Insurance Consulting

Don’t Be JAMT.

You’ve decided to grow your book of business. Good for you. So has every other company in this hypercompetitive insurance market.

You want your company’s product to stand out, to get the agents’ attention. But does your actuarial firm set rates based on spreadsheet averages? If so, you might become JAMT.

“Just Another Me-Too.” Because if your firm prices your book without hyperlocal knowledge of your specific marketplace, then the only thing that will get attention is your high loss ratio.

I Can Do It.
In Fact, I’ve Done It Before.

I understand how difficult it is to balance profit and growth because I’ve done it. I’ve done startups. I’ve done new product introductions. I’ve done turnarounds. I’ve done product revitalization.

I began my insurance career as an actuarial analyst in 1992 when my on-the-job training consisted of my new boss, the CFO, handing me a milk crate of Virginia agent manuals and saying, “Here, Christy. Analyze these.” I must have marked them up pretty darn well, because within 18 months, she made me a vice president.

Since then, I passed the first set of actuarial exams before switching over to product management, designed and led development of two data warehouses, served as an executive at Nationwide Insurance, and even owned an agency for two and a half years. (It turns out those agents have a hard job.)

I began my career in nonstandard auto, have developed by-peril rating plans for homeowners, and have worked on multi-variate analysis for standard auto. I’ve even done a little BOP. (As an agent, I had an article on the first page of Google for “home jewelry business insurance.” I also hit the first page of Google for “Does my homeowners policy cover toilet overflow?”, though that wasn’t exactly my target market.)

So, yeah. I’ve done it.

Start-Up Organization

As one of the founders of The Vision Insurance Group, I set up and managed the product management department. From the time we wrote our first policy in Tennessee in 1998 until we sold from the company to ALFA in 2004, we took the organization from a dream—a vision—to an $85 million, nine-state operation

Fortune 100 Growth Mode

Brought in to Nationwide Insurance as part of the effort to grow a product management department. As an officer-level executive, I led team of product managers and analysts that took over eleven products in eight states with declining premiums, and turned book around to 7% above plan.

Turnaround Operation

At Great Northwest Insurance, devastated by multiple years of midwestern wind/hail losses, worked with actuarial firm to develop multi-variate auto rating plan and multi-peril homeowners rating plan, uncovering segments that were underpriced and rebalancing the book of business. In three years, auto loss ratio improved by 17.2 points and homeowners non-wind/hail loss ratio improved by 15.7 points.
Eric Bur
Eric Bur VP, Sales and Distribution, Permanent General Insurance
“Christy is an experienced, knowledgeable, and hands-on insurance professional. She worked exeptionally well with the sales team at Vision to creatively solve problems and design products that worked in our respective markets.”

You Have Enough To Worry About

Don’t make these mistakes when you hire pricing and product management expertise:

  • Don’t get lost in an enormous actuarial firm. As an independent consultant, I give you personal, one-on-one attention and a long-term relationship. You won’t have to explain your business to a new analyst with every new project.
  • Don’t inflate your expense ratio. Because I work independently, I don’t have a large infrastructure to support, which means I can pass the savings on to you. In turn, you can pass those savings on to your customers, because we both know that you won’t grow your business with an inflated expense ratio.
  • Don’t be JAMT. Copying the average makes you just another clone. If you want to grow, you need help finding specific niches that fit your company’s strengths and setting rates to match the chosen strategy. Good luck finding this in a large actuarial firm. You’ll get this type of expertise only from someone with intimate local knowledge of the specific state and product.

Laura Harris
Laura Harris Owner, Laura Harris Insurance Agency
“Christy is a knowledgable educator. She has consulted me on more than one occasion and is definitely a tremendous resource for any business owner.”

What I Do

To help you price your product, I offer:

  • Pricing strategy research and consulting, with personal experience in auto and homeowners (credit-scored and non-credit-scored) in Texas, California, the South, and the Midwest;
  • Competitive analysis;
  • Elasticity and fuzzy logic models (if closing ratio data are available);
  • Spreadsheet or database tools for pricing;
  • Data warehouse design and implementation; and
  • Education and training on pricing and product management,

all backed up by a network of associates I can call on if we need additional help.

And, without their overhead, I do this at a more competitive rate than a large actuarial firm.

Julie Davis Friend
Julie Davis Friend Strategic Business Advisor, Author, Professional Speaker
“Christy is a caring, knowledgeable, diligent service provider who focuses on each client individually with their needs in mind.”

I’d Love To Help

You need specific knowledge of auto and homeowners product and pricing in your states.

Call me. I’d love to help.