FCAS, MAAA, CSPA
Senior Consulting Actuary

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Gary C. Wang

Gary Wang is a Senior Consulting Actuary with Pinnacle Actuarial Resources, Inc. in the Bloomington, Illinois office. He holds a Bachelor of Science degree in mathematics from the University of Illinois and a Master of Science degree in mathematics education from Northern Illinois University. He also has extensive graduate level coursework in Theoretical and Applied Mathematics from Northern Illinois University. He has over seventeen years of actuarial experience in the property/casualty insurance industry.

Mr. Wang currently serves the CAS as a member of the Ratemaking and Product Management Planning Committee and the Examination Committee. Mr. Wang is a SAS® Certified Predictive Modeler Using SAS® Enterprise Miner™ 5.

Before joining Pinnacle, Mr. Wang was employed as a pricing actuary for three of the top ten insurance companies. His pricing experience includes standard homeowners rate indications, commercial auto rate indications, and reinsurance treaty pricing for both personal and commercial lines. In addition, he has experience in reserving analyses for commercial auto and market trend analyses for commercial auto and workers compensation.

At Pinnacle, Mr. Wang has worked extensively on the application of advanced statistical modeling techniques to the insurance process. His experience in predictive analytics applications include rating and underwriting plan design, homeowners by-peril analysis, auto vehicle characteristics analysis and scorecard development, and territory boundary development. Mr. Wang has made numerous presentations on topics relating to predictive modeling, ratemaking, and insurance credit-based scoring.

Publications and Media

September 28 2017 APEX Webinar
State of the UBI Market
Authored by Gary C. Wang and Michael K. Chen.

December 15, 2016 APEX Discussion Series
Autonomous Vehicles and Their Impact on the Insurance Space
Authored by Gary C. Wang and Michael K. Chen.

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Case Studies

Catastrophic Risks

Catastrophic Risks

Pinnacle was retained by an insurance company specializing in catastrophic risk to identify and test alternative sources of risk financing capacity including traditional reinsurance and catastrophe bonds. In order to complete the project, Pinnacle designed a dynamic financial model to determine the cost/benefit of alternate risk financing strategies.

Low Cost Auto

Low Cost Auto

Pinnacle was retained by an industry trade organization to provide an independent review of the proposed costing of a new private passenger auto insurance program for low income insureds. The project included working in an open session with legislators and public members to arrive at a workable rate and classification plan for the new program.

Retention Analysis

Retention Analysis

Pinnacle was asked by a large self-insured regional transportation authority to assess the impact of increasing their self-insured retentions for both workers compensation and automobile liability. We developed a stochastic simulation analysis, based on the program’s historical claims experience and industry benchmarks, that examined not only the increase in expected losses but the program’s additional potential loss variability. Finally, we discussed with the customer the relationship between their current capital position, as well as the current reinsurance market, to ensure the retention they selected for their program was appropriate for them. The authority ultimately increased their retentions, put some of their excess capital to work, and realized substantial savings in their reinsurance costs.

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