Micah Woolstenhulme

Experience

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  PwC

  May 1999 - Oct 2001

  Associate, Pension Consulting

  Programmed and executed valuations of defined-benefit pension plans for IRS funding and FASB accounting purposes. Produced year-end financial disclosure information for clients' retirement liabilities, assets, and periodic pension costs. Certified actuarial equivalence of retirement benefit options for participants in client plans. Supervised annual collection, analysis, and reconciliation of participant data utilized in plan valuations. Resigned position in order to pursue a career in the property/casualty industry. Show less

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  Kemper Insurance

  Oct 2001 - Mar 2003

  Assistant Actuary, WC Pricing

  Performed actuarial analysis for rate change filings. Created and maintained interactive intranet-based financial reports monitoring underwriting results, discretionary pricing, and exposure distributions. Calculated residual market burdens. Significant special projects included aggregate loss distribution modeling, research on state guarantee funds, analysis of claim adjusters' utilization of MIRA, a case reserving analytics tool, and development of a novel algorithm to calculate onlevel earned premium. Show less

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  Safeco Insurance

  Mar 2003 - Mar 2005

  Associate Actuary, Corporate Actuarial

  Managed the building of Safeco’s first economic capital model, applying the model to reinsurance strategy, capital allocation, capital management, and asset strategy. Consulted the investment office on managing cash reserves, fixed income allocation, and optimal equity exposure. Managed a comprehensive stochastic review of diverse reserving lines with positive outcome on reserving practice and philosophy. Provided opinions on reinsurance rates for property, commercial and personal umbrella, surety, and workers compensation reinsurance. Show less

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  Samsung Fire & Marine Insurance

  Mar 2005 - Mar 2007

  Manager, Product Development Commercial Lines

  Researched and introduced insurance products from around the world to the Korean marketplace. Designed a robust aggregate loss model for risk management of new products, accepted by the Samsung Group as a key criterion in its risk review process. Built two custom simulation models for a complex system of reinsurance contracts to provide guidance for optimal coverage provisions. Worked with the South Korean regulatory authority in the creation of Risk-Based Capital (RBC) standards. Developed a parametric insurance product based on daily temperatures and the demand for LNG heating gas in South Korea, hedging the risk of incurring a national shortage due to periods of severely cold weather. Show less

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  Swiss Re

  Apr 2007 - Mar 2011

  Vice President: Product Development and Strategy

  Learned the reinsurance business from the capacity side. Became expert in pricing reinsurance contracts as well as in portfolio strategy and risk management. Designed and managed the implementation of a comprehensive cash flow simulation model for the Swiss Re casualty portfolio. Applications included portfolio steering, risk management, and inflation hedging analytics. Created and led a practice group of twenty actuaries, economists, and underwriters to model casualty exposures. The group established commonalities in modeling casualty risks across diverse international markets and facilitated the cross-functional sharing of these approaches. Led a task force of eighteen professionals charged with reforming trending procedures used in actuarial pricing of casualty reinsurance treaties. This enabled the company to quantify the effects of economic uncertainties on casualty loss costs using non-insurance data. Led the development of an econometric solution to the corporation’s large workers compensation claim exposure. Designed a private transaction to protect the company from unanticipated medical cost escalation, improved claims reserving models and monitoring of case reserves. Show less

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  Guy Carpenter

  Apr 2011 - Aug 2016

  Managing Director, ERM Advisory

  Designed and staffed several advisory assets, including BenchmaRQ and STEM. BenchmaRQ is a standardized economic capital model for all US P&C insurance companies and has improved existing business as well as a consulting revenue stream. STEM is a portfolio steering model that provides the industry’s best-informed view on the relative diversification value of P&C business growth by line of business and geography. Managed the production and ongoing research interests of the Insurance Risk Benchmarks Project, which produces reports designed to assist P&C insurance companies in quantifying risk. The project revealed many unrecognized dynamics of risk and performance in the P&C industry and the results have been applied to management consulting for large national companies as well as rating agencies. Led the analytics supporting the creation of a startup Bermuda-based reinsurer with strong focus on US natural perils. Retained to guide one of the largest personal lines companies toward improved results in the underperforming homeowners line. Using a fully developed economic capital model with state detail for attritional, weather, and natural catastrophe losses, I showed how to deploy capital and prioritize actions for remediation of the book. Represented Guy Carpenter in numerous professional forums to establish the firm as a thought leader on contemporary topics, including AASCIF, CAS, CAGNY, CAMAR, and CARe. Significant topics include property catastrophe model robustness, industry solvency, ORSA, and risk appetite and tolerances. Show less

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  JLT Re

  Aug 2016 - Mar 2020

  Head of Risk and Economic Advisory

  Developed and deployed assets and strategy for business development and individual account management in the areas of capital strategy, capital modeling, portfolio steering, risk profile management, enterprise risk management, risk appetite, and risk tolerance. A decade in this capacity for two employers connected me with executives and boards across the size spectrum of the P&C industry. My talent for ‘sales engineering’ generated many new reinsurance broking clients as well as fees for service. Show less

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  UFG Insurance

  Mar 2020 - now

  Chief Risk and Reinsurance Officer

  Appointed as Chief Risk Officer in early 2020 to build an Enterprise Risk Management (ERM) program that improves decision-making. Developed the business plan for expansion of assumed reinsurance operations, overseeing the creation of the department and leading execution of the plan. Additionally appointed as Chief Reinsurance Officer in February 2023.Corporate Leadership: Business development, corporate development, capital stewardship, portfolio steering, organizational development, ceded reinsurance, financial strength ratings, financial planning and analysis, talent development and empowerment.Enterprise Risk Management: Corporate risk appetite, risk tolerance, ORSA, economic capital modelingAssumed Reinsurance: Results ownership, strategy, business planning, underwriting, career mapping, relationship management, contract management, portfolio modeling.Enterprise analytics: Actuarial process, data science, natural catastrophe modeling, Show less