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New Approaches, Old Method: Predicting IBNR with Machine Learning
Multiple September 16, 2021 Posted in: Blog, General, Predictive Analytics

Machine learning is a branch of artificial intelligence (AI) that teaches a computer how to analyze and find hidden patterns in data through the use of algorithms. It’s been called a “revolution,” and from self-driving cars to health care, it has begun to change the way we live our lives. Our Pinnacle University group explored the emerging world of machine learning and how it fits into the insurance industry.

Reptile Theory Leading to More Nuclear Verdicts in the Trucking Industry
Multiple September 15, 2021 Posted in: Blog, General

Nuclear verdicts (verdicts over $10 million) are becoming more common and contribute to significant angst experienced by commercial auto executives, underwriters and claims handlers across the country. A common theme in these matters is how plaintiff attorneys have been successfully employing reptile theory.

4 Ways Insurance Companies Can Help Protect the Planet
Multiple July 20, 2021 Posted in: Blog Posts, General
Few industries will be impacted by the compounding effects of climate change as severely as the insurance industry. Extreme climate-related disasters have increasingly dominated the media. Some recent climate data has indicated that expansive wildfires, hurricanes, extreme flooding and prolonged droughts are negatively affecting more and more people. By taking timely action, the insurance industry can help lead change to combat the growing regularity of catastrophic events.
To Gladly Persevere: Pinnacle University 2021
Multiple May 07, 2021 Posted in: Blog Posts, General, Community Involvement

At least two things came to fruition from the 1960s science fiction TV shows many of us watched as children. First, as the title of this blog suggests, it is now acceptable to split an infinitive (that is, insert an adverb between the word “to” and the verb). Second, although we still don’t have flying cars, it is possible to conduct meetings and converse with people miles away while looking at a screen. This came in quite handy as we planned our 2021 Pinnacle University program.

“To Some Arbitrary n, and Beyond!”

The Ever-Evolving Role of Simulation Theory in the Insurance Industry

“To Some Arbitrary n, and Beyond!”
Multiple July 23, 2020 Posted in: Blog Posts, General
We were very pleased to be chosen to participate in the Pinnacle U program for 2020. We decided to investigate the ever-evolving role of simulation in insurance, with a focus on the practicality and implementation of the Monte Carlo Simulation (MCS). Our presentation followed a funnel approach starting with the general procedure for any type of simulation. We then narrowed in on theoretical and practical methods and uses of simulations for the insurance industry. Finally, we focused specifically on MCS and a few applications of that particular simulation technique.
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