Insights

We aim to be the platform and industry benchmark forprinciples-based insurance data analytics and risk management.


About Us

We aim to be the platform and industry benchmark forprinciples-based insurance data analytics and risk management.

Ruark’s industry experience studies of annuity policyholder behavior are fueled by data contributed each year from companies comprising over $1.1 trillion of current account values. These studies address complex and interrelated behaviors such as surrenders, partial withdrawals, annuitizations, and mortality, and are the foundation for our more advanced client services. These services range from assumption reviews to customized readily-implementable modeling with a quantified risk profile based on a combination of predictive analytics, credibility theory, and expert judgment, to full process management. More broadly, in the reinsurance space we have placed and continue to administer dozens of treaties totaling over $1.5 billion of reinsurance premium and $30 billion of account value, and also offer reinsurance audit and administration services. In the pension space, we performed the data gathering and analysis that led to the publication of the Pri-2012 mortality tables by the Society of Actuaries (SOA) in 2019.

We are frequent speakers at industry events in the US and abroad on the topics of longevity, policyholder behavior and modeling, product guarantees, and reinsurance. Our work and commentary have appeared in National Underwriter, Investment News, Life Annuity Specialist (Financial Times), American Banker, Annuity News, InsuranceNewsNet, Retirement Income Journal, Insurance Risk, and The Actuary and several other newsletters and podcasts of the SOA. In 2018, CEO Timothy Paris was the subject of an SOA video and article about actuaries embracing predictive analytics. Tim is also the author of the chapter “Modeling and Managing Policyholder Behavior Risk” in the book Non-traditional Life Insurance Products with Guarantees. We are active within the SOA, through elected membership on section councils, editorial work for publications, working groups, and other projects.

We enjoy an ongoing collaboration with the Goldenson Center for Actuarial Research at the University of Connecticut.

OUR TEAM

Timothy Paris

Timothy Paris


Ruark

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Tim is chief executive officer at Ruark Consulting LLC, which aims to be the platform and industry benchmark for principles-based insurance data analytics and risk management.

Ruark’s industry experience studies of annuity policyholder behavior are fueled by data contributed each year from companies comprising over $1.1 trillion of current account values.  These studies address complex and interrelated behaviors such as surrenders, partial withdrawals, annuitizations, and mortality, and are the foundation for our more advanced client services.  These services range from assumption reviews to customized readily-implementable modeling with a quantified risk profile based on a combination of predictive analytics, credibility theory, and expert judgment, to full process management.  More broadly, in the reinsurance space we have placed and continue to administer dozens of treaties totaling over $1.5 billion of reinsurance premium and $30 billion of account value, and also offer reinsurance audit and administration services.  In the pension space, we performed the data gathering and analysis that led to the publication of the Pri-2012 mortality tables by the Society of Actuaries (SOA) in 2019.

As an actuary and business leader, Tim is a frequent speaker at industry events in the US and abroad on the topics of longevity, policyholder behavior and modeling, product guarantees, and reinsurance.  In 2018 he was the subject of an SOA video and article about actuaries embracing predictive analytics.  His work and commentary have appeared in National Underwriter, Investment News, Life Annuity Specialist (Financial Times), American Banker, Annuity News, InsuranceNewsNet, Retirement Income Journal, Insurance Risk, and The Actuary and several other newsletters and podcasts of the SOA.  He is also the author of the chapter “Modeling and Managing Policyholder Behavior Risk” in the book Non-traditional Life Insurance Products with Guarantees.

Tim is a member of the Advisory Board of the Goldenson Center for Actuarial Research at the University of Connecticut.  Within the SOA, he has served as an elected member of the Reinsurance Section Council, leader of the Assumption Development and Governance Subgroup of the Modeling Section, Contributing Editor for The Actuary magazine, Caribbean Editor for the International Section newsletter, and member of the Policyholder Behavior in the Tail working group of the Joint Risk Management Section.  He has also served as a member of the Business Advisory Panel of Insurance Ireland, and a member of the Financial Reporting Committee of the Bermuda International Long Term Insurers and Reinsurers Association.

Tim is a Fellow of the Society of Actuaries, a Member of the American Academy of Actuaries, and a graduate of the University of Connecticut where he earned a BS in Mathematics with high honors.

Claudia Berns


Ruark

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After graduating from the University of Connecticut with a Bachelor’s Degree in Finance, Claudia began her career at the Travelers Insurance Company in Hartford CT in the Life, Health and Financial Services Department.  She then accepted a position at GE as a Financial Analyst.  Claudia was selected as an internal recruit for the prestigious Financial Management Program where she gained extensive experience in various areas including accounting, sourcing, cost estimating and project management.

Before joining Ruark, she was an integral part of a start-up small business which she successfully managed for over ten years.  In her current position, she is responsible for operations support and project management.

Eric Halpern


Ruark

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Eric Halpern is Chief Operating Officer of Ruark Consulting LLC. In this role, he leads the company’s policyholder behavioral analytics work, including industry- and company-level experience studies, predictive modeling and assumption model development, and related client projects. Eric provides leadership for these products from an actuarial, work process, and information technology standpoint.

Eric comes to Ruark with over 20 years’ experience in actuarial science, financial modeling, risk management, and investment management. Most recently, he was VP of Global Hedging Programs for White Mountains Life Re (Bermuda), a global reinsurer of variable annuity guarantees, where he was responsible for day-to-day management of the company’s financial risk mitigation program. He has also held annuity risk management positions at Phoenix and Cigna, as well as diverse actuarial staff positions at Cigna. Eric holds a BS in Mathematics from Yale University and is a Fellow of the Society of Actuaries.

In addition to his work at Ruark, Eric teaches insurance risk management in the Master’s Program in Financial Risk Management at the University of Connecticut School of Business. He lives with his family in West Hartford, Connecticut.

Judy Mason


Ruark

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Judy joined Ruark in January, 2001. As an Analyst/Manager, she handles a broad range of duties including client reporting, budgeting and financial reporting, tax filing, invoicing and banking. Before joining RIA, Judy worked at CIGNA for many years.

Judy resides with her husband, Scott, in Windsor, Connecticut

Sally Osit


Ruark

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Sally joined Ruark in July, 2001, where she focused on reinsurance program reporting, including book of business reviews, experience studies, and program renewals. Currently, as Chief Administrative Officer, she has led the administration of Ruark as it grows its consulting, reinsurance & experience studies offerings.

Sally has over 24 years of varied insurance industry experience. Prior to joining Ruark, Sally held a position of Director of Integration & Synergy with CIGNA Health Services. She also has a wide variety of both pricing and financial reporting experience, having managed cash flow testing for all of CIGNA’s pension products as well as pricing for CIGNA’s dental, COLI, and 401(k) products.

Sally is a graduate of the University of Connecticut, where she earned her BA in Actuarial Science in 1990. She currently lives in South Windsor, Connecticut with her husband, Alan, and three children.

Don Ruark


Ruark

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Don joined Ruark as our Chief Financial Officer in September 2010.

Graduated with Bachelors of Business Administration in 1977 from Eastern Michigan University.

Became a CPA in 1979.

35 years experience, including both the public and private sectors.

Don Resides in Canton MI with wife Kayla, youngest daughter Alyse, and Scout the dog.