I've noticed a few skills, such as Ice Shot and Lightning Arrow with the text "Chills/Shocks enemies as though dealing X% more damage". I'm not really sure what this means, most likely because I have no idea how status ailments work in Path of Exile. I've tried searching online, but all the results I found so far just discuss whether this effect is additive or multiplicative, which isn't exactly helpful when I don't understand what these abilities mean to begin with.
What do these effects mean?