Life Insurance Consulting & Advisory Services
Team AARC has more than 15 years of combined experience in handling Actuarial work in Life Insurance Industry. We have expertise in Actuarial Modelling, Shareholder Reporting, Statutory Valuation as well as Business Planning. We are renowned for the Quality, Efficiency and Best Practices of our work. Our experience in Data Management and IT Systems Efficiency make us stand apart from our peers.
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
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
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
Prophet, Excel & VBA Modelling
- Expertise in Excel, Prophet & VBA Modelling
- Detailed documentation and thorough testing of the models & methodology
Accurate in cashflow projections to ensure appropriate valuation
Risk & Asset – Liability Management
Financial Reporting-EV, MCEV & Solvency II
- Financial reporting – Reserves, RBC, Solvency.
- Assistance and review of Financial Reporting Process
- Assistance in preparing Statutory Valuation Reports, Solvency Reports, ALM, Economic Capital, Analysis of Surplus Financial Condition Report etc.
- Review of Statutory Reports, Valuation methodology and processes
Economic Capital Modelling & Cost of Guarantee
- Vast expertise in Economic capital or Risk based capital (RBC) modelling for various companies globally.
- Expertise in calculation of Cost of Guarantee for non-participating, participating & linked businesses
Market Research & Filing
- Market research of – competitors’ product suite, customer needs, latest trends, etc.
- Preparation and Assistance in the Regulatory Filing procedure of Products.
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
Process Audit & Review
- Processes Audit to close/hedge loopholes
- Support to the management to ensure Best practices
Deterministic Analysis for Regular MIS
- Deterministic Analysis for Regular MIS reporting
- Setting up Regular Reporting Dashboards for determining Sales, Marketing, Finance, etc. performance
Man-power support/secondment of highly skilled resources
- Actuarial man power support provided on need basis and helps to meet cyclical work demands
- Addresses resource need and manage cost in Initial days of Setting up of Actuarial team
- Help you hire the right talent as per your work requirement from shortlisting candidates to interviewing and recommending
Analytics for Life 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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