ACTi offers a range of actuarial services including capital & risk management, pricing, reserving and beyond. We believe that actuarial work should be business focused so that there are clear advantages to be gained for the company. Even where there are statutory or regulatory requirements for an actuarial opinion we will deliver advice that will have direct benefits to our clients.
Our clear aim is to understand our client's business and to make recommendations that are communicated clearly so that improvements to the business can be implemented effectively.
Pricing & New Product Design
With increasingly sophisticated markets, having the appropriate tools and relevant experience is essential to gaining a competitive advantage. Effective pricing is critical to maintaining long-term profitable business and the support of those taking the risks.
We understand the synergies to be gained from combining the collective skills of the underwriting, claims and actuarial areas. Our advice is based on experience from working with many insurance professionals across all parts of the insurance cycle. Applying a range of stochastic and deterministic techniques to experience and exposure based analysis we can offer extensive advice across all insurance classes and products on inwards and outwards business.
We can deliver a complete service for the successful launch of new products. This will include the design, planning, development and launch of the product.
Capital & Risk Management
The deadline for Solvency II is rapidly approaching and there is still a lot to do for firms to ensure they are in the best position to operate within the new regulatory framework.
We have a gained a vast range of experience working with and advising firms with their Solvency II projects. Specific projects have included internal model validation, building standard formula models, calculating USPs, drafting FLAORs / ORSAs, calculating technical provisions and more generally we have helped advise firms with their overall risk management framework to effectively manage all three Pillars of their Solvency II project.
We are in direct discussions with the regulators to understand the implications for firms and the various milestones on the critical path to successfully embed the standards and appropriate risk management techniques into the business.
We have had many years’ experience developing capital models and risk management strategies for insurance firms and previously we have been directly responsible for the ICA process within insurance firms.
Firms that adopt their own internal models are expected to benefit from doing so relative to the “standard approach” and in achieving this will therefore demonstrate that the firm’s risk management platform would be operating to appropriate industry standards.
In addition to the core actuarial services we have significant practical experience of working within insurance
companies and advising clients with the following areas:
We understand the technical challenges of the business and the respective demands of all stakeholders in making an assessment of the outstanding liabilities. We consider a reserve valuation as an opportunity to carry out a thorough business review in order to promote effective management of the existing business and to facilitate successful future business opportunities.
Our approach to a reserve review is far from a just a technical exercise of data analysis but a thorough assessment of underwriting exposures and claims evaluation in order to understand the nature of emerging liabilities.
Our methodology allows the appraisal of retrospective information to facilitate informed decisions about prospective business strategy.
Reinsurance evaluation and optimisation
Run off, merger and acquisitions, Part VII Transfers
Internal audit and external audit support
Training staff, management teams and non-executives
Business planning and KPI / management information
Claims and underwriting reviews