In PirateGrunt/stanard: Simulate General Insurance Policies and Losses

Description: For some years now, there has been a publicly available data set of aggregate losses exist. This has been a great boon to researchers who are able to test loss reserving methods against actual data. However, there is nothing comparable for individual claims. The R package that I will present is a platform-independent simulation tool which is highly customizable and capable of generating data for virutally any practical scenario.

Learning Objective 1: Participants will see how this package may be used to generate data which eanbles the assessment of the efficacy of various reserving techniques - including those meant to be applied to individual claims.

Learning Objective 2: Understand how one may simulate policy renewal, contraction and growth, associate claims with exposure and consider various loss generating processes.

Learning Objective 3: Participants will gain an understanding of previously proposed random simulation methods like that proposed by Stanard, the Loss Simulation Model Working Party and others.

PirateGrunt/stanard documentation built on Jan. 15, 2022, 2:20 p.m.