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Consider the Bornhuetter-Ferguson method and the chain ladder method in the context of development claims in insurance. Apply the two methods to the dataset given
Consider the Bornhuetter-Ferguson method and the chain ladder method in the context of development claims in insurance. Apply the two methods to the dataset given on the spreadsheet in order to find the reserve required in 2019. You should assume that 2014 claims have completely run off in 2019.
you should state the reserve required for both methods and the relevance of any
assumptions you have used in your calculations.
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