FCAS, MAAA
Independent Contractor and Consulting Actuary

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LeRoy Boison

LeRoy Boison is a Consulting Actuary with LeRoy A. Boison, Jr., LLC, and has over 40 years of experience in insurance pricing for property/casualty insurance. His areas of focus include predictive analytics, product management, personal lines usage based insurance, expert witness testimony, data management and business intelligence, among others. Mr. Boison was a Principal with Pinnacle and retired from the firm in 2013. He continues his association with Pinnacle, working as an Independent Contractor.

Mr. Boison is a Fellow of the Casualty Actuarial Society and a Member of the American Academy of Actuaries. Mr. Boison is the current Chair of the American Academy of Actuaries (AAA) Automobile Committee. He is the past Vice President – International of the Executive Council of the Casualty Actuarial Society (CAS). He is also the past Chair of the Actuarial Standards Board Casualty Committee, the CAS Ratemaking Committee and the Board of Directors of the Actuarial Education and Research Fund. Mr. Boison is certified by ARIAS (AIDA Reinsurance and Insurance Arbitration Society) as one of some 400+ certified reinsurance arbitrators in the U.S. Prior to joining Pinnacle, Mr. Boison was Senior Vice President at Insurance Services Office, Inc. (ISO), in charge of Actuarial Operations and also the International area.

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Case Studies

Management Consulting

Management Consulting

Pinnacle was approached by a major regional, predominantly commercial lines insurer to perform a holistic review of the insurer’s overall operations with an emphasis on determining the company’s personal lines strategy. The review included an historic analysis of industry profitability by line of insurance including various risk diversification scenarios. In addition, we performed a review of the company’s organizational structure with particular focus on the company’s marketing and distribution systems. Pinnacle’s recommendations provided a roadmap which would allow the company to grow more profitably, improve retentions, operate more efficiently and assure that the right personnel were in the right places within the organization.

Product Management

Product Management

One of our long-standing regional carriers had entered into a new market and asked for Pinnacle’s assistance in bringing their product and processes up-to-date. With Pinnacle’s product, pricing and product management expertise, we were able to provide a wide range of services to our client. Not only did we develop a new rating plan, we also drafted a completely new rate manual and rate pages. Pinnacle also reviewed their Underwriting guidelines and worked with the client to draft new guidelines consistent with the new rating plan and client risk appetite. Pinnacle followed the review through to reviewing system specifications, forms and competitive position and preparing the rate filings. In addition, Pinnacle was able to provide suggestions on customer notifications, agent notifications and ways to track the progress of the new program.

Underwriting & Tiering Analysis

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.
 

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