How can you calculate Pure IBNR and IBNER from the IBNR within 5 minutes?

Calculation of IBNER and Pure IBNR This article gives a brief about the different forms of IBNR component and its estimation that we generally come across in the General Insurance industry. Hopefully everyone is already familiar with the other terms of GI before reading this article. It will be useful to familiarize yourself with the following terms before reading this article any further (Ultimate Claims, Reported Claims, Incurred, Accident/Underwriting/Reporting Year Cohort, Chain Ladder Estimate, BF Estimate). Before we get to the estimation, let us first clear our understandings of the various terms. Incurred but not reported (IBNR): For a particular year the actuaries estimate the Ultimate Cost (generally referred as the Ultimate Claims) for all the business that has been written. This ultimate cost can be divided into Incurred Claims (Reported claim amount) and IBNR. IBNR can be further split down to two categories: 1)Incurred but not enough reported (IBNER): This portion of the IB…
Reserving of Insurance Products using Bayesian Statistics: Before reading this article, I am assuming that you should know what Bayesian Statistics is and What its role is in case on insurance industry. Here is the link for both of the article:
Believe me there is no use to read that article if you haven't read above two articles that i mentioned. Okay so in last article I ask about what will be the value of Z in following case: 1. In Case of Chain Ladder Method: Z = 1 because we calculate our projected ultimate claim amount just on the basis of data mentioned in our triangle. So, we are relying 100% on the available data we have.
2. In Case of Expected Loss Ratio Method: Z = 0 because we are relying on Loss Ratios and earned premium to calculate our projected ultimate claim amount as our…