Actuarial consulting · Global
Actuarial consulting for insurers worldwide
Pricing, statutory valuation, IFRS 17, risk and capital, and M&A support for life, general and health insurers.
Actuarial consulting services we offer
- Pricing and product developmentNew product models, stochastic and market-consistent pricing, premium rating, loss-ratio analysis and support with regulatory approvals.
- Statutory valuation and reservingActuarial valuation of insurance liabilities: statutory, bonus and realistic reserves, analysis of surplus and stochastic reserve adequacy testing.
- IFRS 17Measurement models, assumptions and disclosures for insurance contracts.
- Statutory rolesAppointed Actuary services, subject to local regulations and the regulator's approval, as well as peer review and support to Chief Actuaries.
- Risk and capitalReinsurance optimisation, asset-liability management, economic capital modelling and dynamic financial analysis.
- Mergers and acquisitions (M&A)Actuarial due diligence, reviews of reserving methods and reserves, and embedded value comparisons of partners. Our consulting projects
What you get
- Models built to the real complexity of the product, not simplified past the point of accuracy
- Valuation and reserving results with an analysis of change
- IFRS 17 results and disclosures, with a bridge to your statutory figures
- Independent review of your models, assumptions and documentation
- Actuarial due diligence, opinions on mergers and comparisons of joint venture partners
- As much or as little support as you need, around your team's processes
How we run an actuarial consulting project
- Discovery callWe talk through what you need, your timing and who will be involved.
- Proposal and agreementWe send a proposal with scope, team, timeline and fees, and start once it is agreed.
- Project teamWe put together a project team to work alongside your actuaries.
- Shared working areaWe set up a shared area where your team and ours work together and exchange information.
- Secure handling of dataData moves through secure channels and is handled in line with the regulations that apply to it.
- DeliveryWe deliver what was agreed, with support through review and audit.
Questions insurers ask
Can you act as our Appointed Actuary or peer reviewer?
Yes. We provide Appointed Actuary services, subject to local regulations and approval by the local regulator, and we act as peer reviewer or support your own Appointed Actuary. We confirm our independence from any other work we do for you before accepting a role.
Do you work alongside our in-house actuaries?
Usually. Some insurers use us for a defined piece of work, such as an IFRS 17 model or a pricing basis; others for extra capacity at reporting dates or an independent review. We fit around your team's processes and systems rather than replacing them.
How complex do your models need to be?
As complex as the product and the rules demand. Many modern regimes call for stochastic, market-consistent modelling, and simplifying too far can give wrong results. So we build models that deal with the complexity rather than remove it, and then explain what they show in plain terms.
Which regulatory regimes do you cover?
Solvency II and similar frameworks, such as principle-based reserving and risk-based capital in the US and Bermuda's solvency regime, along with local statutory bases, and IFRS 17 for accounting. We also build economic capital models, which are an insurer's own measure of risk rather than a regulatory regime.
Can you help with planning and strategy?
Yes. We carry out market entry assessments, benchmark your products against competitors' and build business plans with solvency and embedded value projections, so you can see what a plan would do to your capital and value before you commit.
Is actuarial transformation part of this?
It is a separate service. Actuarial consulting works with your existing models and processes to answer a question, such as a price, a reserve or an IFRS 17 result. Actuarial transformation changes those models and processes, with data, AI and solutions hosted on Databricks, Azure and AWS.
Planning a project?
Arrange a call to talk through the scope, and we will reply with a proposal and timeline.