Modeling/Actuarial

Keeping Pace & Setting the Rate: Looking ahead to the role of the new pricing actuary

Apr 28, 2021 / by AAIS posted in Insurtech, Data, AAIS Pulse, Data/Tech, Modeling/Actuarial, Data Management, Lewis & Ellis

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The AAIS Pulse newsmagazine recently featured AAIS Chief Pricing Actuary Mike Payne and Somil Jain, VP & Consulting Actuary at Lewis & Ellis Actuaries and Consultants, spotlighting forces reshaping the role of pricing actuaries.

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Tracking CATs and Taming Risk

Jan 7, 2021 / by AAIS posted in Community, Technology, Issues & Trends, Data & Technology, Insurance News/Current Events, New/Emerging Risks, P&C Insurers, Data, AAIS Insights, AAIS Pulse, Underwriting, Modeling/Actuarial, Risk, Analytics Insurance

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In August 2020, AAIS introduced its new Risk Awareness Service (RAS), a digital resource center tracking catastrophic risk and providing risk information in real time. At the inaugural AAIS Pulse Newsmagazine, AAIS VP Data and Actuarial Services Phil LeGrone described the Risk Awareness Service, its goals, and the value it can provide insurance carriers and the customers they serve. He also welcomed Jeff Waters, a Senior Product Manager at Risk Management Solutions (RMS), the leading modeling firms, to add his perspective on emerging modeling approaches and tools.

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Fighting Fire with Data: How Public Fire Protection Can Save Lives

Jun 13, 2020 / by Phil LeGrone posted in Community, Technology, Issues & Trends, Data & Technology, Homeowners, Modeling/Predictive Analytics, Fire, Data/Tech, Underwriting, Modeling/Actuarial, National Science Foundation, Homeowner By-Peril, NFIRS

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With more than $22 billion in losses recorded annually, fire insurance is burning a hole in the insurance industry’s proverbial pocket. Having used the same approach to assessing public fire protection (PFP) risk for the past 30 years, insurers have failed to evaluate the impact it has on overall loss cost.

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