output_incurred {SPLICE}

Incurred Triangles

Description

Outputs the full square of claims incurred by occurrence period and development period. The upper left triangle represents the past, and the lower right triangle the unseen future.

Users can modify the aggregate level by providing an aggregate_level argument to the function. For example, setting aggregate_level = 4 when working with calendar quarters produces an incurred square by occurrence and development year.

We refer to the package vignette for examples on changing the aggregation granularity: vignette("SPLICE-demo", package = "SPLICE")

Usage

output_incurred(
  incurred_history,
  aggregate_level = 1,
  incremental = TRUE,
  future = TRUE
)

Arguments

incurred_history

the full history of incurred case estimates, see claim_history.

aggregate_level

number of periods to be aggregated together; must be a divisor of the total number of periods under consideration (default 1).

incremental

logical; if true returns the incremental incurred square, else returns the cumulative incurred square.

future

logical; if true (default) shows the full claim triangle (i.e. including claim payments in future periods), else shows only the past triangle.

Details

Remark on out-of-bound transaction times: This function includes adjustment for out-of-bound transaction dates, by forcing any transactions that were projected to fall out of the maximum development period to be counted as if they were made at the end of the limiting development period. For example, if we consider 40 periods of development and a claim of the 21st occurrence period was projected to have a major revision at time 62.498210, then we would treat such a revision as if it occurred at time 60 for the purpose of tabulation.

Value

An array of claims incurred to date.