Chad Covelli
Chief Operating Officer at Rockingham Insurance- Claim this Profile
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Topline Score
Bio
Justin Cruz
I’ve worked with Chad for many years, and have a very healthy respect for him personally and professionally. He brings a combination of strong technical and people skills, along with a critical business mindset, that makes him a great leader. What also sets Chad apart is managing effectively through uncertainty, with agility and urgency, and a keen ability to see through 'clutter' to arrive at decisions, making him a go-to team member for challenging tasks. Chad is a genuine and thoughtful person that instills trust and commitment in those around him, and also just a great guy to work with, making him a welcome addition to any leadership team.
Stefan Bauer
I have known Chad for a few years and can honestly say he is one of the rare people that not only understand strategic direction, but also have the ability execute. Chad is able to build relationships with those around him, rises to any challenge, and has the humility to know when to ask for help. Chad has fantastic analytical skills, but above all else he is a member of the team as he lifts those around him up.
Justin Cruz
I’ve worked with Chad for many years, and have a very healthy respect for him personally and professionally. He brings a combination of strong technical and people skills, along with a critical business mindset, that makes him a great leader. What also sets Chad apart is managing effectively through uncertainty, with agility and urgency, and a keen ability to see through 'clutter' to arrive at decisions, making him a go-to team member for challenging tasks. Chad is a genuine and thoughtful person that instills trust and commitment in those around him, and also just a great guy to work with, making him a welcome addition to any leadership team.
Stefan Bauer
I have known Chad for a few years and can honestly say he is one of the rare people that not only understand strategic direction, but also have the ability execute. Chad is able to build relationships with those around him, rises to any challenge, and has the humility to know when to ask for help. Chad has fantastic analytical skills, but above all else he is a member of the team as he lifts those around him up.
Justin Cruz
I’ve worked with Chad for many years, and have a very healthy respect for him personally and professionally. He brings a combination of strong technical and people skills, along with a critical business mindset, that makes him a great leader. What also sets Chad apart is managing effectively through uncertainty, with agility and urgency, and a keen ability to see through 'clutter' to arrive at decisions, making him a go-to team member for challenging tasks. Chad is a genuine and thoughtful person that instills trust and commitment in those around him, and also just a great guy to work with, making him a welcome addition to any leadership team.
Stefan Bauer
I have known Chad for a few years and can honestly say he is one of the rare people that not only understand strategic direction, but also have the ability execute. Chad is able to build relationships with those around him, rises to any challenge, and has the humility to know when to ask for help. Chad has fantastic analytical skills, but above all else he is a member of the team as he lifts those around him up.
Justin Cruz
I’ve worked with Chad for many years, and have a very healthy respect for him personally and professionally. He brings a combination of strong technical and people skills, along with a critical business mindset, that makes him a great leader. What also sets Chad apart is managing effectively through uncertainty, with agility and urgency, and a keen ability to see through 'clutter' to arrive at decisions, making him a go-to team member for challenging tasks. Chad is a genuine and thoughtful person that instills trust and commitment in those around him, and also just a great guy to work with, making him a welcome addition to any leadership team.
Stefan Bauer
I have known Chad for a few years and can honestly say he is one of the rare people that not only understand strategic direction, but also have the ability execute. Chad is able to build relationships with those around him, rises to any challenge, and has the humility to know when to ask for help. Chad has fantastic analytical skills, but above all else he is a member of the team as he lifts those around him up.
Credentials
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Fellow, Casualty Actuarial Society (FCAS)
-Nov, 2006- Nov, 2024 -
Chartered Property and Casualty Underwriter (CPCU)
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Member of the American Academy of Actuaries (MAAA)
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Experience
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Rockingham Insurance
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United States
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Insurance
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1 - 100 Employee
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Chief Operating Officer
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Jan 2020 - Present
Chief Actuary overseeing data analytics, pricing, compliance, and product management as well as Commercial and Personal Lines P&L, sales, distribution and underwriting
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Vice President - Insurance Analytics
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May 2018 - Jan 2020
Insurance Analytics Chief Actuary Product Development Ratemaking Reinsurance Board of Directors - Highway Loss Data Institute.
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Elephant Insurance
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United States
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Insurance Carriers
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200 - 300 Employee
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Head of Claims
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2017 - 2018
Head of Operations for Virginia Claims; mentoring youthful members of management and staff. Member of Senior Leadership Team, supporting actuarial functions where appropriate. Leadership for all auto claims from liability to physical damage; spending significant time during short tenure in role to learn and perform adjuster functions. Worked closely with Texas Claims leadership to help develop Dallas regional office. Highly effective recruiter for young, rich talent during entire… Show more Head of Operations for Virginia Claims; mentoring youthful members of management and staff. Member of Senior Leadership Team, supporting actuarial functions where appropriate. Leadership for all auto claims from liability to physical damage; spending significant time during short tenure in role to learn and perform adjuster functions. Worked closely with Texas Claims leadership to help develop Dallas regional office. Highly effective recruiter for young, rich talent during entire Elephant tenure. Key leader in driving significant loss ratio improvements, leveraging experience as Chief Actuary. Licensed Texas adjuster.
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Chief Actuary & Head of Pricing
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2015 - 2017
Chief Actuary responsible for presenting all pricing, reserving and actuarial work products, working in concert with senior leadership and key business partners. Strategic member of the senior leadership team providing insight into loss projections but also driving non-pricing changes such as claims improvements and underwriting procedures; reporting directly to the CEO. Under my leadership, improved company loss ratio by double digits while growing the auto insurance portfolio… Show more Chief Actuary responsible for presenting all pricing, reserving and actuarial work products, working in concert with senior leadership and key business partners. Strategic member of the senior leadership team providing insight into loss projections but also driving non-pricing changes such as claims improvements and underwriting procedures; reporting directly to the CEO. Under my leadership, improved company loss ratio by double digits while growing the auto insurance portfolio 40%. Worked with the Highway Loss Data Institute and other data vendors to utilize new data sources in pricing.
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American Family Insurance
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United States
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Insurance
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700 & Above Employee
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Auto Pricing Director
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2012 - 2015
Director of Auto product lines responsible for the ratemaking procedures for 19 states, including predictive analytics for new products. Product lines included $3b+ Auto book, Umbrella, Motorcycles and other specialty personal lines products. Key leader assigned to organizing and implementing new state and new program pricing. Board of Directors for Highway Loss Data Institute, working with CEO while he represented the Insurance Institute for Highway Safety.
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Staff Actuary - Homeowner Lines Manager
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2008 - 2012
Personal Lines Property Pricing Management, New Product Development, Underwriting Rule Development
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Staff Actuary - Specialty Lines Manager
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2006 - 2008
Pricing management for Umbrella, Boats, Snowmoblie, Misc Vehicles and Mobile Homeowners product lines
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Sr Actuarial Analyst / Assistant Actuary
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2001 - 2006
Auto Pricing, Ratemaking, Predictive Analysis Development
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Farm Bureau Financial Services
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United States
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Insurance
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700 & Above Employee
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Actuarial Analyst
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1999 - 2001
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Education
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1995 - 1999
Drake University
Bachelor of Science (BS), Actuarial Science & Insurance
