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The chain-ladder or development [1] method is a prominent [2] [3] actuarial loss reserving technique. The chain-ladder method is used in both the property and casualty [1] [4] and health insurance [5] fields. Its intent is to estimate incurred but not reported claims and project ultimate loss amounts. [5]
The area of a triangle can be demonstrated, for example by means of the congruence of triangles, as half of the area of a parallelogram that has the same base length and height. A graphic derivation of the formula T = h 2 b {\displaystyle T={\frac {h}{2}}b} that avoids the usual procedure of doubling the area of the triangle and then halving it.
In mathematics, the Pythagorean theorem or Pythagoras' theorem is a fundamental relation in Euclidean geometry between the three sides of a right triangle.It states that the area of the square whose side is the hypotenuse (the side opposite the right angle) is equal to the sum of the areas of the squares on the other two sides.
For larger scales the sum of the angles of a triangle is not equal to 180°. Geometry is one of the oldest branches of mathematics. It started with empirical recipes concerning shapes, such as lines, angles and circles, which were developed mainly for the needs of surveying and architecture, but has since blossomed out into many other subfields ...
The area formula for a triangle can be proven by cutting two copies of the triangle into pieces and rearranging them into a rectangle. In the Euclidean plane, area is defined by comparison with a square of side length , which has area 1. There are several ways to calculate the area of an arbitrary triangle.
Any triangle subdivides its bounding box into the triangle itself and additional right triangles, and the areas of both the bounding box and the right triangles are easy to compute. Combining these area computations gives Pick's formula for triangles, and combining triangles gives Pick's formula for arbitrary polygons. [7] [8] [13]
Actuarial notation is a shorthand method to allow actuaries to record mathematical formulas that deal with interest rates and life tables. Traditional notation uses a halo system, where symbols are placed as superscript or subscript before or after the main letter. Example notation using the halo system can be seen below.
Fig. 1 – A triangle. The angles α (or A), β (or B), and γ (or C) are respectively opposite the sides a, b, and c. In trigonometry, the law of cosines (also known as the cosine formula or cosine rule) relates the lengths of the sides of a triangle to the cosine of one of its angles.