P&C Actuarial Advisory
Clear Analysis for Confident Decisions
Built on 15+ years of experience across all sides of the industry
Built on 15+ years of experience across all sides of the industry
We go beyond just providing numbers. We bring the following pillars that built our practice to every engagement:
Actuarial methods are often perceived as a black box to non-actuaries. We excel at bridging the gap between observed experience and actuarial methods and assumptions, providing an intuitive understanding of the explicit assumptions underlying the actuarial analysis, the implicit assumptions in the selected results, and their business implications to inform better decisions.
Insurance risk is unique and specialized; we take care to really understand the full picture of your organization's retained risk, exposure characteristics, and actuarial needs to ensure our methods and assumptions fit, or are properly adjusted, to account for the given circumstances, and results and insights are explained in an intuitive and understandable way.
With 15+ years of experience, both advising clients while at a highly regarded management consulting practice and auditing actuarial work while at a Big Four firm, we can provide a unique 360° perspective, having been on both sides of the process and gaining extensive knowledge of the industry, current trends, and emerging risks.
Strong actuarial technical skills and the ability to incorporate knowledge of changing environments into methods and selections, not only through traditional approaches but also through advanced and specialized methodologies when appropriate, lead to higher-quality estimates and insight into the business.
Bedford Actuarial Advisory, LLC is a specialized property and casualty actuarial practice founded and led by Jim Bedford, FCAS, MAAA. Jim's career spans 15+ years providing similar actuarial services at a well-known management consulting firm, a Big Four audit and assurance firm, and direct experience in primary insurance pricing and predictive modeling — giving him a unique view of how actuarial work is performed, reviewed, and applied.
The following is a non-exhaustive list of actuarial services offered:
Independent actuarial support for organizations across the general insurance and risk landscape.
Unpaid loss and expense estimates, loss forecasting/budgeting, cost allocations, and claims analytics.
Independent actuarial support for captive programs, including reserve analyses, cost allocation, and feasibility work.
Loss reserve analyses, including NAIC Statements of Actuarial Opinion, ratemaking support, and peer review.
Loss projections, reserve analyses, and risk quantification for state and public sector risk pools.
P&C actuarial support for audits and regulatory exams, including evaluating methods and assumptions, or providing independent estimates.
We can help any organization that retains, evaluates, or needs insight into general insurance risk.
Hands-on experience across most P&C lines of business, including:
Excess workers' comp, large deductible programs, self-insured retentions, and state fund analysis.
Personal auto, homeowners, and related personal property and casualty coverages.
Commercial general liability, premises, products, and long-tail casualty lines.
Medical malpractice, E&O, D&O, and other professional liability lines.
Fleet programs, trucking, commercial auto liability, and physical damage.
Vehicle service contracts, warranty products, and other specialty program pricing and reserve analysis.