summary

Display summary report for Bornhuetter-Ferguson analysis

Since R2020b

Syntax

``unpaidClaimsEstimateTable = summary(bf)``

Description

example

````unpaidClaimsEstimateTable = summary(bf)` displays a summary report of different claims estimates using the Bornhuetter-Ferguson technique. The report displays the latest diagonal of both reported and paid development triangles, projected ultimate claims, cases outstanding, IBNR claims, and total unpaid claims estimates.```

Examples

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Generate a summary report for a `bornhuetterFerguson` object containing simulated insurance claims data.

```load InsuranceClaimsData.mat; head(data)```
``` OriginYear DevelopmentYear ReportedClaims PaidClaims __________ _______________ ______________ __________ 2010 12 3995.7 1893.9 2010 24 4635 3371.2 2010 36 4866.8 4079.1 2010 48 4964.1 4487 2010 60 5013.7 4711.4 2010 72 5038.8 4805.6 2010 84 5059 4853.7 2010 96 5074.1 4877.9 ```

Use `developmentTriangle` to convert the data to a development triangle, which is the standard form for representing claims data. Create two `developmentTriangle` objects, one for reported claims and one for paid claims.

`dT_reported = developmentTriangle(data,'Origin','OriginYear','Development','DevelopmentYear','Claims','ReportedClaims')`
```dT_reported = developmentTriangle with properties: Origin: {10x1 cell} Development: {10x1 cell} Claims: [10x10 double] LatestDiagonal: [10x1 double] Description: "" TailFactor: 1 CumulativeDevelopmentFactors: [1.3069 1.1107 1.0516 1.0261 1.0152 1.0098 1.0060 1.0030 1.0010 1] SelectedLinkRatio: [1.1767 1.0563 1.0249 1.0107 1.0054 1.0038 1.0030 1.0020 1.0010] ```
`dT_paid = developmentTriangle(data,'Origin','OriginYear','Development','DevelopmentYear','Claims','PaidClaims')`
```dT_paid = developmentTriangle with properties: Origin: {10x1 cell} Development: {10x1 cell} Claims: [10x10 double] LatestDiagonal: [10x1 double] Description: "" TailFactor: 1 CumulativeDevelopmentFactors: [2.4388 1.4070 1.1799 1.0810 1.0378 1.0178 1.0080 1.0030 1.0010 1] SelectedLinkRatio: [1.7333 1.1925 1.0914 1.0417 1.0196 1.0097 1.0050 1.0020 1.0010] ```

Create an `expectedClaims` object where the first input argument is the reported development triangle and the second input argument is the paid development triangle.

```earnedPremium = [17000; 18000; 10000; 19000; 16000; 10000; 11000; 10000; 14000; 10000]; ec = expectedClaims(dT_reported, dT_paid,earnedPremium)```
```ec = expectedClaims with properties: ReportedTriangle: [1x1 developmentTriangle] PaidTriangle: [1x1 developmentTriangle] EarnedPremium: [10x1 double] InitialClaims: [10x1 double] CaseOutstanding: [10x1 double] EstimatedClaimsRatios: [10x1 double] SelectedClaimsRatios: [10x1 double] ```

Create a `bornhuetterFerguson` object with reported claims, paid claims, and expected claims to calculate ultimate claims, cases outstanding, IBNR claims, and unpaid claims estimates.

`bf = bornhuetterFerguson(dT_reported, dT_paid, ec.ultimateClaims)`
```bf = bornhuetterFerguson with properties: ReportedTriangle: [1x1 developmentTriangle] PaidTriangle: [1x1 developmentTriangle] ExpectedClaims: [10x1 double] PercentUnreported: [10x1 double] PercentUnpaid: [10x1 double] CaseOutstanding: [10x1 double] ```

Use `summary` to display the latest diagonal of both reported and paid development triangles, projected ultimate claims, cases outstanding, IBNR claims, and total unpaid claims estimates for a `bornhuetterFerguson` object.

`unpaidClaimsEstimateTable = summary(bf)`
```unpaidClaimsEstimateTable=11×9 table Reported Claims Paid Claims Projected Ultimate Reported Claims Projected Ultimate Paid Claims Case Outstanding IBNR with Reported Claims IBNR with Paid Claims Total with Reported Claims Total with Paid Claims _______________ ___________ __________________________________ ______________________________ ________________ _________________________ _____________________ __________________________ ______________________ 2010 5089.4 4892.6 5089.4 4892.6 196.79 0 -196.79 196.79 0 2011 5179.9 5134.4 5185.1 5139.6 45.46 5.1629 -40.311 50.623 5.149 2012 5625.4 5512.3 5642.1 5529 113.15 16.72 -96.432 129.87 16.718 2013 5803.7 5728.9 5838.4 5775 74.83 34.696 -28.65 109.53 46.18 2014 5878.7 5759.1 5935.8 5862.5 119.58 57.155 -16.162 176.74 103.42 2015 5772.8 5763.6 5861.7 5979.3 9.2 88.864 206.43 98.064 215.63 2016 5714.3 5472.4 5863.9 5913.9 241.88 149.62 199.61 391.5 441.49 2017 5854.4 5171.2 6155 6105.6 683.23 300.57 251.12 983.8 934.35 2018 5495.1 4386.1 6106.9 6161.4 1109 611.8 666.3 1720.8 1775.3 2019 4945.9 2764.8 6496.8 6660.6 2181.1 1550.9 1714.7 3732 3895.8 Total 55360 50585 58175 58019 4774.2 2815.4 2659.8 7589.7 7434 ```

Input Arguments

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Bornhuetter-Ferguson object, specified as a previously created `bornhuetterFerguson` object.

Data Types: `object`

Output Arguments

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Report of claims estimates obtained using the Bornhuetter-Ferguson technique, returned as a table.

Version History

Introduced in R2020b