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Actuarial

Actuarial

Analytics is becoming an increasingly important part of the success of insurance organizations. Actuaries play a vital role as data scientists and can improve profitability through detailed analyses. Whether examining claims, pricing, and reserving, or developing new methods of risk transfer, actuarial analysis can identify significant opportunities for growth. The Actuarial Services practice provides traditional and alternative market property and casualty actuarial analyses across a variety of specialty coverage, exposures and industry sectors. Typical actuarial clients include insurers, reinsurers, captives, Managing General Agents (MGAs), Risk Retention Groups (RRGs) and organizations with self-insured exposures.

Services include:

  • Loss and Loss Adjustment Expense Reserve Reviews
  • Pricing-Rating Analyses
  • Modeling and Program Design
  • Arbitration and Litigation Support
           

SAMPLE ENGAGEMENTS:

Alternative IBNR Study

Habitational Risk MGA with a contingent commission needed an actuary to provide an alternative IBNR study to their carrier in support of the contention that the reserves being set by the carrier were unreasonably high relative to specific policy language.

Setting Reserve Position and Cash Flow Modeling

A self-insured, not-for-profit organization needed an actuarial analysis to help set their reserve position and provide cash flow modeling for fiscal year budgetary planning.

 Workers’ Compensation Actuarial Review

Regional workers’ compensation carrier requested an actuarial review of the prospective loss and loss adjustment expense ratio of a proposed new book of business relative to the claims being made as to the book’s expected profitability.