Actuarial Outpost
 
Go Back   Actuarial Outpost > Actuarial Discussion Forum > Property - Casualty / General Insurance
FlashChat Actuarial Discussion Preliminary Exams CAS/SOA Exams Cyberchat Around the World Suggestions

ACTUARIAL SALARY SURVEYS
Contact DW Simpson for a Personalized Salary Survey

Reply
 
Thread Tools Search this Thread Display Modes
  #1  
Old 11-18-2014, 12:44 AM
beshanGI beshanGI is offline
Non-Actuary
 
Join Date: Oct 2014
Location: Colombo
Studying for InsuranceExamsIndia
College: University of Colombo-Sri Lanka
Posts: 12
Question Ultimate Loss-IBNR

In some IBNR valuation, Actuaries derive their ultimate loss form combination of several reserving methods(chain Ladder, BF, Frequency-severity ). As example : Ultimate Loss= 20%ChainLadder + 50%BF + 30%F-S like this .
So, how we interpret this and what are the reasons for that???

Thanks
Reply With Quote
  #2  
Old 11-18-2014, 09:53 AM
Final Boss's Avatar
Final Boss Final Boss is offline
Member
CAS
 
Join Date: Nov 2012
Posts: 295
Default

The actuary is taking an average of different methods. The idea is similar to that of an ensemble model.
Reply With Quote
  #3  
Old 11-18-2014, 10:52 PM
Sherwin's Avatar
Sherwin Sherwin is offline
Member
CAS SOA
 
Join Date: Jun 2006
Location: China Reinsurer
Posts: 220
Blog Entries: 10
Default

Like kind of credibility-average. You know, we can't give one method 100% credibility.
__________________
To Make the Casualty Actuarial Profession More Internationalized.
Reply With Quote
  #4  
Old 11-18-2014, 11:54 PM
Beach Bum Beach Bum is online now
Member
CAS AAA
 
Join Date: Dec 2005
Location: Currently away from an Ocean
Favorite beer: Alpha King
Posts: 1,984
Default

It's a convoluted way to gain consistency in an approach.
Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off


All times are GMT -4. The time now is 05:14 PM.


Powered by vBulletin®
Copyright ©2000 - 2019, Jelsoft Enterprises Ltd.
*PLEASE NOTE: Posts are not checked for accuracy, and do not
represent the views of the Actuarial Outpost or its sponsors.
Page generated in 0.16514 seconds with 9 queries