Andrew Provines
FCAS, MAAA
Actuary
Wakefield, MA, US
Andrew Provines is a consulting actuary with the Boston office of Milliman. He joined the firm in 2017.
Experience
Andrew’s experience in property and casualty actuarial work includes loss reserving, ratemaking, simulation modeling, and data analysis. While still relatively early in his career, Andrew has gained considerable experience in the alternative risk market. Andrew supports the ongoing actuarial needs of numerous clients, ranging from property and casualty insurers to captives, MGAs, and public entity risk pools. Examples of Andrew’s multi-faceted actuarial career include:
- Supporting the reserving and pricing functions for many captives, MGAs, and public entity risk pools
- Assisting in the issuance of statements of actuarial opinion
- Building predictive models, including pricing using generalized linear models
- Developing and performing simulation modeling in areas such as reserve and funding variability, parametric insurance, stress testing, and risk transfer analyses
- Providing funding estimates and developing pro-forma financial projections for potential captive insurers
- Reviewing rate filings for multiple state insurance departments
Publications and Presentations
- Presumptive Benefits in Workers’ Compensation: Emerging Issues Before and During COVID-19; American Academy of Actuaries Annual Meeting, November 2020.
- Co-author for AAA Issue Brief issued June 2020.
- Vaccine mandates and vaccine injuries: An unexpected cost to the workers' compensation system. Milliman Insight; September 2021.
- Captivating savings: Are captives more profitable than other forms of insurance? Milliman Insight; September 2021.
- Parametric insurance: A captivating solution. Milliman Insight; May 2022.
- Public entity risk pools: Three large liability claim types to look out for. Milliman Insight; June 2022.
- Is it all about taxes? A cash flow approach to captive insurance. Milliman Insight; March 2023.
- How to decrease cyber insurance premiums for municipalities and other public entities. Milliman Insight; March 2023.
Professional Designations
- Fellow, Casualty Actuarial Society
- Member, American Academy of Actuaries
Education
- BA, Mathematics and Economics, Boston College
Publications
Read their latest work
Article
How to decrease cyber insurance premiums for municipalities and other public entities?
27 March 2023 - by Andrew Provines
Public entities can lower cyber insurance costs by changing their coverage structures, but the best way is by implementing effective risk management procedures.
Article
Is it all about taxes? A cash flow approach to captive insurance
06 March 2023 - by Andrew Provines
Companies may be better off economically by self-insuring if the rate spread between its cost of capital and what it can earn in the captive is greater than 1%.
Article
Public entity risk pools: Three large liability claim types to look out for
14 June 2022 - by Andrew Provines
We discuss 3 claim types public-entity risk pools face: false arrest and wrongful convictions, land use violations, and civil rights violations and retaliation.
Article
Parametric insurance: A captivating solution
18 May 2022 - by Andrew Provines, Karl Goring
Parametric policies, which pay based on the magnitude of an event, can bridge coverage gaps that are difficult to insure with a traditional indemnity policy.
Article
Captivating savings: Are captives more profitable than other forms of insurance?
23 September 2021 - by Andrew Provines, Mary Ann McMahon
Learn more on whether single parent captive insurers themselves earn higher profits than other forms of insurance.
Article
Vaccine mandates and vaccine injuries: An unexpected cost to the workers’ compensation system
16 September 2021 - by Andrew Provines, Stephen DiCenso
Review our estimates for future costs of the U.S. workers’ compensation system for vaccine injuries attributable to the employer mandates.