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Michael Paczolt, FCAS, MAAA

Consulting Actuary
Chicago, IL, US

Tel: +1 312 4995720

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Professional Designations

  • Fellow, Casualty Actuarial Society
  • Member, American Academy of Actuaries

Education

  • BS, Actuarial Science, University of Illinois at Urbana-Champaign
  • MS, Predictive Analytics, Northwestern University

Current Responsibility

Mike Paczolt is a consulting actuary in the Chicago Casualty practice of Milliman. He joined the firm in 2007.

Experience

Mike's area of expertise is property and casualty insurance, including pricing, reserving, actuarial opinions, new product development, mergers and acquisitions, and captive feasibility studies. His client base includes insurers, captives, self-insureds/large-deductible programs, MGAs, retailers, and start-up ventures.

In addition to his experience in traditional property and casualty exposures, Mike has a special focus on warranties, extended warranties, and service contracts. He regularly speaks at conferences such as the Warranty Chain Management and Warranty Innovations conferences, as well as being an Advisory Board member of the Global Warranty & Service Contract Association (GWSCA).

In addition, Mike also concentrates on providing analytics and predictive modeling solutions to his client base by applying traditional modeling approaches such as generalized linear models (GLMs) and more modern machine learning approaches such as regression trees and clustering.

Publications

  • "Warranties: A Different Kind of Risk – Actuarial Assessment," Milliman Insight magazine, Spring 2009, Issue 8
  • "Managing Warranty Goodwill," Contingencies, September/October 2010, Vol. 22, Issue 5
  • "Illinois Reform Expected to Result in 8.5%-12.75% Decrease in Workers' Compensation Costs," Milliman Insight online, August 3, 2011
  • "Leveling the Playing Field: A Second Look at Warranty Goodwill Liability, Accounting Today, June 2012

Affiliations

  • CAS Exam Committee, 2010-Current
  • CAS Volunteer Task Force, 2010-2011
  • Advisory Board Member, GWSCA, 2013 - Current
  • Work at Milliman

    • “I was offered a chance to come in, shake things up, create something."
    Work at Milliman