Author Archives: Ben Herrett

Why structured assessment is critical to sustained actuarial performance improvement Introduction Throughout this series, we have explored why actuarial modernisation so often falls short of expectations. We have seen that the challenge is rarely a lack of investment, capability or technical expertise. More often, it stems from the way improvement is approached. Actuarial performance is […]

A structured view of actuarial performance Introduction By this point, most actuarial leaders recognise that improving performance is not simply a matter of upgrading systems, improving data or enhancing models. The challenge is rarely identifying opportunities for improvement. The challenge is understanding how those opportunities relate to one another and where effort should be focused […]

Why some actuarial functions improve more effectively than others Introduction High-performing actuarial functions are not defined by the absence of complexity. They operate within the same constraints as other functions: legacy systems, regulatory pressure, increasing data demands, evolving business expectations and ongoing pressure to deliver more insight, more quickly. The difference lies in how they […]

Why investment doesn’t always improve actuarial performance Introduction Actuarial modernisation has become a strategic priority across the insurance industry. Increasing data volumes, evolving regulatory requirements and the growing demand for forward-looking insight have placed greater pressure on actuarial functions to improve how they operate. In response, many organisations have invested significantly in modernisation initiatives. Systems […]

It’s not a lack of activity. It’s a lack of coordination. Introduction While the challenges within individual areas of the actuarial function are often well understood, improving overall performance remains difficult. This is rarely due to a lack of activity. In many insurance companies, significant effort and investment are already underway. The difficulty lies in […]

Optimisation isn’t enough. Alignment is what matters. Why Focusing on Individual Components Falls Short Actuarial performance is often assessed by looking at individual parts of the function. Systems are reviewed for efficiency. Models for accuracy. Data for quality. Processes for timeliness. Each of these matters. However, assessed in isolation, they only tell part of the […]

The real issue isn’t capability. It’s how everything fits together. Where Complexity Comes From In many organisations, systems are implemented independently of how work is actually performed. This creates gaps between components, which are filled with manual workarounds. Processes then adapt to accommodate these limitations. Additional steps are introduced to bridge systems, manage data issues […]