Services

Pricing/Product Management

Pinnacle serves a wide variety of customers, including insurers, regulators, agents and industry associations, with industry-leading expertise for pricing and product management.

We support the insurance industry with sound actuarial advice using the most advanced techniques available anywhere. As pioneers in underwriting and pricing techniques, we apply new methods to analyze loss variables with a much higher degree of accuracy.

As well, we can provide the information and data files necessary to do everything from set up and manage your insurance operation to rate filings.

Whether you’re introducing a new program, modifying an existing program, or dealing with a regulatory matter, our experience in all aspects of property/casualty insurance pricing and product management can drive better decisions and help you achieve your goals. Our customers include insurance companies, state insurance departments, government insurers, industry associations and more.

Pinnacle’s experience in pricing and product management includes sectors such as:

  • Agriculture
  • Commercial automobile
  • Commercial multiple peril/BOP
  • Contractors
  • Homeowners
  • Medical malpractice
  • Non-standard automobile
  • Private passenger automobile
  • Professional liability
  • Reinsurance
  • Small business owners
  • Specialty lines
  • Transportation
  • Umbrella
  • Workers compensation

Publications and Media

Case Studies

Management Consulting
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Management Consulting

Pinnacle was approached by a major regional, predominantly commercial lines insurer to perform a holistic review of the insurer’s overall operations with an emphasis on determining the company’s personal lines strategy. The review included an historic analysis of industry profitability by line of insurance including various risk diversification scenarios. In addition, we performed a review of the company’s organizational structure with particular focus on the company’s marketing and distribution systems. Pinnacle’s recommendations provided a roadmap which would allow the company to grow more profitably, improve retentions, operate more efficiently and assure that the right personnel were in the right places within the organization.

Product Development
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Product Development

Pinnacle was retained to develop a long haul trucking pricing model for risks with more than 100 powered units. Using publicly available information, a model that incorporated elements of both exposure and experience rating was developed that incorporated differences in geographic location, cargo and trailer type, radius of operations, driver characteristics, prior claims experience, prior insurer, self insured retention, driver characteristics and several other elements. The program was implemented and has become an essential part of a very successful 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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