759.1                     5936.2                              5861.9                     119.58                  57.515                     -16.814                      177.1                      102.77        
    2015         5772.8           5763.6                     5860.8                              5981.4                        9.2                  87.959                      208.63                     97.159                      217.83        
    2016         5714.3           5472.4                     5863.2                              5915.8                     241.88                  148.95                      201.58                     390.83                      443.46        
    2017         5854.4           5171.2                     6156.4                              6101.4                     683.23                  301.91                      246.93                     985.14                      930.16        
    2018         5495.1           4386.1                     6103.5                              6171.2                       1109                  608.43                      676.08                     1717.5                      1785.1        
    2019         4945.9           2764.8                       6464                              6742.8                     2181.1                  1518.1                      1796.9                     3699.2                        3978        
    Total         55360            50585                      58139                               58110                     4774.2                  2779.9                      2750.7                     7554.1                      7524.9

Input Arguments

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Chain ladder, specified as a previously created chainLadder object.

Data Types: object

Output Arguments

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Different claims estimates obtained using the chain ladder technique, returned as a table.

Version History

Introduced in R2020b

See Also

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