Home Forums Property & Casualty Annual to Daily Claims Frequency

Viewing 5 posts - 1 through 5 (of 5 total)
• Author
Posts
• #3253
Gaurav Shah
Participant

Hi, I have a problem at hand.
I want to convert annual frequency of motor claims into a daily frequency.
So, let’s say I receive 40 claims from a exposure of 100 cars in a year. How do I convert this into a daily claim count.
I am assuming a poisson distribution to estimate daily claim count but in all the scenarios that i am trying to generate, all the 40 claims are received in the first half of the year which is not correct.

Can anyone help me on this?

#7352
Sherwin
Participant

Isn’t it 0.0011 claims per car day? That’s 40/100/365.

#7759
Desire_Young
Participant

sorry, I think your choice has some problems.

annual frequency=0.4 and you may make a straightforward transformation. so the daily frequency lamda=0.4/365.

and you can calculate it. given any day, the frequency of no claim is exp(-0.4/365).

and it’s just a binomial distribution, if you want to see some claims at the second half.

at the upper half year, there is a 182 days and making a simplified assumtion that there is no more one claim at any day.

it’s a combinatorial calculation. From 182 days, you chose 39 day that reported a claim and there are 143 no claim days.

the combinatorial part is infinity.

#9457
Jhon Martin
Participant

How do you generate a daily claim count when you have an annual frequency of motor claims?

#9999
Ike Finnell
Participant

It is tough for me to spend money on myself since I have a family and a child. I can’t spend on myself, although I also have specific needs. It’s just challenging to allocate money for my own needs when I know that my daughter constantly needs new things as she grows by leaps and bounds. I even found additional earnings by earning free nft games that pay instantly to Paypal, which significantly improved our financial situation. I don’t know, it’s probably something psychological, because of which I can’t afford to buy something for myself. I have absolutely the same situation so that I will wait for answers from intelligent people together with you

Viewing 5 posts - 1 through 5 (of 5 total)
• You must be logged in to reply to this topic.