We introduce SPLICE (Synthetic Paid Loss and Incurred Cost Experience), an extension to the individual claim simulator called SynthETIC. SPLICE serves to simulate the evolution of case estimates of incurred losses through the lifetime of a claim, under a flexible modelling framework which resembles that of SynthETIC.
An initial set of test parameters, designed to mirror the experience of a real insurance portfolio, were set up and applied by default to generate a realistic test data set of incurred histories (see vignette). However, the distributional assumptions used to generate this data set can be easily modified by users to match their experiences.
For a full description of SPLICE's structure and test parameters, readers should refer to:
Avanzi, B., Taylor, G., Wang, M., 2023. SPLICE: A Synthetic Paid Loss and Incurred Cost Experience Simulator. Annals of Actuarial Science 17(1), 7–35. https://doi.org/10.1017/S1748499522000057
A free copy is accessible via arXiv:2109.04058.
To cite this package in publications, please use:
To install the CRAN version of the package, do
install.packages("SPLICE")
To install the development version of the package from this GitHub repository, do
if (!require(remotes)) install.packages("remotes")
remotes::install_github("agi-lab/SPLICE/SPLICE", build_vignettes = TRUE)
After the installation, run
library(SPLICE)
as you would normally do will load the package. View a full demonstration of the package (which is used to generate the built-in test datasets discussed in the paper) by running
vignette("SPLICE-demo", package = "SPLICE")
RetroSearch is an open source project built by @garambo | Open a GitHub Issue
Search and Browse the WWW like it's 1997 | Search results from DuckDuckGo
HTML:
3.2
| Encoding:
UTF-8
| Version:
0.7.4