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September APEX:  Digging Into the Modeling Lifecycle
Multiple October 21, 2019 Posted in: Blog Posts, Apex Webinar, Predictive Analytics
On Pinnacle’s September 2019 APEX webinar, “Digging Into the Modeling Lifecycle,” we discussed the importance of understanding all of the steps involved in the modeling lifecycle—far beyond simple model construction. That includes understanding the business question, anticipating the potential constraints of implementation, and staying ahead of model usage from a change management perspective. Management of those issues are among the most critical contributors to the model’s best chance for success.
Update: California Workers Compensation System Loss Costs Fall
Multiple September 09, 2019 Posted in: Blog Posts, News, Workers’ Compensation

Pinnacle Actuarial Resources is dedicated to keeping our clients up-to-date on relevant regulatory, administrative and economic conditions that impact their businesses. Recently, the Workers Compensation Insurance Rating Bureau (WCIRB) of California issued guidance regarding lower-than-anticipated workers compensation (WC) system loss costs. On September 5, the insurance commissioner of California approved all of the WCIRB’s proposed changes. The most current pure premium WCIRB filing, dated August 20, 2019 recommended a 5.4% decrease in average advisory loss costs, effective January 1, 2020.

Tags:
Gambling & Insurance
Multiple July 25, 2019 Posted in: Blog Posts, General
The worlds of gambling and insurance are similar in many ways. Both are built upon elements of probability, modeling and quantification of risk. Both use a variety of means to attract individuals to participate. Professional gamblers are well informed as to the odds of one play versus another; an understanding of modelling can improve those odds to improve the chances of winning. Professional underwriters and actuaries understand premiums must be adequate to pay future claims and expenses; an understanding of modelling helps quantify risk and improve the ratemaking process.
On-Demand Insurance

The on-demand culture has been rapidly growing over the past decade. Groceries, car rides and dinners can all be purchased and promptly delivered with the touch of a button and insurance is catching up. At the 2019 Pinnacle U event, we presented on the topic of on-demand insurance and what its future may hold. We partnered with Noah Sierer, an Illinois State University student, to provide examples of current insurers and the market’s potential.

Risk Goes to College

How Do Universities Insure Themselves?

Risk Goes to College
Multiple June 13, 2019 Posted in: Blog Posts, Captives, ERM
Pinnacle University is an annual event hosted by Pinnacle Actuarial Resources, Inc., where analysts and actuarial science students from various universities collaborate to research and present on a relevant topic in the insurance industry. This year, our group explored how universities obtain insurance.
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