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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