The actuarial and insurance consulting company of Kerper-Bowron took time out of their schedule to provide P&A Magazine with an overview of the company. The company specializes in evaluating property and casualty exposures, including extended warranty, vehicle service contracts, personal and commercial lines, and environmental reserving. Their client list includes insurance companies, state governments, reinsurance companies, managing general agencies, and Fortune 500 companies.
Tell us about your company and the services that you offer.
We are an actuarial firm with a strong emphasis on the F&I market. We analyze books of business to see where they are profitable. We do this both for pricing and loss reserving purposes. In addition, we help our clients file their rates with state insurance departments.
How does your service offering differ from other providers?
Our focus on F&I means that we often have more experience with these lines than other actuaries. In addition, we have invested heavily in developing advanced analytical tools to help us understand large blocks of business. We are able to incorporate more contract level data in our analysis than we have seen in other firms, which typically rely on overall averages.
Who are your target markets and what message would you like to give them?
Our target markets are generally administrators and insurance companies in this space. Our clients range from very large insurance companies to entrepreneurs. We help our clients in a wide variety of ways, from providing full analysis and loss reserving opinions to assisting their own staff with a project.
Tell us about yourself and how Kerper-Bowron was created.
John Kerper and Lee Bowron created Kerper and Bowron in 2003. We had both been company actuaries for a number of years. Consulting work has allowed us to work with great people on interesting projects.
Looking back over the past 5 years, how has the industry changed and how do you see it changing in the future?
We are seeing new products being developed for the F&I market and see this continuing in the future. There is an increased regulatory focus on the business, and this will likely continue as well. In the future, we expect to see more products developed for the “after sale” market, and more products which are paid monthly and do not have to be financed.
What services do you believe will drive your future success?
In addition to the services we currently provide, we are developing a projection system. This system will allow our clients to effectively analyze and distribute not only their current results but also a projection based on their current distribution as well as “what if” capabilities for future production.
Tell us a little more about yourself. What do you like to do to relax and what outside interests and hobbies do you have?
Since we live in the South, we are both huge college football fans. In addition, John has 4 children and Lee has 3 children, so most of our free time is spent keeping up with them.