SynthETIC: A Simulator of Synthetic Experience Tracking Insurance Claims

Abstract

In this blog we introduce the individual claim simulator SynthETIC(Avanzi et al. 2020b) (Synthetic Experience Tracking Insurance Claims), recently released on the Comprehensive R Archive Network (CRAN). An associated paper can be found here(Avanzi et al. 2020a). SynthETIC generates various features of non-life insurance claims on an individual claim level, including occurrence, notification, the timing and magnitude of individual partial payments, and closure.