Meyers-Shi finalisations and chain ladder serial correlations.
Mentor: Jun Ma, Macquarie University
Intern: Jing Xu, Macquarie University
Industry Partner: Greg Taylor, Taylor Fry Pty Ltd
Project Duration: September 2012 to February 2013
Taylor Fry is leading independent consultancy firm that offers analytics, actuarial, statistical and policy advice to business and government.
The research conducted relates to the much publicised data set compiled by author Meyers and Shi available on the Casualty Actuarial Society website. The data contains triangles of paid claims and incurred claims, and also triangles of counts of reported claims and finalised claims respectively. The project assessed the extent to which the use of the count triangles improves prediction error in loss reserving.