Actuarial technique restating historical claims as if they had occurred under current price and exposure conditions.
As-if restating involves recalculating historical claims by updating them to current cost, exchange rate, exposure or coverage conditions. In pricing, this means applying a claims inflation trend to past data to make different accident years comparable. In reinsurance, it allows simulation of what the claimed cost would have been under the current program if historical losses had occurred today, with current limits and retentions. As-if restating is essential for calculating a representative burning cost from historical experience subject to inflation or portfolio structure changes. Without restating, older data systematically underestimates current costs.
2019 motor claim paid 18,000 EUR, claims inflation trend +6%/year. 2024 as-if value: 18,000 × 1.06^5 ≈ 24,100 EUR, amount used in current burning cost calculation.
as-if, as if adjustment, retraitement as-if, restating, normalisation sinistres