FCAS, MAAA
Senior Consulting Actuary

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Erich A. Brandt

Erich Brandt is a Senior Consulting Actuary with Pinnacle Actuarial Resources, Inc. in the Bloomington, Illinois office, with nineteen years experience as an actuary.

He is a Fellow of the Casualty Actuarial Society and a Member of the American Academy of Actuaries.  He currently serves as a member of the Casualty Actuarial Society (CAS) Examination Committee.

Mr. Brandt has considerable experience in assignments involving loss reserving, funding studies, cost allocation mechanisms, loss cost projections, competitive analysis, captive feasibility studies, personal lines ratemaking and financial analysis of insurance companies.

Mr. Brandt has made numerous presentations to brokers, corporate risk managers, and CFO’s regarding loss reserving, future loss projections and how their company’s characteristics impact their actuarial calculations.  He also works at length with the students and faculty at Illinois State University (ISU) by teaching class sessions on insurance operations, assisting with the compilation of data for academic research, and discussing the actuarial profession with current and prospective actuarial science majors.  Furthermore, Mr. Brandt is a member of the advisory board for the actuarial science major at ISU.

Publications and Media

2018 Risk Retention Group Benchmarking Study
2018 RRG Benchmarking Study - *Sign in required to view*
Authored by Erich A. Brandt and Gregory W. Fears, Jr. and Robert J. Walling III.

Considerations for MPL Reserves
Inside Medical Liability
Authored by Erich A. Brandt and Gregory W. Fears, Jr..

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Case Studies

Commercial Lines

Commercial Lines

Pinnacle was approached by a national insurer that wanted to develop a more sophisticated commercial automobile rating program. Their current commercial automobile plan was a traditional rating approach and did not take full advantage of driver, credit scoring or vehicle characteristics and the company felt they could take advantage of a significant opportunity in the market. Pinnacle, through the use of predictive modeling, assisted the carrier in designing a new rating and tiering structure, which included modifications of the rating plan, the introduction of underwriting scoring, and new territory definitions. This new structure allowed the company to have more precise rating, more adequate and yet competitive rates for a broader spectrum of risks.

Retention Analysis

Retention Analysis

Pinnacle was asked by a large self-insured regional transportation authority to assess the impact of increasing their self-insured retentions for both workers compensation and automobile liability. We developed a stochastic simulation analysis, based on the program’s historical claims experience and industry benchmarks, that examined not only the increase in expected losses but the program’s additional potential loss variability. Finally, we discussed with the customer the relationship between their current capital position, as well as the current reinsurance market, to ensure the retention they selected for their program was appropriate for them. The authority ultimately increased their retentions, put some of their excess capital to work, and realized substantial savings in their reinsurance costs.

Self Insured Loss Reserve Analysis

Self Insured Loss Reserve Analysis

Pinnacle was approached by a major, national manufacturer to perform a loss reserve analysis of their retained workers compensation, auto liability, general liability and products liability loss exposures. The previous actuary worked for a large broker which the customer felt presented a conflict of interest. In addition, the actuary used industry benchmarks that the customer felt did not accurately represent their loss development behavior. Pinnacle worked with the customer to better understand their loss exposures, claims handling practices, and corporate risk management philosophy. We worked with the company to gather better internal data and refine the industry benchmarks to better reflect their third party administrator, industry focus and geographic mix. These refinements, and many others, led to a more accurate analysis of the company’s retained loss exposures, a reduced provision for unpaid claims on their balance sheet, and reduced collateral requirements from their fronting carrier.

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