Actuarial Services

People are a key factor in an insurance company's performance but one that is often overlooked. We believe that by defining a strong and nurturing culture, along with the necessary organisational structure and skills, individuals and teams can be empowered to deliver improvements and contribute value towards business objectives.

We do this by helping you to leverage actuarial potential at all levels: individual, team and organisational. We provide comprehensive support in cultivating a performance-driven culture, optimising collaboration through better organisation and fostering a growth mindset that drives sustained success. The services we offer include:

• the development and review of organisational structures;
• career progression and strategic skills development plans; and
• supporting senior management with embedding cultural change.

And in this post-pandemic world, we are helping teams to implement technologies and improve organisation in order to optimise collaboration.

Read our Guide to Actuarial Talent Management 

Ensuring consistent and reliable results, meeting quality standards, timelines and business objectives are essential for any organisation. Our team of highly experienced process engineers will support your actuarial team to develop efficient processes, streamline workflows and help to improve communication through visual timetables.

We can help you to simplify and standardise processes to enable you to quickly and easily gain control over your workflows. We will also help you to measure, monitor and report the performance of your actuarial operations. Some of the key areas that we can help you to improve include:

• baseline and actively manage the performance of all processes through a rationalised set of clearly defined KPIs;
• ensure risk management and related/dependent processes have up-to-date and user-friendly instructions and documentation;
• optimise process design to minimise operational risk; and
• standardise processes to ensure consistency within and across teams

Read our Guide to Actuarial Processes

Insurance companies are actively pursuing the consolidation and optimisation of their actuarial systems to achieve a seamless integration of risk and finance reporting while maintaining cost-effectiveness. Our focus is on the efficient provisioning, maintenance and utilisation of software applications, components and tools used in the production of outputs that enable your organisation to achieve its business objectives.

Our team of highly experienced IT professionals develop applications that are easy and intuitive to use, yet powerful enough to unlock the insights required to support business decision-making. Our expertise lies in assisting insurers in simplifying their actuarial infrastructure and attaining cost efficiency. We accomplish this by identifying opportunities to streamline or offshore/outsource actuarial and finance reporting processes and subsequently implementing them.

We offer comprehensive support in integrating a wide range of technologies. With our expertise, we will ensure a seamless integration across these critical technology domains, empowering your organisation to leverage the full potential of your data and maximise operational efficiency.  Here are the key areas we can help you with:

• data sourcing and ingestion;
• financial and capital modelling;
• warehousing; and
• analytics.

We can also support with the development and improvement of End User Applications (EUAs). We recognise the continuing importance of Excel as an actuarial EUA. Our specialist development team uses Power Query to enhance and automate data transformation and preparation within Excel.

Read our Guide to Actuarial Systems 

Insurance companies need to focus on how easy and efficient their models are to use and maintain, and how well they create accurate insights and reliable outputs that are relevant to the organisation's business needs.

Our team of modelling experts have extensive experience across all major actuarial and financial modelling platforms. Whether you need comprehensive, end-to-end managed services or one-time access to our highly skilled professionals, we are here to support you throughout the entire process of designing, building and testing your actuarial, asset and capital models. We will work with you to optimise your models to meet your specific needs and effectively support the finance, risk and actuarial functions while facilitating future scalability.

Working closely with our process engineers, we will support you with the implementation of new models into current processes with minimum disruption to current BAU activities. Our services for model development and consulting encompass:

• design and implementation of new models;
• evaluation, validation and efficient improvement of current models;
• model governance; and
• support with production runs.

Read our Guide to Actuarial Modelling

It is imperative that an organisation's data architecture and solutions are selected and applied to enable best data practices to accelerate performance and generate better business outcomes.

We can help your organisation to develop and embed a culture where actuarial and risk data is not only recognised as an important business asset, but also used at every level to improve the business.

Our team of specialised data professionals will help you to develop data solutions that make well-governed, structured and quality data accessible to your teams. We will advise you on data best practices to enable and accelerate the financial and actuarial analysis by the teams. Our key services include:

• data flow optimisation;
• self-service data interfaces and tools;
• understanding and prioritising data quality;
• developing and embedding an effective data governance framework; and
• data control operations.

Read our Guide to Data for Actuaries

It is important that insurers understand how their methodologies are deployed and that they align with regulatory requirements and support effective business decisions.

Our team of qualified actuaries have extensive technical and regulatory experience across the actuarial and risk function. We will provide technical assistance in the adoption of new standards and methodologies. We will also help you to review the accuracy and effectiveness of existing calculations and methodologies. We can support insurance companies to:

• identify the risk and limitations of adopted methodologies;
• produce effective documentation and signposting of methodologies;
• review the proportionality of adopted methodologies relative to the business objectives; and
• standardise methodologies across processes, teams and departments.

Read our Guide to Actuarial Methodologies