simulate_claims: simulate_claims

In jimbrig/lossrx: Actuarial Loss Development and Reserving with R

simulate_claims

Description

A function to simulate transactional actuarial claims/loss data for Property Casualty Insurance.

Usage

simulate_claims(
  n_claims = 1000,
  start_date = "2015-01-01",
  end_date = Sys.Date(),
  seed = 12345,
  loss_distribution = "lnorm",
  params = list(mean_log = 7.5, sd_log = 1.5),
  status_prob_open = 0.96,
  cache = FALSE,
  ...
)

Arguments

n_claims	Numeric - Number of claims to be simulated.
start_date, end_date	Character/Date - Start and End dates for simulation to create claims within (experience_period).
seed	Numeric - the seed is used to isolate randomness during statistical simulations.
loss_distribution	Character - must be one of the distributions mentioned in the details below. Defaults to lognormal.
params	Parameters associated with the specified loss_distribution in a list (i.e. list(mean_log = 7.5, sd_log = 1.5) for lognormal distribution).
status_prob_open	Numeric - must be within ⁠0 < x < 1⁠ and represents probability a claim is open when running binomial simulations for claims' status.
cache	Boolean/Logical - enable caching?
...	If needed

Details

Severity/Loss Distributions:

• Normal: norm

• Lognormal: lnorm

• Gamma: gamma

• LogGamma: lgamma

• Pareto: pareto

• Weibull: weibull

• Generalized Beta: genbeta

Value

The return value, if any, from executing the function.

jimbrig/lossrx documentation built on Dec. 20, 2024, 3:46 a.m.