Friedland02.ClmsProcess

Reading: Friedland, J.F., Estimating Unpaid Claims Using Basic Techniques, Casualty Actuarial Society, Third Version, July 2010. The Appendices are excluded.

Chapter 2: The Claims Process

BattleTable

Based on past exams, the main things you need to know (in rough order of importance) are:

• fact A...
• fact B...

reference	part (a)	part (b)	part (c)	part (d)

In Plain English!

• 5 components of the total unpaid claim estimate:

1. Case outstanding
2. Provision for future development on known claims
3. Estimate for reopened claims
4. Provision for claims incurred but not reported
5. Provision for claims in transit (incurred and reported but not recorded)