plot.BootChainLadder {ChainLadder}R Documentation

Plot method for a BootChainLadder object

Description

plot.BootChainLadder, a method to plot the output of BootChainLadder. It is designed to give a quick overview of a BootChainLadder object and to check the model assumptions.

Usage

## S3 method for class 'BootChainLadder'
plot(x, mfrow=NULL, title=NULL, log=FALSE, 
    which=1:4, ...)

Arguments

x

output from BootChainLadder

mfrow

see par

title

see title

log

logical. If TRUE the y-axes of the 'latest incremental actual vs. simulated' plot will be on a log-scale

which

if a subset of the plots is required, specify a subset of the numbers 1:4.

...

optional arguments. See plot.default for more details.

Details

plot.BootChainLadder shows four graphs, starting with a histogram of the total simulated IBNRs over all origin periods, including a rug plot; a plot of the empirical cumulative distribution of the total IBNRs over all origin periods; a box-whisker plot of simulated ultimate claims costs against origin periods; and a box-whisker plot of simulated incremental claims cost for the latest available calendar period against actual incremental claims of the same period. In the last plot the simulated data should follow the same trend as the actual data, otherwise the original data might have some intrinsic trends which are not reflected in the model.

Note

The box-whisker plot of latest actual incremental claims against simulated claims follows is based on ideas from Barnett and Zehnwirth in: Barnett and Zehnwirth. The need for diagnostic assessment of bootstrap predictive models, Insureware technical report. 2007

Author(s)

Markus Gesmann

See Also

See also BootChainLadder

Examples

B <- BootChainLadder(RAA)
plot(B)
plot(B, log=TRUE)

[Package ChainLadder version 0.2.12 Index]