The insurance industry is facing great challenges and increasing regulatory requirements. These include, among others, the analysis of insurance risks, calculation of technical provisions, the calculation of capital, actuarial checks and data quality.
In addition to reviewing and developing everything from actuarial models and methods to techniques and system solutions, insurance companies also need to revise and clarify the link to strategic planning, risk strategy, product design and capital management. By doing this, companies can continue to stay competitive and ensure that the customer and business benefits are achieved, while at the same time making sure that external and internal rules and regulations are complied with.
Through independent advice we will assist with governance, assessment, management and reporting of insurance risks. We do this for all types of insurance companies, regardless of size, legal structure and insurance activities.
FCG offers broad expertise within the actuarial field.
- Corporate governance – such as risk-based management, policy documents, compliance, decision support, portfolio transfer, internal audit, change management, interim resources or outsourcing of the actuarial function.
- Risk management and control of insurance risks – such as reinsurance and risk mitigation, sensitivity analysis, stress testing and scenario analyzes.
- Actuarial calculations – such as pricing, calculation of technical provisions, the management of surplus, profitability and cost analysis, risk calculations, ALM analysis, product design, pension values.
- ORSA – such as the projection of balance sheet and statement of compliance with the technical provisions and capital requirements.
- Operational excellence – such as roles, processes, procedures and documentation, data quality and information security, system support.
- Monitoring and control – such as actuarial controls, validation of actuarial and underwriting provisions.
- Reporting – such as financial statements, reporting from operational actuary, reporting from the actuary function, ORSA, SFCR, RSR, QRT.