SynthETIC Claim Simulator

SynthETIC is an individual claims simulator which generates various features of non-life insurance claims. An initial set of test parameters, designed to mirror the experience of an Auto Liability portfolio, were set up and applied by default to generate a realistic test data set of individual claims (see vignette). The simulated data set then allows practitioners to back-test the validity of various reserving models and to prove and/or disprove certain actuarial assumptions made in claims modelling. The distributional assumptions used to generate this data set can be easily modified by users to match their experiences. Reference: Avanzi B, Taylor G, Wang M, Wong B (2020) "SynthETIC: an individual insurance claim simulator with feature control" <arXiv:2008.05693>.

For a full description of SythETIC's structure and test parameters, readers should refer to:

Avanzi, B., Taylor, G., Wang, M., Wong, B., 2021. SynthETIC: An individual insurance claim simulator with feature control. Insurance: Mathematics and Economics 100, 296–308. https://doi.org/10.1016/j.insmatheco.2021.06.004

A free copy is accessible via arXiv:2008.05693.

To cite this package in publications, please use:

citation("SynthETIC")

To install the CRAN version of the package, do

install.packages("SynthETIC")

To install the development version of the package from this GitHub repository, do

if (!require(remotes)) install.packages("remotes")
remotes::install_github("agi-lab/SynthETIC/SynthETIC", build_vignettes = TRUE)

After the installation, run

library(SynthETIC)

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

RShowDoc("SynthETIC-demo", package = "SynthETIC")

• Chain ladder analysis for the test data set
• SynthETIC reference manual (pdf). Alternatively, view it on CRAN or use the help documentation once the package is installed and loaded.