plot.MunichChainLadder: Plot method for a MunichChainLadder object

In ChainLadder: Statistical Methods and Models for Claims Reserving in General Insurance

Plot method for a MunichChainLadder object

Description

plot.MunichChainLadder, a method to plot the output of MunichChainLadder object. It is designed to give a quick overview of a MunichChainLadder object and to check the correlation between the paid and incurred residuals.

Usage

## S3 method for class 'MunichChainLadder'
plot(x,  mfrow=c(2,2), title=NULL, ...)

Arguments

x	output from MunichChainLadder
mfrow	see par
title	see title
...	optional arguments. See plot.default for more details.

Details

plot.MunichChainLadder shows four plots, starting from the top left with a barchart of forecasted ultimate claims costs by Munich-chain-ladder (MCL) on paid and incurred data by origin period; the barchart next to it compares the ratio of forecasted ultimate claims cost on paid and incurred data based on the Mack-chain-ladder and Munich-chain-ladder methods; the two residual plots at the bottom show the correlation of (incurred/paid)-chain-ladder factors against the paid-chain-ladder factors and the correlation of (paid/incurred)-chain-ladder factors against the incurred-chain-ladder factors.

Note

The design of the plots follows those in Quarg's (2004) paper: Gerhard Quarg and Thomas Mack. Munich Chain Ladder. Blatter DGVFM 26, Munich, 2004.

Author(s)

Markus Gesmann

See Also

See also MunichChainLadder

Examples

M <- MunichChainLadder(MCLpaid, MCLincurred)
plot(M)

ChainLadder documentation built on Sept. 11, 2024, 8:35 p.m.