Grover M. Edie
MBA, FCAS, MAAA, CPCU, ARP, CERA, ARM
Mr. Edie holds a Master of Business Administration in Finance, is a Fellow of the Casualty Actuarial Society, is a Member of the American Academy of Actuaries, is a Chartered Property Casualty Underwriter, is an Associate in Research and Planning, is a Certified Enterprise Risk Analyst, and an Associate in Risk Management. Prior to joining Huggins he was Vice President and Chief Actuary at Michigan Millers Mutual Insurance Company, and before that was Vice President and Chief Actuary at GMAC Insurance Company where he oversaw all actuarial activities including, pricing and loss reserving, and enterprise risk management in personal auto, commercial lines, auto extended service contracts, assumed reinsurance and other miscellaneous lines of insurance. Mr. Edie has over forty years of experience in the actuarial field.
Mr. Edie’s professional experience includes:
- Responsible for all pricing of vehicle service contracts for the U.S. and Canada, lead product development; introduced Guaranteed Asset Protection (“GAP”) coverage, revised extended service contract rates and contract to reflect increase in GM’s manufacturer power train warranties, and developed a combination vehicle service contract, scheduled maintenance and road hazard coverage for European operations;
- Chaired Enterprise Risk Management committees, and assisted the international business units in implementing the Solvency-2 protocol, a risk management and governance requirement for Europe and Mexico;
- Responsible for capital modeling implementation of a true capital modeling program, designed for insurance companies, which could be used in all the GMAC insurance business applications;
- Participated in the purchase and acquisitions of major insurance companies;
- Chaired pricing committee and reviewed all major pricing activities, established and monitored pricing standards, implemented Generalized Linear Modeling, served as the appointed actuary for NAIC Statutory Annual statement, and established and monitored the application of standard for use in estimating loss and loss expense reserves and oversaw the group wide compilation;
- Created and developed data management activities for GMAC, which extracted, compiled, and validated the data for the actuarial staff;
- Oversight for state filings groups, and testimony at National Association of Insurance Commissioners meetings;
- Directed all credentialed actuaries for GMAC Insurance Group, including employment and training of all actuarial staff, including actuarial exam programs;
- Responsible for reinsurance purchases for a major insurance company.
Mr. Edie is the current Editor in Chief of the Actuarial Review (Casualty Actuarial Society newsletter), is the author of, “Evaluating the Unearned Premium Reserve for Automobile Extended Service Contracts,” for the Casualty Actuarial Society Forum, and was a speaker at several Casualty Actuarial Society Enterprise Risk Management seminars. He is also a current member of the Applied Math Advisory Board of Kettering University. Mr. Edie has achieved a Master of Business Administration in Finance from Michigan State University, and his Bachelors of Arts in Physics at Emporia State University.