Frank Pennachio is co-founder of Oceanus Partners, a sales training and consulting organization that works with agencies to leverage technical knowledge and sales strategy into successful new business development. Pennachio brings nearly 20 years of agency ownership/management, sales training and workers’ compensation expertise to his topics.
His keen industry understanding, empathetic and humorous style and depth of technical knowledge make him a popular speaker at insurance and workers’ compensation conferences. A highly regarded expert, Pennachio is a frequent contributor to such publications as Risk & Insurance, HR Magazine, Insurance Journal and Occupational Hazards and Risk & Insurance.
The experience rating plan and corresponding experience modification factor has served as a “predictive indicator of future losses.” However, we are currently seeing individual insurance companies creating their own underwriting and pricing predictive models.