Home Forums Property & Casualty Annual to Daily Claims Frequency

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  • #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

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