John Pedrick

Experience

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  The Hill School

  Jan 1981 - Jan 1986

  Instructor of Math

  I was hired to teach the two-year calculus syllabus along with other courses as a member of the Mathematics Department faculty. I was also a Head of Dormitory for 60 boys and two other faculty members, and a football and tennis coach. A unique experience in one of the country's top private schools.

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  CIGNA Corporation - P&C Division

  Jan 1986 - Jan 1990

  Actuarial Analyst

  This was my first job in insurance and as an actuarial analyst. I did work in personal lines rates and General Liability reserving

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  Providian Auto and Home Insurance Company

  Jan 1990 - Jan 1995

  Actuarial Analyst

  This was my second job as an actuarial analyst, and the one that taught me the most about how to get work done as an actuary. Soup to Nuts: we extracted the data, did the research, developed filings, submitted them, worked with regulators for approval, announced approved changes within the organization, worked with all others to get the new rates and programs up and running, and created the manual pages. While most of this was for personal auto insurance, I eventually became Lead Actuary for personal property lines. With an underwriting partner, I implemented the then-new ISO Homeowners program. Show less

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  Ohio Department of Insurance

  Jan 1995 - Jan 2007

  Assistant Director - Product Regulation and Actuarial Services

  I led all product and rate regulation for all lines of business for the Department of Insurance. This included all Life, Health, and P&C products licensed in the state. I provided legislative analysis and testimony, and represented the state on several NAIC committees and task forces, including the Property & Casualty Committee, the Casualty Actuarial Task Force and their subcommittees. I represented the Director (Insurance Commissioner) as a member of the Ohio Seismic Hazards Advisory Board, and as an ex-officio member of the Ohio Fair Plan. Show less

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  Ohio Bureau of Workers Compensation

  Jul 2007 - Jun 2011

  Chief Actuarial Officer

  This position was pivotal in my insurance career. Mutual respect and encouragement among the senior leadership team, fostered by the CEO, provided the fuel to create system-wide improvements. We developed and presented our plans, and reports on our progress, to a new Board of Directors, convinced the Governor, the Legislature, and employers throughout the state that breaking down and replacing institutionalized, antiquated programs with fair, productive, and measurable alternatives would position the state's workers compensation system for the future. This lead to the reform of all major rate setting programs, including the introduction of the state's first deductible program and retrospective rating program for employer groups. It also lead to an Investment Policy Statement that severed the link between portfolio returns and the investment assumptions (discount rate) underlying loss reserves, eliminating a major source of balance sheet instability and allowing the organization to develop a policy for the optimal level of Net Assets (Surplus). This has facilitated improvements to the Ohio system ever since. Show less

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  Liberty Mutual Group

  Jul 2011 - Apr 2012

  Manager - Product Intelligence & Analytics - WC

  I joined the newly created Product Management staff to help identify opportunities to improve profitability, to provide strategy and pricing advice to the regional actuarial staff, and to develop analytic approaches to underwriting strategy.

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  ISO

  Apr 2012 - Jun 2013

  AVP and Actuary - State Relations

  I led the state relations staff for ISO. The staff included those who make all product, rate and loss cost filings, and those who managed state relations. This also meant acting as an internal consultant for the various product and actuarial teams regarding regulatory strategy and approaches to make complex actuarial methods clear for the intended audiences.

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  INS CONSULTANTS, INC.

  Jul 2013 - Aug 2015

  Actuary

  I advised insurance regulators regarding the actuarial soundness of insurance company rate filings and rating bureau loss cost filings, conducted pricing process examinations of insurers as part of risk-focused examinations, reviewed the actuarial assumptions and analyses underlying captive insurer applications, and provided other ad-hoc analyses.

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  PENNSYLVANIA COMPENSATION RATING BUREAU (PCRB)

  Sept 2015 - Jun 2018

  Vice President - Actuarial Services

  Led improvements in actuarial work, research, and industry reports provided to our many stakeholders, including the public. Improved communication with regulatory agencies, insurers, and all stakeholders. Established a core of professionalism in our work as the workers compensation rating bureaus for both Pennsylvania and Delaware.

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  INS CONSULTANTS, INC.

  Jul 2018 - now

  Leads the INS property/casualty actuarial team, assign and participates in all work, including risk-focused examinations, rate and rule filing reviews, captive examinations, captive application reviews, and various special projects. I advise insurance regulators regarding the actuarial soundness of insurance company rate filings and rating bureau loss cost filings, conduct pricing process examinations of insurers as part of risk-focused examinations, review the actuarial assumptions and analyses underlying captive insurer applications, and provid other ad-hoc analyses.

  • Chief Property / Casualty Actuary

    May 2022 - now

  • Actuary

    Jul 2018 - May 2022