October 2014
Intermediate to advanced
584 pages
22h 2m
English
Content preview from Pricing in General Insurance
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219Severity Modelling: Adjusting for IBNER and Other Factors
Development
year 2
Development
year 3
Development
factor from
year 2 to year 3
Outstanding ratio
1419 1419 1.00 0%
1809 1809 1.00 0%
1,332,408 1.28 99%
48,001 48,001 1.00 87%
111,808 111,808 1.00 0%
200,050 200,050 1.00 0%
30,494 2777 0.09 98%
149,398 228,689 1.53 42%
80,387 80,387 1.00 65%
9026 9026 1.00 0%
280 6819 24.36 81%
1419 1419 1.00 0%
978 978 1.00 0%
1355 1355 1.00 58%
1,041,681
iv. Explain the relative advantages/disadvantages of each of the three types of
average mentioned in (iii) for the purpose of calculating IBNER factors.
2. As a result of the overall IBNER a ...
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