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Separation of Inflation and other Effects from the Distribution of Non-Life Insurance Claim Delays

Published online by Cambridge University Press:  29 August 2014

G. C. Taylor
G. C. Taylor*
Affiliation:
Macquarie University, Sydney, Australiaand Government Actuary's Department, London, U.K.
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In recent years, as a result of more concentrated research together with the ravages wrought upon some insurers by inflation, the fundamental significance of the so-called run-off triangle in the calculation of provisions for outstanding claims has been increasingly recognised. The run-off triangle, which is a two-way tabulation—according to year of origin and year of payment—of claims paid to date, has the following form, where Cij is the amount paid by the end of development year j in respect of claims whose year of origin is i, i.e. Cij is the total amount paid in year of origin i and the following j years.

The information relating to the area below this triangle is unknown since it represents the future development of the various cohorts of claims.

Type
Research Article
Information
ASTIN Bulletin: The Journal of the IAA , Volume 9 , Issue 1-2 , January 1977 , pp. 219 - 230
Copyright
Copyright © International Actuarial Association 1977

References

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Verbeek, H. G. (1972). An approach to the analysis of claims experience in motor liability excess of loss reassurance. Astın Bulletin, 6, 195–202.Google Scholar