CAS Exam 5 Spring 2015, Question 16

Study guide: Exam 5

The following data reflects an insurance company's recent claims experience:

Reported Claims ($000) as of (months):

Paid Claims ($000) as of (months):

Reported Claim Counts as of (months):

Closed Claim Counts as of (months):

Part a (1 point)

Use two different diagnostics to assess whether any changes have been made to the company's claims department.

Recommend two reserving techniques that are appropriate to estimate unpaid claims in this environment and support each recommendation.