Client

A large UK insurance company wanted to develop a strategy that would accelerate the performance of their actuarial operations.

Challenge

The actuarial team needed to continue to deliver BAU and meet their ever demanding reporting and valuation cycles, but this left the leadership team with little time to focus on devising a strategy to drive change.

The client wanted a partner who understood the insurance sector and the actuarial function at a granular level.

Approach

Phase One – Complete APM assessment 

The initial phase of our work involved a comprehensive analysis of the client’s current actuarial performance. We conducted a thorough examination at both individual and organisational levels to provide a detailed diagnostic report.

Through this analysis, we identified the key enablers and their associated success factors, determining their impact on the client’s actuarial performance. Following discussions with the client regarding their objectives, we recommended focusing initially on processes and data to drive visible and sustainable improvements.

Phase Two – Results analysis 

Utilising a combination of quantitative and qualitative methodologies, our team meticulously analysed the client’s actuarial performance. By examining various factors influencing performance, we aimed to provide actionable insights for improvement aligned with the client’s objectives.

Results

Building upon the insights gathered in phase one and two, we developed a roadmap tailored to the client’s specific needs. This roadmap outlined a clear path forward, incorporating quantifiable objectives and strategies to enhance actuarial performance over the short, medium and long term. By synthesising the findings from our assessment, we provided the client with a strategic framework designed to drive tangible improvements and sustainable success.

Testimonial

“The team at MBE Consulting, by using the APM Assessment,were able to cut through the complexities that were hampering our thinking and provided us with a straightforward path to making achievable, productive changes to our performance.”

Head of Actuarial