summary.permutedReserve: Summary Method for Objects of the S3 Class Method...

In ProfileLadder: Functional Profile Chain Ladder for Claims Reserving

Summary Method for Objects of the S3 Class Method permutedReserve

Description

The function provides an overall summary of the output from the functions permuteReserve() (i.e., the summary of the object of the class permutedReserve)

Usage

## S3 method for class 'permutedReserve'
summary(object, ...)

Arguments

object	an object of the class permutedReserve – i.e., the output form the permuteReserve() functions
...	not used

Value

Summary of the completed functional profiles (provided by one of the functions parallelReserve() or mcReserve()) and the overall reserve distribution obtained in terms of the permutation bootstrap – the function permuteReserve(). The output is a list with the following items:

origins

a matrix with the row-specific summary of the completed functional profiles (except the first fully developed profile—i.e., the first row in the run-off triangle). The first column of the matrix (First) gives the first origin payments; The second column (Latest) gives the last available (cumulative) payments (i.e., values from the last running diagonal in the run-off triangle); The third column (Dev.To.Date) gives a relative proportion of the paid amount (Latest) with respect to the estimated ultimate (Ultimate) given in the fourth column; The column denoted as IBNR gives the estimated amount still left to pay (Incurred But Not Reported)

; The sixth column provides the estimated standard errors (S.E.) of IBNR obtained from the permutation bootstrap; The last column returns the corresponding coefficients of variation (CV).

overall

Table with the summary of the true/estimated reserve: Paid amount represents the sum of the last running diagonal; Estimated reserve gives the reserve estimate provided by one of the estimation algorithm (PARALLAX, REACT, or MACRAME); True reserve is given as a sum of the last column (if available, NA otherwise); Finally, some Accuracy in terms of Reserve% is given as a percentage of the estimated reserve with respect to the true reserve (see Maciak, Mizera, and Pešta (2022) and Dev.To.Date gives the proportion of the overall estimatd ultimate and the overall paid amount

dist

Table with basic empirical characteristics of the overall reserve distribution provided by the permutation bootstrap: Boot.Mean stands for the empirical mean of the bootstrap distribution; Std.Er. gives the corresponding standard error of the bootstrap distribution; BootCov% stands for a percentage proportion between the standard error and the empirical mean of the bootstrap distribution; Finally, BootVar.xxx provides the estimated quantile of the bootstrap reserve distribution (0.995 by DEFAULT).

See Also

parallelReserve(), mcReserve(), permuteReserve()

Examples

data(CameronMutual)
summary(CameronMutual)

## summary for the point reserve prediction
summary(parallelReserve(CameronMutual))

## summary for the overall reserve distribution
summary(permuteReserve(parallelReserve(CameronMutual)))

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