Services

Insurers

Pinnacle understands the unique requirements of insurers and the challenging business and market environments they operate in. To meet these challenges and chart a path to success, you need a strategic partner that can focus on actuarial issues such as pricing and reserving while also keeping you apprised of the latest innovations in rating and underwriting.

Whether you need to develop an enterprise risk management program, help in identifying best practices for your industry or expert insight and analysis for a wide range of projects, our team of experts are focused on doing whatever it takes to exceed your expectations, time and time again. Pinnacle has helped dozens of insurers with projects from state-of-the-art rating plans to underwriting scorecards, from more refined rating territories to by-peril rating for homeowners. We have deep experience in both personal and commercial lines and have worked with small, medium and large insurers. We also do special projects in a variety of areas such as retention studies, mergers/acquisitions, deciding whether to enter or withdraw from certain lines, and filing assistance.

We also perform analysis of the amount of risk transfer in companies reinsurance contracts necessary for documenting the risk transfer file. As well, we routinely perform second opinions on the indicated unpaid claim liabilities for companies that may have concerns about the reasonableness of the loss and loss expense reserve projections by their current Appointed Actuary.

Our industry knowledge includes:

  • Commercial Auto
  • Commercial Multiple Peril
  • Commercial Property
  • General and Products Liability
  • Homeowners
  • Medical Professional Liability
  • Non-Medical Professional Liability (e.g., Lawyers, Accountants, Architects)
  • Personal Auto
  • Specialty coverages
  • Pollution
  • TRIA
  • Workers Compensation

Publications and Media

October 2018 APEX Webinar
Status of Cyber Liability Insurance and Methodology
Authored by Laura A. Maxwell and Radost Wenman.

MPL Industry: Questions and Answers
Captive Review
Authored by Timothy C. Mosler.

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Case Studies

Claims
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Claims

Pinnacle was approached by a regional insurer that wanted to develop a predictive model that estimated the time that a claim would be open based on what is known at the first notice of loss. The company felt like this would allow them to more effectively manage their caseload and handle claims more proactively. Pinnacle, through the use of predictive modeling, assisted the carrier in designing a model which predicted cycle time based on the FNOL. Not only did this give the company a better understanding of its claims, but also assisted them in understanding their claims data better and improving their data collection.

Product Management
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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.

Rate Indications / Filings
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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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