JUSTIN LYNCH
Chicago
Summary
Detail-oriented and results-driven actuary with expertise in reserving, pricing, and advanced data analysis. Proven ability to enhance risk assessment, pricing accuracy, and profitability through innovative models and process optimization. Adept at communicating complex findings clearly to support data-driven decision-making in a collaborative team environment.
Overview
3
3
years of professional experience
1
1
Certification
Work History
Actuarial Consultant
CNA Insurance
03.2024 - Current
- Conducted a deductible analysis for the dentists' insurance program, uncovering excessive credits associated with large deductible policies, particularly prevalent in higher-risk states
- This analysis ensured that pricing accurately reflected the heightened risk exposures, mitigating the potential for underpricing in these areas and safeguarding portfolio profitability
- Led CA Rate Filing for Dentists Medical Malpractice, ensuring compliance with the state's regulatory framework, adjusting rates to achieve +10% premium increase while maintaining regulatory compliance
- Developed and implemented a VBA-driven Premium Forecast Weekly Template, automating updates and generating exhibits, reducing time spent on manual tasks by 10+ hours combined weekly for the SVP of Pricing and Data Management Team as well as supporting data-driven decisions on exposure, retention, and renewals
- Conducted several large account pricing analyses for Aging Service accounts, effectively utilizing the accounts' unique experience to develop pricing strategies more reflective of their risk profile compared to standard factors
- This approach improved pricing precision and strengthened alignment with underwriting objectives
- Contributed to the refresh of the medical malpractice nurses' model, improving model lift by 15%, resulting in better pricing precision and enhanced risk assessment for underwriting
Actuarial Consultant
CNA Insurance
10.2023 - 03.2024
- Led quarterly loss reserve analyses for Warranty, Fidelity, Fiduciary, Errors & Omissions and Employment Practices Liability programs
- Utilized reserving methodologies to generate precise, actuarially sound estimates
- Spearheaded the Warranty Plan LRs and reserve allocation process, ensuring timely execution and preventing potential Schedule F penalties
- Developed and distributed monthly Actual vs Expected Reports for Financial Lines and Warranty reserves, facilitating senior actuaries' ability to track reserve adequacy, contributing to proactive adjustments to reserve estimates
Actuarial Analyst
CNA Insurance
06.2022 - 09.2023
- Created and maintained a Warranty Diagnostic Packet, improving insights into claim frequency and severity
- Overhauled the Warranty Non-Insurance Reserve Review Process by integrating case reserves and claim counts, using R to manipulate data from an external provider of data
- This led to improved forecasting accuracy and allowed for a more reactive response to adverse experience in the warranty vehicle service contract market
Education
BSc. - Actuarial Science
University of the West Indies
Skills
- Advanced Excel Proficiency
- Statistical Analysis
- Database Querying
- R
- Data Analysis and Modeling
- GCP Workbench
- Arius Reserving Tool
Awards
- Highest Degree GPA: Awarded for achieving the highest GPA in the Faculty of Science & Technology.
- Dean's Honor Roll: Maintained a GPA of 3.6+ with no grade below B+ throughout academic tenure.
Certification
- Associate of the Casualty Actuarial Society (ACAS) - Casualty Actuarial Society.
Timeline
Actuarial Consultant
CNA Insurance
03.2024 - Current
Actuarial Consultant
CNA Insurance
10.2023 - 03.2024
Actuarial Analyst
CNA Insurance
06.2022 - 09.2023
- Associate of the Casualty Actuarial Society (ACAS) - Casualty Actuarial Society.
BSc. - Actuarial Science
University of the West Indies
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