Our Services
As consultants, we offer personalized and comprehensive end-to-end services, functioning as an extension of your team, which allows us to get to market faster, and better while minimizing risk.
ACTUARIAL
With our training and customer-centric approach to insurance operations, we provide you with:
• predictive modeling and rate making
• pricing
• strategic planning
• risk management
• underwriting support
We will provide you with the insights to help you explore our analysis so you can understand the process and the conclusions for yourself. We will communicate the technical details to non-technical audiences, giving you all the information you need to make the best decisions for your company.
PRODUCT
DEVELOPMENT
Whether you’re launching a new product or entering a new market, we understand how stakeholders behave in the realm of regulators, underwriters, actuaries, reinsurers, and carriers as well as in the startup communities of developers, investors, and entrepreneurs. This experience combined with our actuarial, pricing, analytical support and market research will get you to market faster.
Every analyst at CANARY is recruited and trained specifically for the actuarial product-development process from start to finish—from base rate development, to predictive modeling, to Rate and Rule Manual Design. Through it all, we’ll work as your partner, to quickly build and sell your product.
STATE FILINGS & COMPLIANCE
We ensure you’re compliant in every step of your product development process. When it’s time to bring your product to market, we prepare and submit filings accurately and efficiently. Because of our in-house actuarial support, DOI relationships, and experience in all P&C lines of business in every state, we get you to market faster.
RESERVING
CANARY helps self-insured entities analyze their unpaid liabilities and other self-insurance programs. Ohio has a unique Workers Compensation system – we are actuaries centrally located in Ohio. We understand the nuances of this system and your specific needs as an Ohio self-insured. We calculate unpaid liability estimates of your Workers Compensation and other Liability exposure, and we can help you assess the effectiveness of your Workers Compensation programs such as return-to-work programs.
The cost of a Work Comp claim is based on many factors. CANARY's claim reserving model considers all aspects of the claim -- Injury Type and distribution of Medial and Lost Time payments -- all can be major drives of a claim that won't be identified in your average actuarial reserve analysis. We determine the appropriate claim life for your open claims, and model the cost schedule for all your claims to their final closing date.
Claims data can be messy. Missing, incomplete, or unreliable data fields are not uncommon - however, you still want to get as much value as possible from the information you have. We use techniques to "clean" your data and prepare it for statistical analysis.