The traditional function of the actuary in the underwriting process is ratemaking; setting base rates and rating plans, and individual account rating. In this session we will explore some additional aspects of underwriting where the actuary is usually not included, but where he or she has important expertise and perspectives. The actuary's participation in these nontraditional functions increases his or her contribution to the company and, at the same time, builds his or her own professional value.
We will discuss the following items from "Main Street" commercial, large accounts, and reinsurance perspectives:
- What do actuaries do well verses what do underwriters do well, and how their skills can complement each other.
- The role and value of the actuary at underwriting audits.
- The value of bringing an actuary to meet the brokers and clients.
- Considering legislative, underwriting, and claims handling changes: theoretical verses market treatments.
- How to move into non-traditional roles.
Many members of the audience will have their own experiences in nontraditional roles, and we hope they will also share them as a part of the discussion.