How Actuaries Help P/C Insurers Navigate Uncertain Markets

June 11, 2009

  • June 11, 2009 at 12:29 pm
    J Doe says:
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    That’s what she said.

  • June 11, 2009 at 12:56 pm
    Joe says:
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    Dear J. Doe:

    Are you any relation to John Deere? Can you run like a deer?

  • June 11, 2009 at 1:34 am
    not actuarlly says:
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    When their neurons are firing–even before they open their mouths.

    A phony scientific priesthood backed up by deliberately incomprehensible math. If they can predict the future, even for a minute, why aren’t they all retired from stock market gains?

    Bah! Humbug! High priced eye wash to reduce liabilities for D’s and O’s….

  • June 11, 2009 at 2:57 am
    The Underwriter says:
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    The phrase ‘warm bucket of spit’ comes to mind.

  • June 12, 2009 at 5:57 am
    E&S Man says:
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    Please-actuaries have destroyed underwriting. They are treated as Gods and like weathermen, don’t have to be right with their predictions. Give me a seasoned underwriter any day over an actuary. They produce nothing but problems in companies and often think they ARE in charge.

  • June 12, 2009 at 9:44 am
    nobody important says:
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    I’m an old underwriter and I know that pricing by underwriters is a joke. I don’t want to hang around with actuaries, boring beyond words, but they do serve their purpose. Underwriters in general just pick numbers out of the air based on competition, not exposure.

  • June 12, 2009 at 11:10 am
    E&S Man says:
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    Bull, a GOOD underwriter uses their skills; a poor one may pick rates out of the air-but that is what an actuary DOES-ever see how they come up with their loss pics?

  • June 12, 2009 at 11:31 am
    nobody important says:
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    Actually, the majority of the underwriters appear to pick numbers out of the air. The actuaries I know use statistical analysis and historical data. Apparently you aren’t aquainted with many more good actuaries than I am with underwriters who use something more than competition for pricing.

  • June 12, 2009 at 12:38 pm
    Joe Mama says:
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    How you can you tell the difference between an introverted and an extroverted actuary?

    The extroverted actuary looks at YOUR feet when they’re talking to you!

    Have a great weekend, everyone!!!

  • June 12, 2009 at 2:25 am
    hang me says:
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    worst joke EVER! We are all now dumber for having heard it. May god have mercy on your soul. LOL

  • June 15, 2009 at 1:12 am
    actuary says:
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    Our math is incomprehensible? Apparently you don’t know much about math, most of the mathematical tools we use are 19th century. I became an actuary because I couldn’t understand REAL math. Besides, we have to keep it simple so underwriters can understand it.

  • June 22, 2009 at 3:43 am
    Reinsurance Professional says:
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    I have been both a reinsurance broker and an underwriter throughout my career. Both jobs required me to work closely with actuaries. I myself have a math background but never wanted to be an actuary. I enjoy working with them but I do have to admit there is some truth to them sometimes acting like they are in charge. While the cold hard pricing is a very important part of the process, this is a relationship business and I have found that some of the actuaries I have had the pleasure of working with over the years do not understand that part and are quick to dismiss what ultimately ends up being a good piece of business. Why do they always have to be so conservative?! It’s a balancing act. It gets frustrating at times but I know I would never want to do what the actuaries do. Understanding it is enough for me!



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