Joseph A. Herbers
Roosevelt C. Mosley Jr.
Robert J. Walling III
Gaétan R. Veilleux
Laura A. Maxwell
Radost Roumenova Wenman
We have performed several reference calls for Pinnacle and will do so in the future.
uses predictive analytics to help you better understand how key factors such as
reporting delays, vendors, independent adjusters, attorney involvement, injury
type and claimant characteristics impact your claims process.
Pinnacle helps insurers identify rating plan elements that can be more appropriately priced or added for additional risk segmentation.
Pinnacle can help you optimizing your use of credit-related characteristics to help you develop and maintain a competitive advantage.
uses lifetime customer value analysis to develop a long-term view of customer
value and determine how you can best use this information to make more
profitable long-term decisions.
Pinnacle’s predictive analytics team performs marketing analyses that help you more effectively target profitable new business.
Predictive analytics is a process of analyzing data at its most granular level to help unlock descriptive information to allow you to better segment, price, market and manage the products you write. Once considered just an innovative technique for the insurance industry, predictive analytics is now necessary for the success of personal and commercial insurers of all sizes.
Whether you need to determine how predictive analytics can help your organization or have been using predictive analytic techniques for years, we can develop specific predictive analytic applications or act as advisors to your predictive analytics practice. As recognized leaders in predictive analytics, pricing and underwriting, we have handled over 100 projects during the past ten years for insurers of all sizes, from four of the top 10 property and casualty insurance companies to small insurers. As a result, our nationally-recognized predictive analytics experts can help address your most critical pricing, underwriting, claims and marketing needs.
As part of Pinnacle’s ongoing commitment to knowledge transfer, we offer training so your team can learn how to apply basic and state-of-the-art predictive analytic techniques and develop basic and advanced applications. Our modeling tools are flexible and quick enough to perform applications in real time at your office, and our training walks you through the process to ensure your complete understanding.
Pinnacle provides you with substantial benefits from our predictive analytics solutions, which include:
August APEX Webinar
Authored by Gaétan R. Veilleux.
Risk Analytics, Data and AI: Model Behavior
Best's Review Issues & Answers
Authored by Gaétan R. Veilleux and Radost Roumenova Wenman.
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Pinnacle was approached by a national insurer that wanted to develop a more sophisticated commercial automobile rating program. Their current commercial automobile plan was a traditional rating approach and did not take full advantage of driver, credit scoring or vehicle characteristics and the company felt they could take advantage of a significant opportunity in the market. Pinnacle, through the use of predictive modeling, assisted the carrier in designing a new rating and tiering structure, which included modifications of the rating plan, the introduction of underwriting scoring, and new territory definitions. This new structure allowed the company to have more precise rating, more adequate and yet competitive rates for a broader spectrum of risks.
Pinnacle was approached by a national insurer that wanted to develop a more sophisticated homeowners rating program. Their current homeowners plan was a traditional rating approach and was only based on a few factors, and the company felt they were not taking full advantage of the potential in the homeowners market. Pinnacle, through the use of predictive modeling, assisted the carrier in designing a new rating and tiering structure, which included the introduction of by-peril rating and new territory definitions. This new structure allowed the company to be more precise in rating homeowners, resulting in more adequate and competitive rates for a broader spectrum of risks.
Underwriting & Tiering Analysis
A single state auto insurance writer hired Pinnacle to address its current rating and tiering program. We removed unnecessary underwriting restrictions and more adequately priced risk classes, which allowed the insurer to experience significant, profitable growth.
When we began, the company’s existing tiering design was only based on a few factors, including ones that significantly overlapped with the rating plan. When combined with the underwriting rules, the design was punitive and limited writable business. Through predictive modeling, we helped design a new tiering structure and applied an underwriting scoring approach to eliminate rating plan overlap and remove the overly punitive parts of the plan.
At Pinnacle, we partner with you to explore whatever path it takes to find the answers you need.
July 17, 2022
Farm Bureau Actuarial Conference
July 21, 2022
July APEX Webinar -
Causes of Recent Adverse Development