Insurers regularly need a sparring partner on a wide range of (actuarial) risks and their control. Deloitte Actuarial & Insurance Solutions provides specialised actuaries who can meet this need.
Deloitte’s A&EB professionals specialise in all pension related issues. Giving clients a clear picture is key. The fields in Actuarial & Insurance Solutions include:
New and more complex legal demands and regulations increasingly challenge insurance companies, gradually increasing the role of matters such as Solvency II, IFRS (phase II) and other financial reporting. These regulations strongly impact insurance companies’ design, control and organisation of the financial function. Many processes must be integrated, harmonised and standardised to comply with ever shorter reporting cycles. Deloitte A&IS supports and advises with such transformation of the financial function, as well as with related topics, like Solvency II, IFRS (phase II), Market Consistent Embedded Value (MCEV) and replicating portfolios.
Changes in the economy, politics and legislation directly affect consumers’ preferences. Insurance companies must be aware of these changes and, if necessary, they must be able to adapt their products to keep up with their clients’ wishes and preferences. Cooperation between different departments - such as marketing and actuarial - is crucial to a process like product development. Deloitte A&IS offers a services package for the entire product development process. Our topical market knowledge of the insurance industry, our actuarial background and knowledge of the financial framework and accompanying processes helps our clients achieve their goals.
The assets form the backbone of any insurer: to guarantee success an adequate assets level is essential to insurance companies. It requires frequent assessment of the available assets. Deloitte A&IS has the knowledge and skills to provide the best bespoke advice possible. Our experts’ experience in assets management and modelling this for banks, asset managers and insurance companies (life and non-life) spans many years. A significant component of our advice involves topical developments on issues regarding the assets to be held in excess of the solvency requirements, and securitisations. Our global network also ensures that we know most of the topical market developments.
As the life insurance industry clearly shows, knowledge of models is required when making MCEV calculations, when replicating portfolios and in the event of Economic Scenario Generators (ESGs). To this end, insurance companies usually use third-party software packages and Prophet is among the most extensive software packages in the market.
Deloitte A&IS is proud to be a preferred supplier of actuarial advisory services for Prophet worldwide. Our knowledge of trends and developments in the Dutch market and our actuarial background are the main reasons for this joint effort. We offer our clients actuarial advisory services such as maintenance, implementation of new products and an overall check of the models used.
Predictive modelling and portfolio analyses are key instruments in the non-life insurance industry. The management of a non-life insurer can decide its strategy when it has insight into the product portfolio’s risks. The Deloitte A&IS team assists its clients with designing the models and integrating them in the organisation and existing infrastructure.