Free Webcast this Thursday: “Use of Simulation Models in Pricing Health Insurance and Reinsurance Risk”

Join us on Thursday, August 25, 2011, for a free live webcast delivered by Tim Robinson and David Wilson, entitled "Use of Simulation Models in Pricing Health Insurance and Reinsurance Risk."

While healthcare claim costs are fairly predictable for large populations, existing pricing models often prove inadequate for that portion of the risk that is the most variable: large or “excess loss” claims typically covered by employer stop loss and other forms of reinsurance for high-cost claims. Even when rating and underwriting applications are able to accurately forecast expected claim costs, they are typically not structured to measure the variability in such claim costs from year to year. This is problematic when conducting detailed enterprise risk assessment studies or estimating capital and surplus requirements for health insurance programs. This webcast will illustrate some applications of @RISK risk modeling software to solving these problems. Examples will include Monte Carlo simulation models designed to quantify capital and surplus requirements for a health reinsurance captive; simulation models designed to price aggregate employer stop loss insurance; and simulation models designed to price aggregating specific or “inner aggregate” corridors in employer stop loss insurance.

Tim Robinson has over 20 years of experience as a healthcare actuary. He has a broad range of actuarial, underwriting and management experience working with diverse organizations including reinsurers, insurance companies, disease management firms, health plans and employer groups.  Tim has worked most recently on developing innovative healthcare rating and underwriting models; strategic and analytic support for a variety of start-up health insurance programs; and underwriting applications of predictive modeling and large claims analysis.  He also has extensive experience with product development, pricing, underwriting and valuation work for insurers and plan sponsors.  Tim is a Partner with Windsor Strategy Partners, LLC.  He works with clients in the healthcare industry, directing actuarial and strategic analysis in support of their risk management goals and initiatives.

David Wilson is the founder and President of Windsor Strategy Partners. Windsor Strategy Partners is a specialized healthcare strategy firm helping clients develop and implement strategic growth and risk management initiatives. WSP’s clients include leading reinsurers, insurers, captive insurers, provider organizations, technology companies, employee benefit consulting firms, reinsurance intermediaries and investment groups. David leads the firm’s marketing and research effort and acting as a senior advisor to our clients and partners. David has been active in the health insurance arena for over 30 years. He is recognized as a leading expert in healthcare insurance and reinsurance pricing and underwriting. He is a strategic advisor to start-up and established companies in the health insurance field.

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