SynthETIC

Synthetic Experience Tracking Insurance Claims

Greg Taylor, William Ho, Bernard Wong, Melantha Wang, Benjamin Avanzi

Last update: 27 January 2024

Copyright license: GNU General Public License, version 3.0

Software version identifier: 1.0.4, 0.1.0, 1.0.0, 1.0.1, 1.0.2, 1.0.5, 1.1.0

Source code repository: https://github.com/cran/SynthETIC

Description

Creation of an individual claims simulator which generates various features of non-life insurance claims. An initial set of test parameters, designed to mirror the experience of an Auto Liability portfolio, were set up and applied by default to generate a realistic test data set of individual claims (see vignette). The simulated data set then allows practitioners to back-test the validity of various reserving models and to prove and/or disprove certain actuarial assumptions made in claims modelling. The distributional assumptions used to generate this data set can be easily modified by users to match their experiences. Reference: Avanzi B, Taylor G, Wang M, Wong B (2020) "SynthETIC: an individual insurance claim simulator with feature control" <arXiv:2008.05693>.

Cites work

SynthETIC: an individual insurance claim simulator with feature control