Enjoying Actuarial Results: It’s as Easy as 3.14159265…
Mike Harrington, FCAS, MAAA, Mark Priven, FCAS, MAAA & Stefan Zepernick, ACAS, MAAA
May 15 | 12:00 pm – 1:00 pm EST
The actuarial report may have many numbers and look pretty daunting, but with knowledge of some basic concepts, reading an actuarial report can actually be enjoyable. This session will not only provide attendees with a firm understanding of key actuarial results such as outstanding liabilities and projected funding rates, but also important actuarial concepts including loss development, inflationary trends, claim frequency and severity, reserve discounting, and confidence levels. Current industry trends will also be discussed.
Attendee Takeaways:
- Better understanding of actuarial concepts and results
- Ability to reasonably check the assumptions in the actuarial report
- Ability to use actuarial results to determine appropriate funding levels and claims trends
- Knowledge of current industry trends in various lines of business
Presenters
Mike Harrington, FCAS, MAAA, Mark Priven, FCAS, MAAA & Stefan Zepernick, ACAS, MAAA
Mike is the president of Bickmore Actuarial and has over 25 years of experience in both the insurance industry and consulting, the majority of which is with public entities. He specializes in reserve and rate analysis for public entities and risk pools for all property and casualty coverages and is known for his informative and down-to-earth presentation style, with some good “actuarial humor” thrown in.
Prior to joining Bickmore, for five years Mark was vice president supporting retail brokerage clients at one of the largest international brokerage firms. He provided risk managers and brokers with loss forecasts, reserve studies, cost allocation plans, program comparisons, risk retentions analyses, benchmarking, price negotiations, and assisted in program design and feasibility studies for finite risk, captives, and self-insurance.
As a senior reserving analyst for one of California’s largest insurance companies, Mark was responsible for special studies of $1 billion in workers’ compensation reserves and claims handling costs. He also served as lead actuary supporting captives and franchise/association accounts.
With 10+ years of P&C insurance industry experience working as an actuary, product analyst and underwriter, Stefan has a strong understanding of how to balance actuarial data, business knowledge and market intelligence. He currently oversees seven lines of business for a farm and commercial agriculture insurance company, including commercial auto, commercial property, commercial umbrella, farm property, farm liability, farm umbrella and general liability. He also has prior experience in the pension industry performing actuarial analysis for California’s public employee pension system. Stefan earned his associate actuarial designation in 2016 and he is actively pursuing his Fellowship designation.
Mark holds a BA from the University of Pennsylvania. He also completed coursework at the University of Bristol.
