Gaétan R. Veilleux
Timothy C. Mosler
Joseph A. Herbers
Robert J. Walling III
Erich A. Brandt
Arthur R. Randolph II
Nicholas E. Alicea
Radost Roumenova Wenman
Ken J. Hawkins
Roosevelt C. Mosley Jr.
Christopher J. Schubert
Aaron N. Hillebrandt
Derek W. Freihaut
Laura A. Maxwell
Erick E. Mortenson
Linda K. Brobeck
Pinnacle continues to do a great job for the IAT Group. They are always readily available and very responsive to our needs.
Pinnacle’s consultants have provided both testimony and expert reports in a wide variety of administrative hearings, lawsuits, arbitrations and other proceedings.
Pinnacle has consultants who are experienced as expert witnesses in arbitrations and also ARIAS-certified arbitrators.
Pinnacle consultants deal with auditors daily, assisting them in serving their customers and evaluating the work products of other actuaries.
Pinnacle strives to construct benchmarks for any analysis, whether ratemaking, loss reserving or some other use, as close as possible to replicating the nature of the underlying data being reviewed.
Pinnacle can assist you in controlling your property
catastrophe exposure by determining the impact of policy changes, including
deductibles, or reviewing geographic areas where exposures are driving your
Pinnacle understands the unique requirements of insurers and the challenging business and market environments they operate in. To meet these challenges and chart a path to success, you need a strategic partner that can focus on actuarial issues such as pricing and reserving while also keeping you apprised of the latest innovations in rating and underwriting.
Whether you need to develop an enterprise risk management program, help in identifying best practices for your industry or expert insight and analysis for a wide range of projects, our team of experts are focused on doing whatever it takes to exceed your expectations, time and time again. Pinnacle has helped dozens of insurers with projects from state-of-the-art rating plans to underwriting scorecards, from more refined rating territories to by-peril rating for homeowners. We have deep experience in both personal and commercial lines and have worked with small, medium and large insurers. We also do special projects in a variety of areas such as retention studies, mergers/acquisitions, deciding whether to enter or withdraw from certain lines, and filing assistance.
We also perform analysis of the amount of risk transfer in companies reinsurance contracts necessary for documenting the risk transfer file. As well, we routinely perform second opinions on the indicated unpaid claim liabilities for companies that may have concerns about the reasonableness of the loss and loss expense reserve projections by their current Appointed Actuary.
Our industry knowledge includes:
December 3 2020 APEX Webinar
So You Want to Be An Innovative Actuary
Authored by Kendra Letang and Robert J. Walling III.
August 2020 APEX Webinar
Flood Insurance – Past, Present and Future
Authored by Linda K. Brobeck.
See More »
Pinnacle was approached by a regional insurer that wanted to develop a predictive model that estimated the time that a claim would be open based on what is known at the first notice of loss. The company felt like this would allow them to more effectively manage their caseload and handle claims more proactively. Pinnacle, through the use of predictive modeling, assisted the carrier in designing a model which predicted cycle time based on the FNOL. Not only did this give the company a better understanding of its claims, but also assisted them in understanding their claims data better and improving their data collection.
Pinnacle was approached by a national insurer that wanted to develop a more sophisticated homeowners rating program. Their current homeowners plan was a traditional rating approach and was only based on a few factors, and the company felt they were not taking full advantage of the potential in the homeowners market. Pinnacle, through the use of predictive modeling, assisted the carrier in designing a new rating and tiering structure, which included the introduction of by-peril rating and new territory definitions. This new structure allowed the company to be more precise in rating homeowners, resulting in more adequate and competitive rates for a broader spectrum of risks.
Underwriting & Tiering Analysis
A single state auto insurance writer hired Pinnacle to address its current rating and tiering program. We removed unnecessary underwriting restrictions and more adequately priced risk classes, which allowed the insurer to experience significant, profitable growth.
When we began, the company’s existing tiering design was only based on a few factors, including ones that significantly overlapped with the rating plan. When combined with the underwriting rules, the design was punitive and limited writable business. Through predictive modeling, we helped design a new tiering structure and applied an underwriting scoring approach to eliminate rating plan overlap and remove the overly punitive parts of the plan.
At Pinnacle, we partner with you to explore whatever path it takes to find the answers you need.
February 18, 2021
February APEX Webinar -
Predictor Selection in a Multi-Dimensional World