claimdata {cascsim}

Sample Claim Data

Description

A dataset containing about 10,000 simulated claim records from 2012 to 2016 for illustration. The variables are as follows:

Usage

data(claimdata)

Format

A data frame with 10030 rows and 15 variables

Details

• ClaimID. Claim ID

• LoB. Line of Business (Auto, Liab, Property)

• Type. Claim Type (N: Normal, H: High)

• status. Current Claim Status (Closed, Open)

• occurrenceDate. Claim Occurrence Date

• reportDate. Claim Report Date

• incurredLoss. Incurred Loss. For closed claim, it is the ultimate loss. For open claim, it is the estimated or booked loss.

• osRatio. Outstanding Ratio

• settlementDate. Claim Settlement Date.

• Paid. Paid Loss by the valuation date. It equals incurredLoss * (1-osRatio)

• totalLoss. Total loss before deductible and limit. If not available, it will be set as incurredLoss and not used for fitting.

• Deductible. Deductible applied to the claim.

• Limit. Limit applied to the claim.

• LAE. Loss adjustment expense at the claim level. It can be omitted if idemnity and LAE are modeled together as incurred loss.

• claimLiability. Indicating whether the claim is invalid and leads to zero payment. It excludes valid claims that are smaller than deductibles.