ACAS, MAAA, CERA
Managing Principal

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Joseph A. Herbers

Joe Herbers is Pinnacle’s managing principal with more than 35 years of consulting experience. His practice is concentrated in providing loss reserving and funding studies for a wide variety of entities – both traditional insurance companies and alternative market entities. Joe’s areas of focus include policyholder-owned group captives, large deductible and/or self-insured entities and public entity pools.

His skill set includes loss reserving for all lines of business, hands-on interaction with alternative market entities, networking with service providers and traditional ratemaking for all types of property/casualty insurance exposure. Joe serves on the Employers Advisory Committee of the Casualty Actuarial Society (CAS) and was a long-term member and chair on the American Academy of Actuaries (AAA) Committee on Property Liability Financial Reporting (COPLFR). He is a regular speaker at industry events.

Publications and Media

September 2020 APEX Webinar
Group Captives 101
Authored by Joseph A. Herbers.

January 2020 APEX
Statements of Actuarial Opinion at Year-End 2019
Authored by Joseph A. Herbers and Aaron N. Hillebrandt.

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Case Studies

Claims

Claims

Pinnacle was approached by a regional insurer that wanted to develop a predictive model that estimated the time that a claim would be open based on what is known at the first notice of loss. The company felt like this would allow them to more effectively manage their caseload and handle claims more proactively. Pinnacle, through the use of predictive modeling, assisted the carrier in designing a model which predicted cycle time based on the FNOL. Not only did this give the company a better understanding of its claims, but also assisted them in understanding their claims data better and improving their data collection.

Company Valuation Model

Company Valuation Model

An international financial services holding company wished to become the sole owner of a company in which they had a substantial minority interest. One of our consultants designed a stochastic valuation model projecting dividend streams several decades into the future. One of the more interesting features of this model is that it did not merely arrive at a point estimate of the value of the firm but applied various assumptions to calculate a range of values. The assumptions were discussed in advance with management and the model produced a probability distribution of the value of the firm. This allowed the client to determine the likely return for a given purchase price, improving the decision making process that led to the holding company obtaining full ownership of the subsidiary.

Rate Indications / Filings

Rate Indications / Filings

A regional carrier came to Pinnacle wanting to implement an insurance score program along with rate indications for home, auto and farm. Pinnacle developed rate indications for each line, and developed an underwriting scorecard rating approach using insurance score as a critical component. The combination of implementing appropriate rates and the new rating plan enabled this company to turn their business around, become profitable and rebuild their surplus position.

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