FCAS, FSA, FCIA, MAAA
Independent Contractor and Consulting Actuary

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Steven G. Lehmann

Steve Lehmann is a Consulting Actuary with Abacus Actuarial Consulting, LLC, with over 40 years of actuarial experience. His practice includes loss reserving, ratemaking, development of pricing strategies including coordination of underwriting and rating programs, financial examinations, loss reserve opinions, rate filings, residual market studies and rate of return analysis. His skill set includes testifying before numerous regulatory and legislative bodies and before an arbitration panel on a variety of insurance matters including ratemaking, risk classification, agents’ contingent commissions and fair rates of return. He has a strong background in pricing and reserving of insurance products.

Mr. Lehmann, a co-founder of Pinnacle Actuarial Resources, Inc., retired from the firm in 2011, serving as the firm’s President from 2003 – 2008. His association with Pinnacle continues, working as an Independent Contractor from the firm’s Bloomington, Illinois office.

Mr. Lehmann is a Fellow of the Casualty Actuarial Society (FCAS), a Fellow of the Society of Actuaries (FSA), a Member of the American Academy of Actuaries (MAAA) and a Fellow of the Canadian Institute of Actuaries (FCIA). He is a past President of the Casualty Actuarial Society (CAS) and the American Academy of Actuaries (AAA) and has served as Chair of the Boards of both organizations. He has also served as Vice President and Chair of the Casualty Practice Council of the AAA and Chair of the Actuarial Standards Board Ratemaking Subcommittee. He is certified by ARIAS (AIDA Reinsurance and Insurance Arbitration Society) as one of some 400+ certified reinsurance arbitrators in the U.S.

Publications and Media

December 2012 Apex Discussion Series
Florida House Bill 119
Authored by Roosevelt C. Mosley Jr. and Steven G. Lehmann.

Impact Analysis of Florida HB 119
Actuarial Analysis Conducted by Pinnacle Actuarial Resources, Inc.
Authored by LeRoy Boison and Steven G. Lehmann.

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Case Studies

Colorado Automobile No-Fault Impact Analyses

Colorado Automobile No-Fault Impact Analyses

Pinnacle Actuarial Resources prepared an independent actuarial analysis on behalf of the Colorado Auto Insurance Working Group to determine the cost implications of changes to the Colorado no-fault law. One of the scenarios analyzed was the complete repeal of the no-fault law, replacing it with medical payments coverage.

The analysis employed data from a recent study by the Insurance Research Council (IRC) to assess the impact of a $2,500 economic loss threshold relative to BI losses. Loss and trend information from the Fast-Track monitoring system was reviewed to estimate the impact of implementing no-fault systems from other jurisdictions. Moreover, the Fast Track data was evaluated to assess the impact on costs of other jurisdictions that had previously repealed their no-fault systems.

Lastly, the indicated cost estimates for the state of Colorado were compared to those of tort states in order to assess the reasonableness of the study’s outcomes. The results from this study were used to support rate filings of several of our clients in support of the reforms.

Competitive Analysis - Personal Lines

Competitive Analysis - Personal Lines

A strong commercial lines company wanted to expand their personal lines writings in the Midwest. They wanted to have a competitive analysis system to track their competitors’ rates and review along with their latest rate change indications. Pinnacle developed a competitive analysis engine showing their competitive position including color-coded maps for a market basket of representative risks.

Underwriting & Tiering Analysis

Underwriting & Tiering Analysis

A single state auto insurance writer hired Pinnacle to address its current rating and tiering program. We removed unnecessary underwriting restrictions and more adequately priced risk classes, which allowed the insurer to experience significant, profitable growth.

When we began, the company’s existing tiering design was only based on a few factors, including ones that significantly overlapped with the rating plan. When combined with the underwriting rules, the design was punitive and limited writable business. Through predictive modeling, we helped design a new tiering structure and applied an underwriting scoring approach to eliminate rating plan overlap and remove the overly punitive parts of the plan.
 

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