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Pinnacle’s consultants have provided both testimony and expert reports in a wide variety of administrative hearings, lawsuits, arbitrations and other proceedings.
Pinnacle helps alternative market risk owners, captive managers and service providers determine risk retentions that optimize the balance between the cost of risk transfer and loss volatility.
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 actuaries have real world experience
addressing issues related to allocating capital for pricing and associated profitability
Pinnacle’s team of highly qualified actuaries has experience in all areas of capital modeling, ranging from regulatory perspectives and rating agency models to models reflecting individual company risk and reward preferences.
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 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.
uses predictive analytics to help you better understand how key factors such as
reporting delays, vendors, independent adjusters, attorney involvement, injury
type and claimant characteristics impact your claims process.
Pinnacle helps insurers identify rating plan elements that can be more appropriately priced or added for additional risk segmentation.
Pinnacle has compiled relevant databases for use as
the basis for legislative costing analyses and other studies.
Pinnacle provides loss reserve analyses and other
diagnostics in support of collateral negotiations associated with deductible
and/or self-insured retentions.
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 provides special interest seminars for
attorneys that include loss reserving, ratemaking and valuation to explain key
issues and best practices.
Pinnacle is experienced developing cost allocation mechanisms
by member or department in the most equitable manner using elements such as –
exposure, geographic cost differences and actual loss experience.
Pinnacle can help you optimizing your use of credit-related characteristics to help you develop and maintain a competitive advantage.
Pinnacle has experience working with large datasets
and creating models to assess damages and develop scenario outcomes.
Pinnacle sees a lot of data in a lot of different formats. We efficiently and effectively handle non-traditional data formats, conversion of text-based and hardcopy reports, data cleansing, and advanced conversions and summarization of data.
Pinnacle’s consultants are experienced in helping
lawyers ask the right questions and understanding the answers in depositions of
other actuarial expert witnesses.
Pinnacle actuaries have been leaders in Dynamic Financial Analysis and other forms of stochastic financial modeling for over 15 years.
Assessing the reasonableness of indicated loss and loss adjustment expense reserves after the analysis is completed is an essential element of the loss reserve analysis. In particular, measures such as loss ratios, changes since the prior evaluation, implied claim frequencies and severities and costs per unit of exposure are a few of the diagnostic tests employed when considering the reasonableness of indicated reserves.
Management sometimes wishes to reflect the time value of money in funding projections, accruals for unpaid claims liabilities and other valuations. The two most important parameters for doing so are the assumed interest rate and the underlying claim payment pattern. Assessing reasonable values for these parameters is not trivial as the interest rate may need an adjustment for risk while the claim payment pattern may not be readily available.
Pinnacle has extensive experience helping insurers, captives, and self-insurance programs determine appropriate dividend levels and actuarial sound allocation methods.
can help insurers, captive and other self-insurance programs evaluate and
benchmark insurance program expenses, including fronting fees, captive
management costs, commissions, other acquisition and general expenses, taxes,
and loss adjustment expenses.
Pinnacle consultants have experience in providing
expert witness testimony in federal, state and county courts, in arbitrations
and before state legislatures.
Pinnacle provides costing and impact analysis of
proposed legislative changes and also provides written and oral testimony in
support of our analyses.
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 provides actuarial expertise to financial examinations on behalf of auditors and state insurance departments. Both external peer review and independent loss evaluations are available.
Pinnacle helps customers evaluate historical loss experience by breaking it down into two components–claim counts and average claim severities. This can identify historical trends and areas for improvement.
Pinnacle’s team of experienced experts can provide
expertise to help craft and quantify the impact of solutions for issues
affecting the insurance market in today’s rapidly changing environment.
Pinnacle has a variety of methods to estimate indicated funding levels and unpaid claims liabilities at higher levels of statistical confidence.
Since Pinnacle’s consultants have career backgrounds ranging from large to small insurers, regulatory authorities and statistical organizations, we deliver a complete perspective to each assignment.
Pinnacle has experience not only determining the cost
of potential legislative changes, but also assessing their impact on affected
segments and stakeholders.
Pinnacle excels in providing expected changes in
insurance costs due to proposed legislation on behalf of state insurance
regulators, state legislative committees, insurance trade organizations, and
state associations of physicians, hospitals and trial lawyers.
uses lifetime customer value analysis to develop a long-term view of customer
value and determine how you can best use this information to make more
profitable long-term decisions.
Pinnacle has extensive experience assisting in insurance company liquidations and rehabilitations. This experience enables us to handle unusual loss exposures and financial examinations to deliver actuarially-sound and authoritative estimates of insurer reserves and other liabilities. We also apply our expertise and experience for:
Pinnacle develops loss fund projections to determine expected future
losses, relying on past claims experience.
Pinnacle represents the interests of both buyers and sellers of blocks of business providing independent evaluations of a program’s indicated unpaid claims liabilities often reflecting provisions for the time value of money (i.e., discounting) and uncertainty (risk margins).
helps a wide variety of customers establish a reasonable accrual for unpaid
loss and loss adjustment expense obligations.
Pinnacle has the special skills and knowledge to
understand the unique nature of various reinsurance treaty types and their
potential impact on loss reserve estimates.
Pinnacle’s expertise can help you understand the
issues surrounding latent mass torts and project loss reserves for these
difficult and uncertain exposures.
Pinnacle’s consultants have the special skills and
knowledge required to evaluate unpaid claims obligations related to reinsurance
Pinnacle’s approach to each loss reserve analysis is customized to the unique characteristics of each program, such as lines of coverage, geographic mix, number of claims, per occurrence limits and other factors.
Pinnacle’s predictive analytics team performs marketing analyses that help you more effectively target profitable new business.
Pinnacle is experienced at comparing and contrasting
coverage and pricing differences for many commercial and personal lines policy
forms, including specialty products.
Pinnacle helps customers preparing databases for predictive analytics techniques and other future needs. Many of these studies also involve the use of external databases.
Pinnacle uses price optimization to help you find the
best premium to charge subject to a set of pricing, customer response, and
Pinnacle’s predictive analytics help customers price insurance products using sophisticated risk segmentation to better segment and price your coverage.
Pinnacle provides commutation pricing analyses that often require an actuarial review of the net present value of the outstanding losses to the treaty.
Pinnacle provides pro forma financial statements that are often required for new captives and insurers or companies changing as a result of operational changes, mergers, or acquisitions.
Pinnacle can help handle many aspects of product management ranging from profitability estimates to customer response modeling to price optimization. Pinnacle is also well equipped to assist in program coverage changes and developing new leading edge products.
Pinnacle has experience in all stages of program
development—from creating a new, unique
program to program conversion and implementation.
We prepare commercial and personal lines rate and rule
filings for insurers in all U.S. jurisdictions. We also assist several state insurance departments with rate filing
Pinnacle provides rate levels indications that determine
the rate change necessary for insurers to meet their target profit levels. We
also can provide actuarial memoranda documenting the indications and supporting
Pinnacle helps insurance programs establish reasonable
projections of future loss and loss expenses to determine actuarially sound
Pinnacle assists a wide variety of customers
evaluating reinsurance contracts focusing on the relative cost versus coverage
provided and risk/reward trade offs. Our analyses may also focus on risk
Information coming soon.
Pinnacle’s consultants can help you realize your
strategic objectives by helping you optimize your reinsurance program.
Pinnacle has developed and reviewed both experience
and exposure-based reinsurance pricing models for a wide variety of property
and casualty lines. We have also provided staffing to reinsurers during renewal
Pinnacle is well qualified to assist in reinsurance
underwriting audits due to our experience as company actuaries and product
The reinsurance underwriting submission is one of the primary means of communicating to reinsurers the unique qualities of your company. Pinnacle’s consultants are more than actuaries. Our experience as reinsurance underwriters and product managers will provide valuable insight on best representing your firm to potential reinsurance partners.
Pinnacle uses predictive analytics to assist insurers
to compare their premiums with a more detailed expected loss calculation to
develop more effective risk ceding rules.
Pinnacle is experienced helping insurers analyze
differences in retention and conversion differences based on its risk
characteristics, marketplace competitiveness, marketing channels and historical
Pinnacle has experience evaluating the actual results
after legislative changes are implemented to determine how the actual results
compare to the initially anticipated effect.
Pinnacle actuaries are experts in identifying how risks interact and aggregate and in developing methods for quantifying and mitigating these aggregations.
Pinnacle understands the dynamics behind the risk-reward trade-off and can help you properly evaluate which risks are worth pursuing.
Pinnacle can help you articulate your firm’s risk appetite and devise strategic plans and risk financing techniques that complement your vision.
Pinnacle’s enterprise risk management professionals
can help you understand and assess the risks facing your company or customers.
Pinnacle’s risk management consultants are well versed in helping you differentiate between risks that must be avoided and those that can be controlled.
Pinnacle helps customers evaluate the proper insurance
retentions based on factors, including capitalization, management attitudes,
market conditions, expected costs for excess coverage and several other factors.
Pinnacle provides roll forward projections that forecast claims activity and unpaid claims obligations a few months or more into the future based on current data.
Pinnacle has extensive experience evaluating captive managers, third party administrators and other service providers. These benchmarking exercises can assess claim reporting and settlement patterns, average case reserves, closed, report or ultimate claims severities for all claims or a specific claim type (e.g., lost time workers compensation claims) or a myriad of other metrics
Many of Pinnacle’s consultants are qualified and
approved to provide formal Statement of Actuarial Opinion (SAO) on behalf of
insurance companies, captives, risk retention groups and self-insureds.
Pinnacle has created vehicle classification factors
that replace or supplement existing model year and symbol factors.
Pinnacle helps customers smoothly transition through changing policy management and rating systems, as well as significant changes to insurance programs.
Pinnacle has the expertise and experience to efficiently align the necessary technologies and data platforms to allow our actuarial team to focus on modeling and results.
Pinnacle has sophisticated tools to help customers enhance territory definitions and relativities taking advantage of by-peril data, external information and state-of-the-art predictive analytics.
Pinnacle can help insurers develop state-of-the-art rating
territories by applying territorial clustering and smoothing.
Pinnacle helps to establish a solid foundation within a certain service area, such as predictive analytics, to provide the training and technology implementation that allows your team to apply the same techniques for your organization.
Pinnacle develops trend analyses that evaluate
historical and prospective changes in the value of exposures, premiums, claim
counts and average claim severities.
Pinnacle helps their customers use underwriting applications of predictive analytic that enable analytical reviews of underwriting guidelines, straight through processing strategies, rules-based credit and MVR ordering, and selection/rejection criteria.
Pinnacle helps customer develop tiering plans and underwriting scorecards that incorporate a variety of risk characteristics into a single pricing tool.
Pinnacle can review underwriting guidelines for reasonableness, appropriateness and competitiveness.
Pinnacle uses predictive analytics and developments in
auto data to help you determine more accurate vehicle classifications.
Pinnacle provides “been-there-done-that” perspective that is helpful in preparing witnesses for the unfamiliar and frequently stressful litigation landscape.
At Pinnacle, we partner with you to explore whatever path it takes to find the answers you need.
May 21, 2018
May 24, 2018
May Apex Discussion Series -
Actuarial Considerations for Allocating IBNR Reserves
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Pinnacle is an actuarial firm focused on property/casualty insurance, including alternative markets, captives, self insureds, enterprise risk management, predictive analytics, commercial lines and more. We serve trucking, insurance, health care, medical professional liability, reinsurance, workers compensation, public entities and other companies and concerns.
Our services include expert witness, loss reserving, litigation support, pricing, ratemaking, rate filing, statements of actuarial opinion, feasibility studies, capital modeling and other actuarial services and products.
Phone: (309) 807-2300
Fax: (309) 807-2301
Copyright © 2003 - 2018 Pinnacle Actuarial Resources, Inc.