FCAS, MAAA
Senior Consulting Actuary

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Pierogis and Palaces
Jan 9, 2018

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Erich A. Brandt

Erich Brandt is a senior consulting actuary with Pinnacle Actuarial Resources in Bloomington, Illinois. He has worked in actuarial consulting since 1997.

He has considerable experience in assignments involving loss reserving, funding studies, cost allocation mechanisms, loss cost projections, competitive analyses, captive feasibility studies and financial analyses of insurance companies.

Mr. Brandt has made numerous presentations to brokers, corporate risk managers, and CFOs regarding loss reserving, future loss projections and how company characteristics impact actuarial calculations. He currently serves as a member of the Casualty Actuarial Society (CAS) Examination committee.

Mr. Brandt also works with students and faculty at Illinois State University (ISU). He engages in joint research and speaks at actuarial club and the Katie School of Insurance & Risk Management functions.

Mr. Brandt has served as an industry expert on several panels and educational forums including the CAS, Katie School of Risk Management Academy, the Insurance Managers Association of Cayman, ISU and Staffing World – Risk Control Workshop.

Mr. Brandt is a member of the advisory boards for the actuarial science major at ISU and the Milwaukee School of Engineering. He is also on the board of directors of the Illinois Shakespeare Festival.

Publications and Media

July 2020 APEX Webinar
Causes of Recent Reserve Development
Authored by Erich A. Brandt and Gregory W. Fears, Jr..

December 2019 APEX
Three Perspectives on Peer Review
Authored by Erich A. Brandt and Darcie R. Truttmann.

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Case Studies

Cayman Captive

Cayman Captive

Pinnacle serves many of the largest group captives in the world, many of them domiciled in the Cayman Islands. These reserve analyses are typically produced twice a year and serve multiple purposes. First, they provide a range of reasonable estimates which management uses to determine their best estimate of ultimate losses and unpaid claims liabilities. Second, these reserve estimates can then be allocated to individual members to determine the outstanding liabilities and potential future assessments, if any. Finally, the allocated ultimate losses become the basis for renewal pricing estimates for each member. Pinnacle’s approach to estimating and allocating reserves in group captives is unique in the industry and sets our alternative practice apart with its efficiency and accuracy.

Funding Study

Funding Study

Pinnacle was approached by an aircraft manufacturer to provide recommended funding for various aviation and liability coverages. Pinnacle’s initial steps included discussing coverages to be provided and what data was available to complete the funding study. The captive was a start-up with no loss information on which to determine appropriate funding levels. Pinnacle was able to determine that the National Transportation Safety Board (NTSB) had a database of aircraft incidents that recorded both the manufacturer and model of the aircraft involved in the incident. Since the manufacturer was able to provide the number of units produced, Pinnacle was able to determine the frequency and severity of the incidents and project ultimate funding levels. The captive is currently operational after receiving regulatory approval.

Staffing Self Insured Reserve Analysis

Staffing Self Insured Reserve Analysis

Pinnacle was retained by a group of staffing companies with large self-insured retentions for their workers compensation loss exposures to perform quarterly loss reserve analyses and annual funding studies. Pinnacle initially used customized benchmarks for the staffing as the basis for our analyses. However, it became apparent that the benchmarks were not reflective of the unique characteristics of this program. Pinnacle worked with the third party administrator (TPA) for the program to gather additional historical experience for the program, as well as consolidated experience for several similar programs administered by the TPA. Using the results of our analysis of the TPA’s previous experience for this program and others like it, we were able to develop benchmark loss development assumptions that tracked much more closely with the program’s actual loss emergence.

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