What We Do
We build long-term partnerships with our clients and help enhance the overall value added to their business by the actuarial function. In addition to bridging resource gaps, we focus on process improvement, continuity, and knowledge development and transfer by working closely with in-house actuaries.
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Increasing emphasis on risk disclosure has changed accounting practices and created greater dialogue between accounting and Risk professionals. Reporting standards have evolved to generate more transparency in uncertainty of cashflows, allocating provisioning and granular information on financial reporting. The new regulations require previously not effected governance and controls, models and estimations and collection of additional data. This is a significant challenge for most businesses to meet. We support companies in transitioning to the new standards and provide tailormade solutions to assist them in meeting the requirements successfully.
Presently the insurance industry faces various challenges – from requiring increasingly complex models and estimations, meeting stricter regulations and assessing company experience to continuously assessing product profitability metrics. We provide our clients with expert actuarial input in Life, General and Health Insurance. Our experience in both developed and emerging markets puts us in the unique position of ensuring our clients’ expectations are met in their operating environment.
Risk culture in the recent past has seen rapid change. Developing a strong Risk Framework is essential to meeting new challenges in the management of risk. Developing such a structure requires the alignment of oversight and strategy, defining metrics, updating reporting processes and maintaining a forward outlook of economic scenarios. Further challenges in risk management are mitigating for externalities, utilizing the correct resources and effectively communicating risk measurement and its processes to all stakeholders.
Banks are exposed to a variety of complex risks. Actuaries hold skills that are well suited to meet many of the challenges facing banks. Our experience in risk management puts us in the unique position to support in assessing, monitoring and mitigating risk and implementing adequate controls. We are able to quantify the risk through developing updating and maintaining statistical and financial models. Increased regulation surrounding the Banking sector requires the use of sophisticated models which further require actuarial input.