BMS Group, the London-based global broker, announced that it has reached an agreement with US actuarial specialists Pinnacle Actuarial Resources, Inc. to provide predictive modeling to its clients.
“Specialist predictive modeling has become an essential element in any leading-edge analytics tool kit and BMS has sought to ensure it can offer this innovative solution to its clients,” said the announcement. “Over the last 18 months BMS has significantly enhanced its Analytical Services division. Incorporating predictive modeling into its offering will allow BMS to give its clients a powerful range of tools to enhance their ability to assess and price risks, as well as improve claims and underwriting processes, leading to enhanced growth and profitability.”
BMS said is Analytical Services team “will work closely with Pinnacle, who will supply predictive modeling analyses and implementation support, as appropriate, to BMS clients. This joint venture is exclusive to BMS, as the only reinsurance intermediary Pinnacle is partnering with to offer its predictive modeling expertise to their primary company clients.
CEO, Carl Beardmore indicated that the “exclusive relationship with Pinnacle will ensure our Analytical Services offering is one of the best in the business, providing clients with a tailored, cutting-edge package to meet their actuarial needs.”
Dave Spiegler, EVP and Chief Actuary, explained that “BMS is committed to enhancing our analytical capabilities to offer our clients everything they expect and more. We look forward to working with experts of Pinnacle’s caliber, giving our clients the very best in predictive modeling services allowing them to better meet their growth and profitability goals.”
Roosevelt Mosley, Principal and Consulting Actuary at Pinnacle, added that in working with BMS his firm would “assist their clients in their predictive modeling needs. Whether it’s developing pricing models and rating relativities, evaluating new rating factors, analyzing underwriting processes, optimizing claim processes or developing claim fraud detection models, we’re ready to bring deep and extensive experience to BMS’s clients.”
Source: BMS Group