Planning, Analytics & Risk Management

This work unit is a center for business support excellence, providing data, analytics, forecasting, product improvement, filings and support that helps the company grow and become more profitable.

The Planning, Analytics & Risk Management (PARM) department encompasses:

  • Planning provides assistance with a variety of planning and reporting functions for all departments, including annual strategic plans, business expense and staffing plans, target setting, cost benefit analysis and managerial reporting.
  • Corporate Actuarial provides the following services: 1) enterprise risk analysis, including dynamic financial analysis; 2) reserving; 3) financial planning support, including financial forecasts; 4) financial analysis; and 5) reinsurance support.
  • Predictive Analytics group manages data modeling for property casualty insurance pricing, underwriting and claims.
  • Staff Underwriting develops rates, rules and forms, filing them with the various state departments of insurance, and deploys bulletins for agents and underwriters.
  • Pricing Analytics group provides analysis and support for personal and commercial product pricing and manual rate filings. The group works with underwriting departments to provide analysis and develop tools to achieve their goals.

PARM associates are insurance professionals, including financial analysts, filing specialists and actuaries who specialize in analyzing the financial impacts of our business plans, evaluating risk, developing rates for our insurance products and interacting with departments of insurance. They may hold a Chartered Property Casualty Underwriter (CPCU) or actuarial designation and are familiar with our company’s underwriting philosophies. Our actuarial associates understand principles of statistical analysis and modeling. Associates in this department require an attention to detail.