Simon Fields, a valuation actuary for CountOnUs property insurance company is charged with developing loss completion factors for claim counts for the companys flagship Homeowners Insurance plan. He collected paid claims information for last 5 experience years as of year-end 2021.

	Years (t) Since the End of Experience Year
Experience Year	1	2	3	4	5
2017	10,356	10,787	11,454	12,890	13,459
2018	10,878	11,001	11,717	12,060
2019	11,110	11,879	12,114
2020	11,678	11,989
2021	11,770

1. (5 points) Calculate full set of completion factors.

1. (5 points) If back in 2019, the completion factor for claims incurred and paid in 2019 was estimated to equal 84%, by how much will the estimate for total 2019 incurred claims change based on the new completion factors?

Answer rating: 100% (QA)

To calculate the full set of completion factors for the claim counts based on the provided paid clai... View the full answer