Nothing
# Initial estimate based on Paid Triangles
paid <- AutoBI$AutoBIPaid
# Get estimates based on std paid triangle data
paid_res <- MackChainLadder(paid)
# Plot initial results
plot(paid_res)
# Adjust the Paid Triangle based on the disposal rates
paid_adj <-
BS.paid.adj(
Triangle.rep.counts = AutoBI$AutoBIReportedCounts,
Triangle.closed = AutoBI$AutoBIClosed,
Triangle.paid = AutoBI$AutoBIPaid,
regression.type = 'exponential'
)
# Estimates based on the adjusted Triangle
paid_adj_res <- MackChainLadder(paid_adj)
# Plot Results
plot(paid_adj_res)
# IBNR Differences
# Get the IBNR considering the std Paid triangle
sum_paid<-summary(paid_res)
ibnr_paid<-sum_paid$Totals[4,1]
# Get the IBNR considering the adjusted Paid triangle
sum_paid_adj<-summary(paid_adj_res)
ibnr_paid_adj<-sum_paid_adj$Totals[4,1]
# Compare the differences
df <- c(ibnr_paid,ibnr_paid_adj)
# It is possible to appreciate the differences in the IBNR that such adjustment leads to
barplot(height=df, main="IBNR",xlab="", names.arg = c("ibnr_paid","ibnr_adj_paid"))
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