Derek W. Freihaut
Legaré W. Gresham
Laura A. Maxwell
Ken J. Hawkins
Radost Roumenova Wenman
Gary C. Wang
Christopher J. Schubert
Joseph A. Herbers
Erich A. Brandt
Nicholas E. Alicea
Roosevelt C. Mosley Jr.
Aaron N. Hillebrandt
Linda K. Brobeck
Arthur R. Randolph II
Robert J. Walling III
Michael K. Chen
Timothy C. Mosler
(Pinnacle) has been greatly beneficial to us particularly in a time when there is pressure in being able to maintain Auto/Property profitability targets.
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:
November 2019 APEX
State of the Florida Homeowners Market
Authored by Derek W. Freihaut.
Devastating Wildfires: Insurers Must Invest in CAT Modeling to Mitigate Increasing Risk
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.
Farmowners Product Development
Pinnacle was approached by a leading farmowners insurer to review their current farmowners program. Pinnacle conducted a comprehensive review of competitor's manuals to determine if any additional rate factors needed to be included our client’s current program. Based upon our review, Pinnacle made a number of suggestions including incorporating new rate factors and changing their rating algorithm to a scorecard approach that has been successful in many other lines of business. Pinnacle used its expertise in farmowners product development and cutting edge pricing techniques to improve our clients farmowners product.
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.
At Pinnacle, we partner with you to explore whatever path it takes to find the answers you need.
April 16, 2020
April Apex Discussion Series -
Cyber Insurance: What’s in Store for Captives