lossrunAnalyzer - Analyzing Insurance Claims Data

The goal of lossrunAnalyzer is to assist actuaries to quickly analyze, diagnose, and summarize lossruns containing individual claims data for property casualty insurance.

Badges

Installation

You can install lossrunAnalyzer from GitHub with:

# install.packages("devtools")
devtools::install_github("jimbrig2011/lossrunAnalyzer")

Roadmap

The end-goal of lossrunAnalyzer is to provide support for the following:

• Initial Reasonability Checks:

  • Unique claim ID
  • Paid + Case = Incurred
  • Totals = Sum of Splits
  • Report Date >= Loss Date
  • Field Consistency (i.e. States, Status, etc.)

• Possible Duplicate Detection

• Occurrence Grouping

• Adding “Working” Fields

  • Retentions / Limits / Deductibles
  • Various “Limited” Amounts
  • ALAE Treatments
  • Years (Policy, Accident, Report, Fiscal, Calendar)
  • Lags (Report, Close, Tenure)
  • Max IBNR’s at various scenarios
  • Legal, Lost-Time, Indemnity Support

• Utilizing Lookup / Support Tables

• Record Linkage to Reduce Fuzzyness

• Merging Lossruns Across Multiple Evaluations

• Comparing Lossruns to Prior’s and Addressing Various KPI’s / Diagnostic Checks

• Anomaly / Outlier Detection

• Automating Development Comments as to why things changed

• Summarizing Data into Triangles

• Performing an AvE (Actual vs. Expected) Analysis Summary

• Checking for Dropped / Missing Claims or New Claims with Old Dates

• Tie Out to Exposures