Gravelle Promoted to Vice President-Insurance Analytics
Joe Gravelle of State College has named Vice President – Insurance Analytics for Mutual Benefit Group (MBG).
In this position, he will drive the development and maintenance of property and casualty insurance products with shared responsibilities for growth and profitability; drive pricing adequacy and support product management and compliance in the Company’s insurance business; develop assessments to monitor profitability for every line of business and state in the portfolio; develop, maintain and execute a product review schedule; and monitor regulatory actions, determine their impact to our products and implement the response.
Joe joined Mutual Benefit Group in April 2020 as the Tactical Pricing and Product Manager, bringing with him over 20 years of experience in the property and casualty insurance industry. In addition, he is a fellow of the Casualty Actuarial Society and a member of the American Academy of Actuaries. Joe also volunteers on the Casualty Actuarial Society’s Member Advisory Panel.
He began his career in 2001 with Prudential Property and Casualty, working in personal lines auto and homeowners with rotations in both reserving and ratemaking. From there, he gained experience in reinsurance with Alea North America, where he priced reinsurance treaties utilizing both experience and exposure rating techniques.
Joe also has consulting experience with Milliman, conducting a broad range of projects in general liability, excess liability, medical professional liability, educators’ legal liability, workers’ compensation, homeowners and commercial auto liability. The projects were performed for a wide variety of clients, from competitive insurance companies and joint underwriting associations to risk retention groups, captive insurance companies and self-insurance programs.
He then moved from Milliman to Petplan, where he served as director of actuarial services, managing the business intelligence team and administering the relationship with the MGA’s underwriter. He was responsible for ratemaking, rate implementation and providing the executive team with insight and vision into the business’s performance.
After that, Joe was a consulting actuary with Martin & Company, where he was the appointed actuary for one client providing the client with their NAIC Statement of Opinion on their reserves. He also provided actuarial support for countless department of insurance filing submissions and objections. He led the development of an internal peer review process and documentation standards and mentored colleagues on unique actuarial assignments.
Joe is a graduate of the Fox School of Business at Temple University, where he earned a Bachelor of Business Administration degree in Actuarial Science. He currently resides in State College, Pennsylvania, with his wife, Andrea, and their three children.