ACAS, MAAA, CERA
Managing Principal

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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.

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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.

Liquidation - Workers Compensation

Liquidation - Workers Compensation

Pinnacle was retained by the liquidator of a monoline workers' compensation carrier to estimate outstanding liabilities and provide expert testimony in support of the loss reserve estimation.

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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