Full metadata
Title
Looking at COVID-19 as a Factor in Insurance
Loss Reserving Models
Description
A factor accounting for the COVID-19 pandemic was added to a generalized linear model to more accurately predict unpaid claims. COVID-19 has affected not just healthcare, but all sectors of the economy. Because of this, whether or not an automobile insurance claim is filed during the pandemic needs to be taken into account while estimating unpaid claims. Reserve-estimating functions such as glmReserve from the “ChainLadder” package in the statistical software R were experimented with to produce their own results. Because of their insufficiency, a manual approach to building the model turned out to be the most proficient method. Utilizing the GLM function, a model was built that emulated linear regression with a factor for COVID-19. The effects of such a model are analyzed based on effectiveness and interpretablility. A model such as this would prove useful for future calculations, especially as society is now returning to a “normal” state.
Date Created
2022-05
Contributors
- Kossler, Patrick (Author)
- Zicarelli, John (Thesis director)
- Milovanovic, Jelena (Committee member)
- Barrett, The Honors College (Contributor)
- School of Mathematical and Statistical Sciences (Contributor)
Topical Subject
Resource Type
Copyright Statement
In Copyright
Primary Member of
Peer-reviewed
No
Open Access
No
Series
Academic Year 2021-2022
Handle
https://hdl.handle.net/2286/R.2.N.165134
System Created
- 2022-04-15 09:37:51
System Modified
- 2022-05-25 03:51:42
- 2 years 5 months ago
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