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Dataset, Reserve Estimation Application, UI (Input dataset) - Coggle…
Dataset
Feature Engineering
Training Set
Validation Set
Machine Learning
Test Set
Evaluation
Model
Reserve Estimation Application
Loss Reserve Application
Claims Wise
Dataset
Features
Claim Date,
Loss Date,
Settlement Date (if applicable),
Claim Status,
Claim Type,
Claim Amount,
Paid Amount,
Event Type,
Event Date,
Estimated Ultimate Losses,
Development Factors,
Historical Paid Losses
Regression Model
Predict
Target
Reserve estimate
Quarterly
Use IBNR Valuation
Expense Reserve Application
Claims Wise
Dataset
Features
Claim Status,
Claim Type,
Claim Amount,
Paid Amount,
Event Type,
Claim Handling Expenses,
Number of Outstanding Claims,
Average Handling Time
Regression Model
Predict
Target
Expense Reserve for the claim
Quarterly
Dataset
Features
Total Outstanding Claims,
Projected Handling,
Aggregated Claim Expenses,
Regression Model
Predict
Target
Expense Reserve
Catastrophe Reserve Application
Quarterly
Dataset
Features
Claim Amount
Paid Amount
Estimated Losses from Catastrophic Events
Recoveries from Reinsurance
Regression Model
Predict
Target
Reserve Estimate
UI
Input dataset
Feature Engineering
Predict
Target