Legaré W. Gresham
Timothy C. Mosler
Michael K. Chen
Terrence D. Wright
Arthur R. Randolph II
Joseph A. Herbers
Gary C. Wang
John E. Wade
Linda K. Brobeck
Derek W. Freihaut
Aaron N. Hillebrandt
Thomas R. Kolde
Laura A. Maxwell
Roosevelt C. Mosley Jr.
Robert J. Walling III
Christopher M. Holt
The best thing about working with Pinnacle is their flexibility and their willingness to provide additional explanations or data quickly without having to redefine the contract.
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 has experience working with model output from all the major catastrophe modelers for hurricane, other wind, earthquake and fire, and making recommendations for rating plans, territory boundaries, catastrophe loads, rate filings, and reinsurance/risk financing structures.
Pinnacle helps insurers identify rating plan elements that can be more appropriately priced or added for additional risk segmentation.
Pinnacle has a powerful set of competitive analysis tools
that provide in-depth market analyses and enable comparison of premiums, rating factors and tiering plans, often with mapping and batch rating capabilities.
Pinnacle has strong experience identifying loss exposures and recognizing that differences exist between businesses. Upon classifying the various exposures, we can help establish a proper structure to minimize losses.
Pinnacle serves a wide variety of customers, including insurers, regulators, agents and industry associations, with industry-leading expertise for pricing and product management.
We support the insurance industry with sound actuarial advice using the most advanced techniques available anywhere. As pioneers in underwriting and pricing techniques, we apply new methods to analyze loss variables with a much higher degree of accuracy.
As well, we can provide the information and data files necessary to do everything from set up and manage your insurance operation to rate filings.
Whether you’re introducing a new program, modifying an existing program, or dealing with a regulatory matter, our experience in all aspects of property/casualty insurance pricing and product management can drive better decisions and help you achieve your goals. Our customers include insurance companies, state insurance departments, government insurers, industry associations and more.
Pinnacle’s experience in pricing and product management includes sectors such as:
October 26 2017 APEX Webinar
Current Actuarial Issues in Captive Insurance
Authored by Derek W. Freihaut and Robert J. Walling III.
September 28 2017 APEX Webinar
State of the UBI Market
Authored by Gary C. Wang and Michael K. Chen.
See More »
Pinnacle was approached by a national insurer that wanted to develop a more sophisticated commercial automobile rating program. Their current commercial automobile plan was a traditional rating approach and did not take full advantage of driver, credit scoring or vehicle characteristics and the company felt they could take advantage of a significant opportunity in the market. Pinnacle, through the use of predictive modeling, assisted the carrier in designing a new rating and tiering structure, which included modifications of the rating plan, the introduction of underwriting scoring, and new territory definitions. This new structure allowed the company to have more precise rating, more adequate and yet competitive rates for a broader spectrum of risks.
Rate Filing Review
Pinnacle typically provides state regulators expert review of company and bureau rate change filings. In a recent review of a Company’s automobile rate filing Pinnacle was able to confirm that the filed rates met the State’s rating laws and Department’s filing requirements. Using a procedure developed by Pinnacle specifically to review rate filings, the Company filing was reviewed against generally accepted actuarial principles. The Company was questioned on certain rating procedures and was able to support their procedures and selections with additional documentation to the filing. Pinnacle was then able to affirm to the Regulator that the filed rates were not excessive, inadequate, nor unfairly discriminatory and that the new rates would not produce any major policyholder dislocations. The Regulator was then able to acknowledge the Company’s filing with confidence that the Regulator had carried out his charge of providing service and protection both to consumers and to the insurance industry.
Pinnacle was approached by a major national personal lines insurer to develop a vehicle rating program to replace the use of the ISO symbol product. Pinnacle, through the use of predictive modeling, assisted the carrier in designing a new vehicle rating program which made use of the vehicle’s actual physical characteristics for both the liability and physical damage coverages. The data used for the analysis was the company’s VIN data supplemented with industry VIN data and appended for vehicle characteristics from an external third party vendor. The resultant program completely eliminated the need for use of the ISO symbol and exhibited greater predictive power than the prior ISO based system.
At Pinnacle, we partner with you to explore whatever path it takes to find the answers you need.
November 27, 2018
Florida Chamber’s Annual Insurance Summit
November 27, 2018
Cayman Captive Forum