Our client had selected a software provider for their IFRS 17 solution. MBE was able to reduce the total estimated spend from R40 m to R7 m.
A large South African bancassurer approached MBE to perform an impact assessment of IFRS 17 for some of their life and short-term insurance products. The main aim was to compare the calculation requirements and results of IFRS 4 and IFRS 17, under both the General Model and Premium Allocation approaches.
A global insurer was able to embed a culture of continuous improvement, with centralisation of the finance functions and a reduction of 30% in the finance reporting timetable.
Every business has a culture that runs through it and efforts to change the way a business operates must be sensitive to that culture. Managing the Cultural Change is a fundamental element to the success of any new initiative or way of working.
The actuarial team of a large UK insurer increased its capacity and reduced its operational risk by implementing a central data repository in its valuation process and altering its team structure.
A mutual insurer dramatically improved transparency across their whole Solvency II reporting process and achieved cost-saving reductions in resource requirements by implementing MBE’s proprietorial technology.
An international reinsurer reconfigured its Embedded Value process to reduce annual results production time from nine weeks to five and shift the team’s culture to one of communication and continuous improvement.