Actuarial + Entrepreneurial
We provide clarity out of the chaos
Designing or revising an insurance product is tricky – you might know how much you can sell it for, but how much will it cost to underwrite? Sometimes the actuarial cost of the idea exceeds what the market will pay for it. Have you considered any scenario where one event simultaneously triggers claims for the many policies you’ve sold—from a product design strategy, an underwriting strategy, an actuarial strategy? Do you know what the competition is doing? Where will your product be sold—Admitted market or Surplus Lines market? Are your stakeholders growth-oriented or downside-oriented?
Having a thorough understanding of your insurance product itself is not enough – your team should understand how all of the parties involved in the insurance process will behave: not just the customers and investors but the carrier underwriters, agents, actuaries, regulators and reinsurers. In insurance, there are so many parties who are heavily invested in your product with different needs, and all of them need to be negotiated with to have a successful product.
We apply our knowledge and actuarial insights to emerge out of this chaos and translate our insights so you can implement a strategic approach to launch your product with efficiency and clarity.
We are innovators
InsureTech is transforming the Insurance Industry. We are here for it.
We get hands-on with big data, AI, and new technologies and apps, so you can conceive the next product the market demands. We consider all the implications of your endeavor.
We see your opportunities. We see your team. Canary Consulting specializes in:
modeling around the viability of your product
optimizing how your product is designed and performs
promoting and protecting your product with stakeholders
working as a partner as you grow and build your team
ensuring you’re compliant, getting you through state filing processes
All with the proven skills you need to get to market fast.
Teams start companies—
we are part of your team
In order to solve complex, never-been-done-before problems for our clients, we have an extremely personalized touch for the application of our knowledge: we quickly and cohesively integrate with our clients’ teams, working as partners on projects. So, not only is the inclusion of our diverse, experienced, and skilled team important for bringing our own talents to the table, but also for helping you get more value out of the teams you already have…. or the team you need to build.
This is especially valuable in working with Startups—once you get funding (which we can help support the pricing and profitability of your plan), you need to hit the ground running. We act as an extension of your growing team, and even help train your team.