Who else, besides the underwriter, should be involved in reserving reviews?

In the context of reserving reviews, actuaries play a critical role alongside underwriters. This is primarily because actuaries possess specialized skills in analyzing data and assessing the likelihood of future claims. Their training in statistics and finance enables them to estimate the reserves required to cover potential claims accurately. By collaborating with underwriters, actuaries can provide insights into risk assessment and loss forecasts, which are essential for determining the adequacy of reserves.

While claims adjusters do have significant involvement in the claims process and can provide practical insights into claims experiences, their focus is often more on the management of individual claims rather than the overall reserve calculations. Underwriters are involved in the initial assessment of risk but may not have the same level of expertise in reserving as actuaries. Marketing specialists, on the other hand, are primarily concerned with promoting products and acquiring new business, and they do not typically engage in the technical aspects of reserving for claims. Thus, the depth of actuarial expertise makes them essential contributors in reserving reviews alongside underwriters.