thanks very much for your quick response.
The steps I'm taking now is as follows and please let me know where I've gone wrong:-
1. Assume that youngest year is half as developed as y1 factor. So divide CDF of 4.55 by 2 = 2.28
2. Then assuming that claim development is uniform between development years. I take the average of 4.55 and 2.11 which gives me 3.33. (4.55 and 2.11 are the CDFs for years 1 and 2respectively). I do the same for the remaining CDFs
3. Then develop incurred claims to ultimate and determine the % developed
However, I still can't seem to get the correct % developed by following the above approach and any insights would really be helpful
Thanks in advance for your help!
Last edited by a moderator: Feb 27, 2024