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We introduceSPLICE (SyntheticPaidLoss andIncurredCostExperience), an extension to the individual claim simulator calledSynthETIC.SPLICE serves to simulate the evolution of case estimates of incurred losses through the lifetime of a claim, under a flexible modelling framework which resembles that ofSynthETIC.

An initial set of test parameters, designed to mirror the experience of a real insurance portfolio, were set up and applied by default to generate a realistic test data set of incurred histories (see vignette). However, the distributional assumptions used to generate this data set can be easily modified by users to match their experiences.

For a full description ofSPLICE's structure and test parameters, readers should refer to:

Avanzi, B., Taylor, G., Wang, M., 2023.SPLICE: A Synthetic Paid Loss and Incurred Cost Experience Simulator.Annals of Actuarial Science 17(1), 7–35.https://doi.org/10.1017/S1748499522000057

A free copy is accessible viaarXiv:2109.04058.

To cite this package in publications, please use:

citation("SPLICE")

To install theCRAN version of the package, do

install.packages("SPLICE")

To install the development version of the package from this GitHub repository, do

if (!require(remotes)) install.packages("remotes")remotes::install_github("agi-lab/SPLICE/SPLICE", build_vignettes = TRUE)

After the installation, run

library(SPLICE)

as you would normally do will load the package. View a full demonstration of the package (which is used to generate the built-in test datasets discussed in the paper) by running

vignette("SPLICE-demo", package = "SPLICE")

• Chain ladder analysis for the test data set
• Example datasets