This question states,
We are only given cumulative reported and paid triangles, so the obvious place to start is Paid/Reported. There is an increasing pattern, so you say either speed-up in claim settlement or decreasing case reserves. Even though it's only 1 point, I though you'd have to do more since they said "Fully discuss". Is there further conjecture you can make with the data given, or you do have to have claim count data to determine anything more concrete?
Even though the paid ldf's are increasing at 12-24 and 24-36 months, the paid data looks fairly stable down the columns with the exception that AY 2009 is significantly lower. The case reserves are decreasing at 12 months when AY 2009 is excluded. I said that this did not support speed-up in claim settlement, but I'm thinking you may need to have claim counts available and use averages before you can make that conclusion. Is that right?
http://ift.tt/1CyKf2r
Quote:
Fully discuss whether the data indicates a speed-up in claim closure. |
We are only given cumulative reported and paid triangles, so the obvious place to start is Paid/Reported. There is an increasing pattern, so you say either speed-up in claim settlement or decreasing case reserves. Even though it's only 1 point, I though you'd have to do more since they said "Fully discuss". Is there further conjecture you can make with the data given, or you do have to have claim count data to determine anything more concrete?
Even though the paid ldf's are increasing at 12-24 and 24-36 months, the paid data looks fairly stable down the columns with the exception that AY 2009 is significantly lower. The case reserves are decreasing at 12 months when AY 2009 is excluded. I said that this did not support speed-up in claim settlement, but I'm thinking you may need to have claim counts available and use averages before you can make that conclusion. Is that right?
http://ift.tt/1CyKf2r
2011 #26
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