{"id":228,"date":"2020-05-31T17:16:11","date_gmt":"2020-05-31T11:46:11","guid":{"rendered":"https:\/\/theactuarialclub.com\/learn\/?p=228"},"modified":"2020-07-08T22:20:18","modified_gmt":"2020-07-08T16:50:18","slug":"reserving-methods-in-gi","status":"publish","type":"post","link":"https:\/\/theactuarialclub.com\/learn\/actuarial-gi-reserving\/reserving-methods-in-gi\/","title":{"rendered":"Reserving methods in GI"},"content":{"rendered":"\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-28f84493 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:25%\">\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-luminous-vivid-amber-background-color has-background\" href=\"https:\/\/theactuarialclub.com\/learn\/terms\/cumulative-development-factors-cdfs\/\">&lt; Previous<\/a><\/div>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-column ghostkit-d-md-none ghostkit-d-sm-none is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:44.8%\"><\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:25%\">\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-luminous-vivid-amber-background-color has-background\" href=\"https:\/\/theactuarialclub.com\/learn\/actuarial-gi-reserving\/chain-ladder-method-clm\/\">Next &gt;<\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n<p class=\"has-very-dark-gray-color has-text-color has-background\" style=\"background-color:#d4edda\"><em>There are different types of reserving methods for calculation of the liabilities of a General Insurance company. Some of the reserves are required to be stated directly like Unpaid reserves(due but not paid) while some are projected using Run off triangles using different methods<\/em>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Reserving Methods in General Insurance<\/h2>\n\n\n\n<p>There are different methods for loss reserving in general insurance.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><em>Chain Ladder Method<\/em><\/li><li><em>Bornhuetter-Ferguson&nbsp;method<\/em><\/li><li><em>Expected loss ratio method<\/em><\/li><li><em>Average cost per claim or Frequency Severity method<\/em><\/li><\/ul>\n\n\n\n<p>Estimates of the outstanding claims reserves can be made on a <em>case by case basis<\/em>, by using statistical methods which will learn in upcoming exercises, or by using exposure-based reserving.<\/p>\n\n\n\n<p>Statistical methods might be applied to various features of claims that appear stable (and are measurable), eg numbers or amounts.<\/p>\n\n\n\n<p>On a comic sense, this is not how a method is selected!<\/p>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-28f84493 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:15%\"><\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<blockquote class=\"instagram-media\" data-instgrm-permalink=\"https:\/\/www.instagram.com\/p\/CB8mCPqp0eQ\/?utm_source=ig_embed&amp;utm_campaign=loading\" data-instgrm-version=\"12\" style=\" background:#FFF; border:0; border-radius:3px; box-shadow:0 0 1px 0 rgba(0,0,0,0.5),0 1px 10px 0 rgba(0,0,0,0.15); margin: 1px; max-width:540px; min-width:326px; padding:0; width:99.375%; width:-webkit-calc(100% - 2px); width:calc(100% - 2px);\"><div style=\"padding:16px;\"> <a href=\"https:\/\/www.instagram.com\/p\/CB8mCPqp0eQ\/?utm_source=ig_embed&amp;utm_campaign=loading\" style=\" background:#FFFFFF; line-height:0; padding:0 0; text-align:center; text-decoration:none; width:100%;\" target=\"_blank\" rel=\"noopener noreferrer\"> <div style=\" display: flex; flex-direction: row; align-items: center;\"> <div style=\"background-color: #F4F4F4; border-radius: 50%; flex-grow: 0; height: 40px; margin-right: 14px; width: 40px;\"><\/div> <div style=\"display: flex; flex-direction: column; flex-grow: 1; justify-content: center;\"> <div style=\" background-color: #F4F4F4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 100px;\"><\/div> <div style=\" background-color: #F4F4F4; border-radius: 4px; flex-grow: 0; height: 14px; width: 60px;\"><\/div><\/div><\/div><div style=\"padding: 19% 0;\"><\/div> <div style=\"display:block; height:50px; margin:0 auto 12px; width:50px;\"><svg width=\"50px\" height=\"50px\" viewBox=\"0 0 60 60\" version=\"1.1\" xmlns=\"https:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"https:\/\/www.w3.org\/1999\/xlink\"><g stroke=\"none\" stroke-width=\"1\" fill=\"none\" fill-rule=\"evenodd\"><g transform=\"translate(-511.000000, -20.000000)\" fill=\"#000000\"><g><path d=\"M556.869,30.41 C554.814,30.41 553.148,32.076 553.148,34.131 C553.148,36.186 554.814,37.852 556.869,37.852 C558.924,37.852 560.59,36.186 560.59,34.131 C560.59,32.076 558.924,30.41 556.869,30.41 M541,60.657 C535.114,60.657 530.342,55.887 530.342,50 C530.342,44.114 535.114,39.342 541,39.342 C546.887,39.342 551.658,44.114 551.658,50 C551.658,55.887 546.887,60.657 541,60.657 M541,33.886 C532.1,33.886 524.886,41.1 524.886,50 C524.886,58.899 532.1,66.113 541,66.113 C549.9,66.113 557.115,58.899 557.115,50 C557.115,41.1 549.9,33.886 541,33.886 M565.378,62.101 C565.244,65.022 564.756,66.606 564.346,67.663 C563.803,69.06 563.154,70.057 562.106,71.106 C561.058,72.155 560.06,72.803 558.662,73.347 C557.607,73.757 556.021,74.244 553.102,74.378 C549.944,74.521 548.997,74.552 541,74.552 C533.003,74.552 532.056,74.521 528.898,74.378 C525.979,74.244 524.393,73.757 523.338,73.347 C521.94,72.803 520.942,72.155 519.894,71.106 C518.846,70.057 518.197,69.06 517.654,67.663 C517.244,66.606 516.755,65.022 516.623,62.101 C516.479,58.943 516.448,57.996 516.448,50 C516.448,42.003 516.479,41.056 516.623,37.899 C516.755,34.978 517.244,33.391 517.654,32.338 C518.197,30.938 518.846,29.942 519.894,28.894 C520.942,27.846 521.94,27.196 523.338,26.654 C524.393,26.244 525.979,25.756 528.898,25.623 C532.057,25.479 533.004,25.448 541,25.448 C548.997,25.448 549.943,25.479 553.102,25.623 C556.021,25.756 557.607,26.244 558.662,26.654 C560.06,27.196 561.058,27.846 562.106,28.894 C563.154,29.942 563.803,30.938 564.346,32.338 C564.756,33.391 565.244,34.978 565.378,37.899 C565.522,41.056 565.552,42.003 565.552,50 C565.552,57.996 565.522,58.943 565.378,62.101 M570.82,37.631 C570.674,34.438 570.167,32.258 569.425,30.349 C568.659,28.377 567.633,26.702 565.965,25.035 C564.297,23.368 562.623,22.342 560.652,21.575 C558.743,20.834 556.562,20.326 553.369,20.18 C550.169,20.033 549.148,20 541,20 C532.853,20 531.831,20.033 528.631,20.18 C525.438,20.326 523.257,20.834 521.349,21.575 C519.376,22.342 517.703,23.368 516.035,25.035 C514.368,26.702 513.342,28.377 512.574,30.349 C511.834,32.258 511.326,34.438 511.181,37.631 C511.035,40.831 511,41.851 511,50 C511,58.147 511.035,59.17 511.181,62.369 C511.326,65.562 511.834,67.743 512.574,69.651 C513.342,71.625 514.368,73.296 516.035,74.965 C517.703,76.634 519.376,77.658 521.349,78.425 C523.257,79.167 525.438,79.673 528.631,79.82 C531.831,79.965 532.853,80.001 541,80.001 C549.148,80.001 550.169,79.965 553.369,79.82 C556.562,79.673 558.743,79.167 560.652,78.425 C562.623,77.658 564.297,76.634 565.965,74.965 C567.633,73.296 568.659,71.625 569.425,69.651 C570.167,67.743 570.674,65.562 570.82,62.369 C570.966,59.17 571,58.147 571,50 C571,41.851 570.966,40.831 570.82,37.631\"><\/path><\/g><\/g><\/g><\/svg><\/div><div style=\"padding-top: 8px;\"> <div style=\" color:#3897f0; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:550; line-height:18px;\"> View this post on Instagram<\/div><\/div><div style=\"padding: 12.5% 0;\"><\/div> <div style=\"display: flex; flex-direction: row; margin-bottom: 14px; align-items: center;\"><div> <div style=\"background-color: #F4F4F4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(0px) translateY(7px);\"><\/div> <div style=\"background-color: #F4F4F4; height: 12.5px; transform: rotate(-45deg) translateX(3px) translateY(1px); width: 12.5px; flex-grow: 0; margin-right: 14px; margin-left: 2px;\"><\/div> <div style=\"background-color: #F4F4F4; border-radius: 50%; height: 12.5px; width: 12.5px; transform: translateX(9px) translateY(-18px);\"><\/div><\/div><div style=\"margin-left: 8px;\"> <div style=\" background-color: #F4F4F4; border-radius: 50%; flex-grow: 0; height: 20px; width: 20px;\"><\/div> <div style=\" width: 0; height: 0; border-top: 2px solid transparent; border-left: 6px solid #f4f4f4; border-bottom: 2px solid transparent; transform: translateX(16px) translateY(-4px) rotate(30deg)\"><\/div><\/div><div style=\"margin-left: auto;\"> <div style=\" width: 0px; border-top: 8px solid #F4F4F4; border-right: 8px solid transparent; transform: translateY(16px);\"><\/div> <div style=\" background-color: #F4F4F4; flex-grow: 0; height: 12px; width: 16px; transform: translateY(-4px);\"><\/div> <div style=\" width: 0; height: 0; border-top: 8px solid #F4F4F4; border-left: 8px solid transparent; transform: translateY(-4px) translateX(8px);\"><\/div><\/div><\/div> <div style=\"display: flex; flex-direction: column; flex-grow: 1; justify-content: center; margin-bottom: 24px;\"> <div style=\" background-color: #F4F4F4; border-radius: 4px; flex-grow: 0; height: 14px; margin-bottom: 6px; width: 224px;\"><\/div> <div style=\" background-color: #F4F4F4; border-radius: 4px; flex-grow: 0; height: 14px; width: 144px;\"><\/div><\/div><\/a><p style=\" color:#c9c8cd; font-family:Arial,sans-serif; font-size:14px; line-height:17px; margin-bottom:0; margin-top:8px; overflow:hidden; padding:8px 0 7px; text-align:center; text-overflow:ellipsis; white-space:nowrap;\"><a href=\"https:\/\/www.instagram.com\/p\/CB8mCPqp0eQ\/?utm_source=ig_embed&amp;utm_campaign=loading\" style=\" color:#c9c8cd; font-family:Arial,sans-serif; font-size:14px; font-style:normal; font-weight:normal; line-height:17px; text-decoration:none;\" target=\"_blank\" rel=\"noopener noreferrer\">A post shared by The Actuarial Club (@theactuarialclub)<\/a> on <time style=\" font-family:Arial,sans-serif; font-size:14px; line-height:17px;\" datetime=\"2020-06-27T17:23:39+00:00\">Jun 27, 2020 at 10:23am PDT<\/time><\/p><\/div><\/blockquote> <script async=\"\" src=\"\/\/www.instagram.com\/embed.js\"><\/script>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:15%\"><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\">Working for Reserving Methods<\/h3>\n\n\n\n<p>We already have gone through these steps but let&#8217;s revise them once and where we stand at. <\/p>\n\n\n\n<ol class=\"wp-block-list\" type=\"1\"><li>Compile claims data in a development triangle<\/li><li>Calculate age-to-age factors<\/li><li>Calculate averages of the age-to-age factors<\/li><li>Select claim development factors<\/li><li>Select tail factor<\/li><li>Calculate cumulative claim development factors<\/li><li>Project ultimate claims<\/li><\/ol>\n\n\n\n<p class=\"has-very-dark-gray-color has-text-color has-background\" style=\"background-color:#d4edda\"><em>Most of the statistical methods work from tabulations of claims that have been recently settled. Assumptions are made about the stability of claim development, and that past patterns will continue into the future.<\/em><\/p>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">Questions Related to Reserving Methods<\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\"><strong class=\"schema-faq-question\"><strong>What are the methods used in IBNR reserving?<\/strong><\/strong> <p class=\"schema-faq-answer\"><br\/><em>Chain Ladder Method<\/em><br\/><em>Bornhuetter-Ferguson\u00a0method<\/em><br\/><em>Expected loss ratio method<\/em><br\/><em>Average cost per claim or Frequency Severity method<\/em><br\/><br\/><\/p> <\/div> <div class=\"schema-faq-section\"><strong class=\"schema-faq-question\"><\/strong> <p class=\"schema-faq-answer\"><\/p> <\/div> <\/div>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-28f84493 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:25%\">\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-luminous-vivid-amber-background-color has-background\" href=\"https:\/\/theactuarialclub.com\/learn\/terms\/cumulative-development-factors-cdfs\/\">&lt; Previous<\/a><\/div>\n<\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-column ghostkit-d-md-none ghostkit-d-sm-none is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:50%\"><\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:25%\">\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-luminous-vivid-amber-background-color has-background\" href=\"https:\/\/theactuarialclub.com\/learn\/actuarial-gi-reserving\/chain-ladder-method-clm\/\">Next &gt;<\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>There are different types of reserving methods for calculation of the liabilities of a General Insurance company. Some of the reserves are required to be stated directly like Unpaid reserves(due but not paid) while some are projected using Run off triangles using different methods. Reserving Methods in General Insurance There are different methods for loss [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[16],"tags":[],"class_list":["post-228","post","type-post","status-publish","format-standard","hentry","category-actuarial-gi-reserving"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Reserving methods in GI &#8226; TAC Actuarial Learning<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/theactuarialclub.com\/learn\/actuarial-gi-reserving\/reserving-methods-in-gi\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Reserving methods in GI\" \/>\n<meta property=\"og:description\" content=\"There are different types of reserving methods for calculation of the liabilities of a General Insurance company. Some of the reserves are required to be stated directly like Unpaid reserves(due but not paid) while some are projected using Run off triangles using different methods. Reserving Methods in General Insurance There are different methods for loss [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/theactuarialclub.com\/learn\/actuarial-gi-reserving\/reserving-methods-in-gi\/\" \/>\n<meta property=\"og:site_name\" content=\"TAC Actuarial Learning\" \/>\n<meta property=\"article:author\" content=\"http:\/\/www.facebook.com\/maygoyal\" \/>\n<meta property=\"article:published_time\" content=\"2020-05-31T11:46:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-07-08T16:50:18+00:00\" \/>\n<meta name=\"author\" content=\"Mayank Goyal FIA\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@may_mgtl\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mayank Goyal FIA\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/theactuarialclub.com\\\/learn\\\/actuarial-gi-reserving\\\/reserving-methods-in-gi\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/theactuarialclub.com\\\/learn\\\/actuarial-gi-reserving\\\/reserving-methods-in-gi\\\/\"},\"author\":{\"name\":\"Mayank Goyal FIA\",\"@id\":\"https:\\\/\\\/theactuarialclub.com\\\/learn\\\/#\\\/schema\\\/person\\\/b648b855bd3a04dca7fb005fb3d604f4\"},\"headline\":\"Reserving methods in GI\",\"datePublished\":\"2020-05-31T11:46:11+00:00\",\"dateModified\":\"2020-07-08T16:50:18+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/theactuarialclub.com\\\/learn\\\/actuarial-gi-reserving\\\/reserving-methods-in-gi\\\/\"},\"wordCount\":285,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/theactuarialclub.com\\\/learn\\\/#organization\"},\"articleSection\":[\"Actuarial GI Reserving\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/theactuarialclub.com\\\/learn\\\/actuarial-gi-reserving\\\/reserving-methods-in-gi\\\/#respond\"]}]},{\"@type\":[\"WebPage\",\"FAQPage\"],\"@id\":\"https:\\\/\\\/theactuarialclub.com\\\/learn\\\/actuarial-gi-reserving\\\/reserving-methods-in-gi\\\/\",\"url\":\"https:\\\/\\\/theactuarialclub.com\\\/learn\\\/actuarial-gi-reserving\\\/reserving-methods-in-gi\\\/\",\"name\":\"Reserving methods in GI &#8226; TAC Actuarial Learning\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/theactuarialclub.com\\\/learn\\\/#website\"},\"datePublished\":\"2020-05-31T11:46:11+00:00\",\"dateModified\":\"2020-07-08T16:50:18+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/theactuarialclub.com\\\/learn\\\/actuarial-gi-reserving\\\/reserving-methods-in-gi\\\/#breadcrumb\"},\"mainEntity\":[{\"@id\":\"https:\\\/\\\/theactuarialclub.com\\\/learn\\\/actuarial-gi-reserving\\\/reserving-methods-in-gi\\\/#faq-question-1590913039950\"}],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/theactuarialclub.com\\\/learn\\\/actuarial-gi-reserving\\\/reserving-methods-in-gi\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/theactuarialclub.com\\\/learn\\\/actuarial-gi-reserving\\\/reserving-methods-in-gi\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/theactuarialclub.com\\\/learn\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Actuarial GI Reserving\",\"item\":\"https:\\\/\\\/theactuarialclub.com\\\/learn\\\/category\\\/actuarial-gi-reserving\\\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Reserving methods in GI\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/theactuarialclub.com\\\/learn\\\/#website\",\"url\":\"https:\\\/\\\/theactuarialclub.com\\\/learn\\\/\",\"name\":\"TAC Actuarial Learning\",\"description\":\"Where we define everything an Actuary should know\",\"publisher\":{\"@id\":\"https:\\\/\\\/theactuarialclub.com\\\/learn\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/theactuarialclub.com\\\/learn\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/theactuarialclub.com\\\/learn\\\/#organization\",\"name\":\"TAC\",\"url\":\"https:\\\/\\\/theactuarialclub.com\\\/learn\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/theactuarialclub.com\\\/learn\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/theactuarialclub.com\\\/learn\\\/wp-content\\\/uploads\\\/sites\\\/6\\\/2020\\\/06\\\/2tac-gold-rect-1200-630.jpg\",\"contentUrl\":\"https:\\\/\\\/theactuarialclub.com\\\/learn\\\/wp-content\\\/uploads\\\/sites\\\/6\\\/2020\\\/06\\\/2tac-gold-rect-1200-630.jpg\",\"width\":1200,\"height\":630,\"caption\":\"TAC\"},\"image\":{\"@id\":\"https:\\\/\\\/theactuarialclub.com\\\/learn\\\/#\\\/schema\\\/logo\\\/image\\\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/theactuarialclub.com\\\/learn\\\/#\\\/schema\\\/person\\\/b648b855bd3a04dca7fb005fb3d604f4\",\"name\":\"Mayank Goyal FIA\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/cbd3b6e3d8a402975b519d8c3160a56924b5d46edb37e247d0c0a141f7a0079a?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/cbd3b6e3d8a402975b519d8c3160a56924b5d46edb37e247d0c0a141f7a0079a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/cbd3b6e3d8a402975b519d8c3160a56924b5d46edb37e247d0c0a141f7a0079a?s=96&d=mm&r=g\",\"caption\":\"Mayank Goyal FIA\"},\"description\":\"Redmond Lover(Microsoft), London Dreamer(Actuary), California Thinker(Entrepreneur). Actuarial Science, Blogger, Web Developing, Winphan India, App development, Social Media Managing, Event Managing &amp; bla bla bla.\",\"sameAs\":[\"http:\\\/\\\/www.insurology.in\",\"http:\\\/\\\/www.facebook.com\\\/maygoyal\",\"https:\\\/\\\/www.instagram.com\\\/maygoyal\\\/\",\"https:\\\/\\\/www.linkedin.com\\\/in\\\/mayank-goyal\\\/\",\"https:\\\/\\\/x.com\\\/may_mgtl\"],\"url\":\"https:\\\/\\\/theactuarialclub.com\\\/learn\\\/author\\\/mayankgoyal\\\/\"},{\"@type\":\"Question\",\"@id\":\"https:\\\/\\\/theactuarialclub.com\\\/learn\\\/actuarial-gi-reserving\\\/reserving-methods-in-gi\\\/#faq-question-1590913039950\",\"position\":1,\"url\":\"https:\\\/\\\/theactuarialclub.com\\\/learn\\\/actuarial-gi-reserving\\\/reserving-methods-in-gi\\\/#faq-question-1590913039950\",\"name\":\"What are the methods used in IBNR reserving?\",\"answerCount\":1,\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"<br\\\/><em>Chain Ladder Method<\\\/em><br\\\/><em>Bornhuetter-Ferguson\u00a0method<\\\/em><br\\\/><em>Expected loss ratio method<\\\/em><br\\\/><em>Average cost per claim or Frequency Severity method<\\\/em><br\\\/><br\\\/>\",\"inLanguage\":\"en-US\"},\"inLanguage\":\"en-US\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Reserving methods in GI &#8226; TAC Actuarial Learning","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/theactuarialclub.com\/learn\/actuarial-gi-reserving\/reserving-methods-in-gi\/","og_locale":"en_US","og_type":"article","og_title":"Reserving methods in GI","og_description":"There are different types of reserving methods for calculation of the liabilities of a General Insurance company. Some of the reserves are required to be stated directly like Unpaid reserves(due but not paid) while some are projected using Run off triangles using different methods. Reserving Methods in General Insurance There are different methods for loss [&hellip;]","og_url":"https:\/\/theactuarialclub.com\/learn\/actuarial-gi-reserving\/reserving-methods-in-gi\/","og_site_name":"TAC Actuarial Learning","article_author":"http:\/\/www.facebook.com\/maygoyal","article_published_time":"2020-05-31T11:46:11+00:00","article_modified_time":"2020-07-08T16:50:18+00:00","author":"Mayank Goyal FIA","twitter_card":"summary_large_image","twitter_creator":"@may_mgtl","twitter_misc":{"Written by":"Mayank Goyal FIA","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/theactuarialclub.com\/learn\/actuarial-gi-reserving\/reserving-methods-in-gi\/#article","isPartOf":{"@id":"https:\/\/theactuarialclub.com\/learn\/actuarial-gi-reserving\/reserving-methods-in-gi\/"},"author":{"name":"Mayank Goyal FIA","@id":"https:\/\/theactuarialclub.com\/learn\/#\/schema\/person\/b648b855bd3a04dca7fb005fb3d604f4"},"headline":"Reserving methods in GI","datePublished":"2020-05-31T11:46:11+00:00","dateModified":"2020-07-08T16:50:18+00:00","mainEntityOfPage":{"@id":"https:\/\/theactuarialclub.com\/learn\/actuarial-gi-reserving\/reserving-methods-in-gi\/"},"wordCount":285,"commentCount":0,"publisher":{"@id":"https:\/\/theactuarialclub.com\/learn\/#organization"},"articleSection":["Actuarial GI Reserving"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/theactuarialclub.com\/learn\/actuarial-gi-reserving\/reserving-methods-in-gi\/#respond"]}]},{"@type":["WebPage","FAQPage"],"@id":"https:\/\/theactuarialclub.com\/learn\/actuarial-gi-reserving\/reserving-methods-in-gi\/","url":"https:\/\/theactuarialclub.com\/learn\/actuarial-gi-reserving\/reserving-methods-in-gi\/","name":"Reserving methods in GI &#8226; TAC Actuarial Learning","isPartOf":{"@id":"https:\/\/theactuarialclub.com\/learn\/#website"},"datePublished":"2020-05-31T11:46:11+00:00","dateModified":"2020-07-08T16:50:18+00:00","breadcrumb":{"@id":"https:\/\/theactuarialclub.com\/learn\/actuarial-gi-reserving\/reserving-methods-in-gi\/#breadcrumb"},"mainEntity":[{"@id":"https:\/\/theactuarialclub.com\/learn\/actuarial-gi-reserving\/reserving-methods-in-gi\/#faq-question-1590913039950"}],"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/theactuarialclub.com\/learn\/actuarial-gi-reserving\/reserving-methods-in-gi\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/theactuarialclub.com\/learn\/actuarial-gi-reserving\/reserving-methods-in-gi\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/theactuarialclub.com\/learn\/"},{"@type":"ListItem","position":2,"name":"Actuarial GI Reserving","item":"https:\/\/theactuarialclub.com\/learn\/category\/actuarial-gi-reserving\/"},{"@type":"ListItem","position":3,"name":"Reserving methods in GI"}]},{"@type":"WebSite","@id":"https:\/\/theactuarialclub.com\/learn\/#website","url":"https:\/\/theactuarialclub.com\/learn\/","name":"TAC Actuarial Learning","description":"Where we define everything an Actuary should know","publisher":{"@id":"https:\/\/theactuarialclub.com\/learn\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/theactuarialclub.com\/learn\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/theactuarialclub.com\/learn\/#organization","name":"TAC","url":"https:\/\/theactuarialclub.com\/learn\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/theactuarialclub.com\/learn\/#\/schema\/logo\/image\/","url":"https:\/\/theactuarialclub.com\/learn\/wp-content\/uploads\/sites\/6\/2020\/06\/2tac-gold-rect-1200-630.jpg","contentUrl":"https:\/\/theactuarialclub.com\/learn\/wp-content\/uploads\/sites\/6\/2020\/06\/2tac-gold-rect-1200-630.jpg","width":1200,"height":630,"caption":"TAC"},"image":{"@id":"https:\/\/theactuarialclub.com\/learn\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/theactuarialclub.com\/learn\/#\/schema\/person\/b648b855bd3a04dca7fb005fb3d604f4","name":"Mayank Goyal FIA","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/cbd3b6e3d8a402975b519d8c3160a56924b5d46edb37e247d0c0a141f7a0079a?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/cbd3b6e3d8a402975b519d8c3160a56924b5d46edb37e247d0c0a141f7a0079a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/cbd3b6e3d8a402975b519d8c3160a56924b5d46edb37e247d0c0a141f7a0079a?s=96&d=mm&r=g","caption":"Mayank Goyal FIA"},"description":"Redmond Lover(Microsoft), London Dreamer(Actuary), California Thinker(Entrepreneur). Actuarial Science, Blogger, Web Developing, Winphan India, App development, Social Media Managing, Event Managing &amp; bla bla bla.","sameAs":["http:\/\/www.insurology.in","http:\/\/www.facebook.com\/maygoyal","https:\/\/www.instagram.com\/maygoyal\/","https:\/\/www.linkedin.com\/in\/mayank-goyal\/","https:\/\/x.com\/may_mgtl"],"url":"https:\/\/theactuarialclub.com\/learn\/author\/mayankgoyal\/"},{"@type":"Question","@id":"https:\/\/theactuarialclub.com\/learn\/actuarial-gi-reserving\/reserving-methods-in-gi\/#faq-question-1590913039950","position":1,"url":"https:\/\/theactuarialclub.com\/learn\/actuarial-gi-reserving\/reserving-methods-in-gi\/#faq-question-1590913039950","name":"What are the methods used in IBNR reserving?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"<br\/><em>Chain Ladder Method<\/em><br\/><em>Bornhuetter-Ferguson\u00a0method<\/em><br\/><em>Expected loss ratio method<\/em><br\/><em>Average cost per claim or Frequency Severity method<\/em><br\/><br\/>","inLanguage":"en-US"},"inLanguage":"en-US"}]}},"acf":[],"_links":{"self":[{"href":"https:\/\/theactuarialclub.com\/learn\/wp-json\/wp\/v2\/posts\/228","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/theactuarialclub.com\/learn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/theactuarialclub.com\/learn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/theactuarialclub.com\/learn\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/theactuarialclub.com\/learn\/wp-json\/wp\/v2\/comments?post=228"}],"version-history":[{"count":13,"href":"https:\/\/theactuarialclub.com\/learn\/wp-json\/wp\/v2\/posts\/228\/revisions"}],"predecessor-version":[{"id":750,"href":"https:\/\/theactuarialclub.com\/learn\/wp-json\/wp\/v2\/posts\/228\/revisions\/750"}],"wp:attachment":[{"href":"https:\/\/theactuarialclub.com\/learn\/wp-json\/wp\/v2\/media?parent=228"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/theactuarialclub.com\/learn\/wp-json\/wp\/v2\/categories?post=228"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/theactuarialclub.com\/learn\/wp-json\/wp\/v2\/tags?post=228"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}