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“To Some Arbitrary n, and Beyond!”

The Ever-Evolving Role of Simulation Theory in the Insurance Industry

“To Some Arbitrary n, and Beyond!”
Multiple July 23, 2020 Posted in: Blog Posts, General
We were very pleased to be chosen to participate in the Pinnacle U program for 2020. We decided to investigate the ever-evolving role of simulation in insurance, with a focus on the practicality and implementation of the Monte Carlo Simulation (MCS). Our presentation followed a funnel approach starting with the general procedure for any type of simulation. We then narrowed in on theoretical and practical methods and uses of simulations for the insurance industry. Finally, we focused specifically on MCS and a few applications of that particular simulation technique.

The State of Pet Insurance

Pinnacle University

The State of Pet Insurance
Multiple July 15, 2020 Posted in: Blog Posts, General, News
One of the interesting trends during the COVID-19 quarantine was the dramatic increase in pet adoptions. Furry, four-legged family members require financial investment in their daily care. Typically, the costs of food, toys and grooming are well understood by first-time pet owners. Owners may be less aware, however, of veterinary expenses and liability claims that can costs thousands of dollars. They should understand these often unforeseen and potentially costly pet expenses to understand how risk can be mitigated through pet insurance. 
Flexibility in the Process
Multiple July 13, 2020 Posted in: Blog Posts, News

Pinnacle University (Pinnacle U) is a complex program to pull off. Designing, planning and executing an event like Pinnacle U, usually requires a lot of flexibility in the process. This year, however, required a higher level of flexibility than we might have ever expected. Pinnacle U is an immersive, in-person symposium at which students, professionals, panelists and participants meet and spend the day discovering and debating important actuarial issues of the day. 

The Importance of Data Management and Data Quality
Multiple June 09, 2020 Posted in: Blog Posts, Apex Webinar
On the May 2020 Pinnacle APEX Webinar, “The Importance of Data Management and Data Quality,” we addressed a critical business issue:  the costs of poor data, reasons for data management, and ways to improve how data is managed in an organization. The webinar also took a deep dive into methods to address the major challenge of missing data.
September APEX:  Digging Into the Modeling Lifecycle
Multiple October 21, 2019 Posted in: Blog Posts, Apex Webinar, Predictive Analytics
On Pinnacle’s September 2019 APEX webinar, “Digging Into the Modeling Lifecycle,” we discussed the importance of understanding all of the steps involved in the modeling lifecycle—far beyond simple model construction. That includes understanding the business question, anticipating the potential constraints of implementation, and staying ahead of model usage from a change management perspective. Management of those issues are among the most critical contributors to the model’s best chance for success.
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