Forum Discussion
Claim Frequency & Claim Forecasting
Hi Team, Im preparing the Claims Forecasting for 2020. I have 4 Tables(Sales, Claims, Product & Calendar). In Sales Table (Contract Number, Contract Start Date, Contract End Date) In Claims ...
Hi. As much as I understand, your most granular level on which you calculate forecasts is month. If you want to have an estimate for a year, isn't it just enough to add up all the forecasts for all the year's months?
Best
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Best
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Anonymous : Im trying to forecast on Mothly basis of 2020.
Ex : If Claim Frequency of Jan'19 is 10% and Active Police of Jan'20 is 10000, then Forecast of Jan'20 should be 1000.
- Yeah, I know how you calculate a forecast based on the PY period. But I have not got an answer to my question: Why can't you just sum all the forecasts for all the months of 2020? If you know the percentage for each month of 2019, then it's easy to do this:
sum over all i = 1,2,...,12 (all months of 2019):
claim_freq(i) * active_policies(i+1year)
Why can't you use it?
Best
DHi,
I am using this measure now
1.Claim Frequency LY = Calculate([Claim Frequency], SAMEPERIODLASTYEAR(Calendar[Date])
2. Forecast = [Total Active Policies]*[Claim Frequency LY]
In Visual im filtering only Year 2020 and Month wise breakup.