NevadaGeneral: Nevada General Insurance Company Data
In ProfileLadder: Functional Profile Chain Ladder for Claims Reserving

NevadaGeneral

R Documentation

Nevada General Insurance Company Data

Description

An illustrative dataset—a matrix (of the dimensions 10x10) with ten completed years of claims payment developments of the Nevada General Insurance company from the period 1988 – 1997. However, the data matrix only contains four non-zero origin/occurrence years (from the period 1994 – 1997) all being fully developed for ten consecutive development periods/years (in columns). The remaining matrix rows are all zeros. The resulting run-off triangle (the upper-left triangular part of the data matrix) is, therefore, sparse and very uninformative.

Usage

data(NevadaGeneral)

Format

NevadaGeneral

A simple 10x10 matrix of a class triangle with ten origin years (rows) each being fully developed within ten consecutive development periods (columns). However, only for development profiles are nonzero and standard (parametric) reserving techniques (e.g. the ODP model) are not applicable

origin: matrix rows with the occurrence year (origin)
dev: matrix columns with the development period (development)

Details

In practice, the reserve for such sparse run-off triangles is not estimated by any stochastic model but, instead, an expert judgement is used to declare the reserve. Nevertheless, the nonparametric estimation performed by PARALLAX, REACT, or MACRAME can still provide resonable reserve estimates