Looking Back and Moving Forward
Joe Herbers

Looking Back and Moving Forward

Joe Herbers December 30, 2019 Posted in: Blog Posts, General, News

As you may know, January is named for Janus, the Roman god of beginnings, endings and transitions. Janus is typically represented as having two faces—one face focused on the past with the other turned forward to the future.

Janus, and January, remind us of the value of reflecting on the past, to acknowledge all we’ve accomplished and to celebrate how far we’ve come. 

We are finishing our 17th year as Pinnacle Actuarial Resources, although we’ve played a major role in the profession much longer with our predecessor organizations. In fact, eight of our actuarial professionals worked together for more than 20 years, and have made countless material contributions to the growth and success of Pinnacle’s clients and our profession.

But the last decade has been a truly exceptional time for our firm. 

In 2009, we designed and began implementing a new, vision- and values-focused Strategic Plan, refined and revised annually and deeply rooted in our commitment to our people, clients and profession. And while we purposefully did not mention growth in our 2009 Strategic Plan, Pinnacle has grown accordingly, alongside our clients and the industry.

Since 2009:

  • Pinnacle increased the number of our full-time employees 65%, to approximately 75 in 2019.
  • We grew our number of CAS-credentialed actuarial professionals from 14 to 35.
  • We increased our national footprint, expanding from two offices to four with one on each coast.
  • The number of clients we serve has increased over 43%.
  • We have more than doubled our annual revenue.

Part of our renewed commitment in 2009 was to help advance our industry. Since then, we’ve worked to share the exceptional voices, ideas and innovations of Pinnacle’s talented people. In 2009, our consultants did not publish in social media, speak as frequently at conferences or attend trade shows and professional meetings. 

In 2019, however, we published 22 blogs by 28 authors. We collaborated and engaged with attendees at 65 trade shows and professional meetings. 

Also in 2019, our APEX webinar celebrated its 14th consecutive year of providing free, high-quality continuing education opportunities for those in our industry. 

As extraordinary as the last year and decade have been, we are looking forward with excitement and enthusiasm to what’s next, and all the good things that lie ahead for our firm.

Immediately, our industry will need to acknowledge and accommodate regulatory changes, economic uncertainty and an upcoming, certain-to-be-contentious national election.

Longer term, technology will continue to heavily influence and shape the insurance, actuarial and consulting industries. An explosion of data, increasing sophistication of artificial intelligence and the rise of the internet of things will bring a seismic shift in how we live, work and do business.

These short- and long-term challenges and opportunities make me bullish. And it’s our great past that makes me so very confident about our bright future.

Pinnacle has a long and proud history of delivering exceptional service by leveraging outstanding communication and enabling decision-making with leading-edge expertise. That success is why I look forward so assuredly. We are building upon an extraordinary foundation. Our talented people will continue to exceed challenges and maximize opportunities for our clients, in good times and bad, in almost every circumstance and in the face of deep and enduring change.

My heartfelt thanks to Pinnacle’s wonderful people and to the clients and colleagues who have helped write the last decade of our great story. We look forward to the next ten years and writing our next chapter together. 

Here’s wishing you a happy, healthy and safe New Year.

Joe Herbers is Pinnacle’s Managing Principal and a Consulting Actuary with over 30 years’ experience. His practice focuses on providing loss reserving and funding studies for a wide variety of entities – both traditional insurers and alternative markets. Joe’s specialties include policyholder-owned group captives, large-deductible and/or self-insured entities, lawyers’ professional liability carriers, Florida property writers and non-standard auto writers in the state of Illinois. Joe is an Associate of the Casualty Actuarial Society (ACAS), a Member of the American Academy of Actuaries (MAAA) and Chartered Enterprise Risk Analyst (CERA). He served as long-time member and Chair of the American Academy of Actuaries Committee on Property Liability Financial Reporting (COPLFR) as well as several other professional committees. He is a regular speaker at industry events.

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