Neelaakshi Piplani is responsible for the overall management of A&A client engagements in North America. Her role in Xceedance involves participating in client engagements, relationship management, solutioning and delivery of products and services. She leads the Actuarial & Analytics Services India unit at Xceedance and has nine years of consulting experience in non-life-insurance pricing and reserving.
Neelaakshi has over 6+ years of experience in the admitted insurance market and has supported the expansion of insurers into new lines and geographies, while helping them to maintain a profitable book of business. Her core expertise lies in pricing, including the product development, business planning, proposal to underwriters and C level executives, designing rating plans, creating DOI filings, responding to DOI objections, and portfolio profitability monitoring.
She has supported a large regional P&C carrier in its suite of admitted products holistically to ensure products are built, filed, implemented, reported, monitored, and maintained to ensure not only profitable growth but also compliance with state and federal laws and regulations.
She has excellent understanding of the admitted insurance market and various advisory organizations like Insurance Services Office (ISO), National Council on Compensation Insurance (NCCI). She designed the pricing mechanism and developed an in-house ISO CLM based rating model for different lines of business, which helped in the build of the rating engine. She has spent a great amount of time supporting Underwriters and program managers in product Development of Commercial products including competitive analysis, experience rating plan, LCMs and other rating elements. She has performed the annual profitability studies to support pricing decisions, address rate inadequacy issues and provide recommendations to the business partners & Underwriters. She has set up a book monitoring process, to classify and evaluate the rate changes monthly on the book of business on specific metrics: exposure changes, retention rations, lost business
Neelaakshi had successfully set up the admitted pillars to maintain the product in the market including Bureau Monitoring to understand the changes announced by the advisory organization and how it impacts the book. She set up the filings and compliance team to support the filing transmittal to SERFF. She has gained expertise in creating filing packets to be submitted to regulators, create actuarial support exhibits & draft memorandum & provide filing objection support. She and her team have worked on over 2000+ filings across a variety of products- Commercial lines, Travel, Med Malpractice etc.
In her tenure with the client, she helped in managing and growing the book of business by over 200%. She has supported book roll overs for different program business and performed competitor analysis to design the proprietary products and support the go to market strategy (Lender’s Placed Insurance; Builders Risk).
Prior to Xceedance, Neelaakshi worked in AON India’s reserving team for North America Health insurance products. In this role, she performed reserving for many self-insured entities and captives; and provided a quarterly reserve analysis to the stakeholders. She also supported the actuaries in drafting the actuarial opinion and actuarial memorandum for self-insured corporations, and captive insurers to calculate IBNR and ALAE loss reserves and estimation of gross and net outstanding liabilities. As a seasoned resource on the team, she also helped in developing the health care reform models which helped analyze the impact of US reforms on the price. Neelaakshi also conducted training and onboarding of new employees, with a concentration on process training and helping them to absorb the intricacies of reserving.
Neelaakshi is an Associate of the Casualty Actuarial Society and holds a bachelor’s degree from the University of Delhi in applied mathematics. She is a receipiant of the 2020 Rising Stars Award from Intelligent Insurer and is an active member of the CAS, serving on committees and as a volunteer.