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Consulting Actuary

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John E. Wade

John Wade is a Consulting Actuary with Pinnacle Actuarial Resources, Inc., managing the Indianapolis, Indiana office and has been providing actuarial consulting services since 1994, after having been employed by two primary carriers from 1978 - 1994. His practice is concentrated in providing reserving, funding and pricing studies for a wide variety of clients, including insurance companies, trade organizations, public entities and regulators.

His skill set includes loss reserving and rating for most lines of business, liability assessment for various funds, hands-on interaction with regulators, and project management. Mr. Wade is an Associate of the Casualty Actuarial Society and a Member of the American Academy of Actuaries. He serves or has served on the Nominating Committee, the Casualty Loss Reserve Seminar Planning Committee (Vice Chairman 2016-Present), the University Liaison Program, the Committee on Professionalism Education and the Membership Advisory Panel Committee of the Casualty Actuarial Society, as well as the Emerging Issues Task Force of the Casualty Practice Council of the American Academy of Actuaries. Mr. Wade often speaks at industry events. He has actively mentored college actuarial students as well as young actuarial candidates already in the professional work force.

Publications and Media

December 2017 APEX Webinar
Actuarial Standards of Practice Update
Authored by Laura A. Maxwell and John E. Wade.

July 18 2017 APEX Discussion Series
ORSA: Has Anything Changed?
Authored by Laura A. Maxwell and John E. Wade.

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Case Studies

Farmowners Product Development

Farmowners Product Development

Pinnacle was approached by a leading farmowners insurer to review their current farmowners program. Pinnacle conducted a comprehensive review of competitor's manuals to determine if any additional rate factors needed to be included our client’s current program. Based upon our review, Pinnacle made a number of suggestions including incorporating new rate factors and changing their rating algorithm to a scorecard approach that has been successful in many other lines of business. Pinnacle used its expertise in farmowners product development and cutting edge pricing techniques to improve our clients farmowners product.

Rate Filing Review

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.

Rate Indications / Filings

Rate Indications / Filings

A regional carrier came to Pinnacle wanting to implement an insurance score program along with rate indications for home, auto and farm. Pinnacle developed rate indications for each line, and developed an underwriting scorecard rating approach using insurance score as a critical component. The combination of implementing appropriate rates and the new rating plan enabled this company to turn their business around, become profitable and rebuild their surplus position.

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