Description
CORP. * Crum & Forster is a leading national property & casualty insurance company with a large, diversified specialty platform. Associate Actuary / Special (Large) Accounts (SA) Actuarial Pricing Manager - Commercial Lines Lead Pricing Actuary for Commercial Lines Large Account Division. Pricing Accounts Priced Primary prospective covers for all accounts individually, and, as needed, Umbrella, Excess and FAC layers. Simulation techniques were utilized as required. * Reviewed company reserves using Confidence Intervals in accordance with Theory (Likelihood) of Ruin as a component to emerging Enterprise Risk Management (ERM) and Economic Capital Market exercises. * Saved 9% in loss reserves changed direction of company's business plans by finding coding errors in the claims system, clearing up misunderstandings as to how deductible reserves work. Model Development and Training * Created, updated and enhanced Price Monitor Database to properly track performance of business. * Repaired, updated and enhanced the Pricing Calculation Model errors were corrected, new techniques added and interfaces built to connect Pricing Model to Price Monitor. * Trained Underwriters and Actuaries to set strong pricing standards. Communication with Underwriters and Senior Management * Partnered with Underwriters to develop profitable opportunities and niches in Large Account market Returned business to profitability while maintaining revenue following substantial losses. Large Accounts Division Combined Ratio decreased from 150% to under 90% in three years. Analyzed components of Commercial Lines Pricing Model on a Book basis which was developed from the Price Monitor data base to set parameters for the prospective year. * Worked closely with underwriters and actuaries to correct poor or inappropriate use of modeled results. Recommended Expected Loss and Combined Ratios used in Reserving and Planning. * Brought together different professional disciplines to ensure administrative policies were consistent for all. * Partnered with Reserve Actuaries to review results compared to expected targets. INC. Stamford CT 1997 to 1999
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