MidwestMutual: Midwest Family Mutual Insurance Company Data

In ProfileLadder: Functional Profile Chain Ladder for Claims Reserving

Midwest Family Mutual Insurance Company Data

Description

An illustrative dataset—a matrix (of the dimensions 10x10) with ten completed years of claims payment developments of the Midwest Family Mutual Insurance company from the period 1988 – 1997. The data matrix contains ten origin/occurrence years (with the first row representing the incident year 1988) and ten consecutive development periods/years (in columns).

Usage

data(MidwestMutual)

Format

MidwestMutual

A simple 10x10 matrix of a class triangle with ten origin years (rows) each being fully developed within ten consecutive development periods/years (columns)

origin

matrix rows with the occurrence year (origin)

dev

matrix columns with the development period (development)

Details

The run-off triangle (the upper-left triangular part of the data matrix) contains only positive increments making the triangle suitable for the standard modelling approach—the over-dispersed Poisson model (GLM approach).

In practice, the run-off triangle only (the upper triangular part) of the data matrix is known while the bottom-right triangular part is treated as a future outcome (an "unknown" truth) that should be estimated/predicted. The Midwest Family Mutual Insurance data matrix is fully observed to allow for some retrospective goodness-of-fit evaluations.

Source

https://www.casact.org/publications-research/research/research-resources
(Other Liability Data Set, NAIC group code: 23574)

References

Meyers, G. G. and P. Shi (2011). Loss reserving data pulled from NAIC Schedule P. Available from https://www.casact.org/publications-research/research/research-resources

Maciak, M., Mizera, I., and Pešta, M. (2022). Functional Profile Techniques for Claims Reserving. ASTIN Bulletin, 52(2), 449-482. DOI:10.1017/asb.2022.4 (Portfolio #2)

ProfileLadder documentation built on Aug. 8, 2025, 6:10 p.m.