ACAS, MAAA, CERA
Managing Principal

Send email
(309) 807-2310

Download Bio
Download CV


Download vCard

Industries

Customers

Joseph A. Herbers

Joe Herbers is Pinnacle’s Managing Principal and has over 31 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. Mr. Herbers’ areas of focus include policyholder owned group captives, large deductible and/or self-insured entities, lawyers’ professional liability carriers, Florida property writers and nonstandard auto writers.

His skill set includes loss reserving for all lines of business, hands-on interaction with policyholder-owned group captive insurance companies, networking with service providers and traditional ratemaking for all types of entities with insurance exposure. Mr. Herbers is an Associate of the Casualty Actuarial Society, a Member of the American Academy of Actuaries and a Chartered Enterprise Risk Analyst. He served as long-term member and Chair on 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.

Publications and Media

January 2018 APEX Webinar
Statements of Actuarial Opinion at Year-End 2017
Authored by Joseph A. Herbers and Aaron N. Hillebrandt.

August 2017 APEX Webinar
Actuarial Considerations for Allocating IBNR Reserves
Authored by Joseph A. Herbers and Aaron N. Hillebrandt.

See More »

Case Studies

Audit Support & Risk Transfer

Audit Support & Risk Transfer

Pinnacle provides audit support for captive insurers to a major accounting/audit firm. The audit support typically includes a review of the actuarial report and supporting documents to determine if the actuarial report adheres to professional standards and provides a reasonable estimate of held reserves. As part of this support we interact with the actuaries who developed the report in order to answer any relevant questions. Another frequent element of audit support engagements is risk transfer analysis. Pinnacle has developed a state-of-the-art approach to risk transfer modeling; our publications and presentations at industry trade shows have been well received. Ultimately, Pinnacle produces a report with relevant comments and our conclusions that provide the necessary documentation for the auditing firm.

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.

DFA Model

DFA Model

Pinnacle was asked by a regional insurer to help build a customized financial model for use in strategic decision making and in determining economic capital needs. The model reflected current and potential underwriting operations. It also incorporated economic scenario generators, capital allocation, catastrophe model results, regulatory and rating agency metrics such as risk-based capital (RBC) and Best’s Capital Adequacy Ratings (BCAR), as well as loss reserve variability. The model was designed to be used to evaluate a variety of strategic decisions, particularly related to underwriting, reinsurance, macro investment allocation, and capital allocation decisions.

Start a Conversation

At Pinnacle, we partner with you to explore whatever path it takes to find the answers you need.

Learn More


In the news

From the Blog

Events & Webinars