General Insurance Consulting & Advisory Services

Our Principal Actuary has served as Appointed Actuary for 2 General Insurance firms in India. Her strong strategic skills give us an edge especially in non-conventional areas such as Crop Insurance, Credit Insurance, IT and Operational Efficiency, etc.

 

Product Designing & Pricing

  • Product Design Advise based on thorough market research of Competitors, Customer needs & Financial Viability of the product
  • Competitive Pricing of the products using robust Actuarial technique
    Experience Analysis & Assumption Setting
  • Study and Analyze the experience of your organization for Lapse, Surrender, Paid-Ups, Expense, Mortality, Morbidity, Loss Ratios etc.
  • Based on the Analysis, assistance in setting up assumptions for purposes such as Pricing, Valuation of liabilities, Financial Reporting etc.

Business Planning & Strategy

  • Assist in preparing a Strategy for Business Growth based on experience analysis, competitor study and market analysis amalgamated with Management Vision
  • Prepare Business Plan model to project Financials and Assist Management

Market Research & Filing

  • Market research of – competitors’ product suite, customer needs, latest trends, etc.
  • Preparation and Assistance in the Regulatory Filing procedure of Products.

Process Audit & Review

  • Processes Audit to close/hedge loopholes
  • Support to the management to ensure Best practices

Reserving & Capital Modelling

  • Preparation of Reserving models (Prophet and Excel) for Statutory Valuation as well as for Internal reporting.
  • Capital projection models

Statutory Reporting

  • Assistance in preparing Statutory Reports viz. Valuation Reports, Solvency Reports, ALM, Economic Capital, Analysis of Surplus Financial Condition Report etc.
  • Review of Statutory Reports, Valuation methodology and processes

Prophet GI, Excel & VBA Modelling

  • Expertise in Excel, Prophet GI & VBA Modelling
  • Detailed documentation and thorough testing of the models & methodology
    Accurate in cashflow projections to ensure appropriate valuation

Risk & Asset – Liability Management

  • Study and Analyze the experience of your organization for Lapse, Surrender, Paid-Ups, Expense, Mortality, Morbidity, Loss Ratios etc.
  • Based on the Analysis, assistance in setting up assumptions for purposes such as Pricing, Valuation of liabilities, Financial Reporting etc.

Financial Reporting

  • Financial reporting – Reserves, RBC, Solvency.
  • Assistance and review of Financial Reporting Process

Economic Capital Modelling/Risk Based Capital

  • Vast expertise in Economic capital or Risk based capital (RBC) modelling for various companies globally.

Man-power support/secondment of highly skilled resources

  • Actuarial man power support provided on need basis
  • Helps to meet cyclical work demands
  • Addresses resource need and manage cost in Initial days of Setting up of Actuarial team

IT & Other Operational Efficiencies

  • Improving operational efficiencies has been a hallmark of our Principal Actuary
  • Vast experience in liaising with IT for setting up products and Actuarial systems

Hiring/Building Teams

  • Help you hire the right talent as per your work requirement from shortlisting candidates to interviewing and recommending

Data Systems & Standardization

  • Data is an asset build today to reap enormous benefits in future
  • Provide guidance in setting up Standard data systems
  • Standardization of IT data formats & Actuarial data reports

Deterministic Analysis for Regular MIS

  • Deterministic Analysis for Regular MIS reporting
  • Setting up Regular Reporting Dashboards for determining Sales, Marketing, Finance, etc. performance

Analytics for General Insurance

  • Predictive Analysis to understand the Market needs and design the product accordingly, to help boost in sales
  • Predictive Analysis of the behavior of policies already written to help better claim management
  • Web Crawling: Using Advance Data Science Techniques to help you reduce manual efforts to gather market data and information for e.g. product details and prices of competitor.

 

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