claim_payment_time function

Partial Payment Times (in Continuous Time Scale)

Converts the list of inter-partial delays to a list of payment times in continuous time scale. Set discrete = TRUE to get the payment times in calendar periods.

claim_payment_time(
  frequency_vector,
  occurrence_list,
  notification_list,
  payment_delay_list,
  discrete = FALSE
)

Arguments

• frequency_vector: a vector of claim frequencies for all the periods.
• occurrence_list: list of claim occurrence times.
• notification_list: list of notification delays.
• payment_delay_list: (compound) list of inter partial delays.
• discrete: logical; if TRUE returns integer-valued payment times (default FALSE).

Details

Returns a compound list structure such that the $j$th component of the $i$th sub-list gives the payment time pattern (as a vector) for the $j$th claim of occurrence period $i$.

Note that, as in the case of claim_closure, this function can result in out-of-bound payment dates (i.e. payment times beyond the maximum number of development periods under consideration). In these cases, we retain the original simulated values for the simulation of other quantities, but we will make adjustments for such claims in the tabulation of results in claim_output and the payment inflation function claim_payment_inflation.