Hi, Can someone confirm to me the methods below and their types? - chain ladder (statistical method) - expected loss ratio (exposure method?) - bornfuetter-ferguson (credibiltiy method) - Average cost/claim (statistical method?) Thanks!
Yes that's right. You can find a full description of each method in Chapter 15 of the Course Notes. Strictly speaking, the BF Method is an exposure-based statistical method as it is a credibility weighted average of the chain ladder and expected loss ratio methods.
