Actuarial 20/20
A corporate evolution worth realizing
Actuarial 20/20 is an offering that assists organizations and their actuarial teams in transforming and enhancing the value of the actuarial processes, systems, and people. Transformation, performed hand in hand with senior management, ultimately improves the overall value of the actuarial team as an important player in business and finance decision making.
Actuarial 2020—Four Faces
Actuarial 20/20 is tailored for actuarial teams and leverages Deloitte’s expertise in Finance Transformations. A core framework is the Four Faces of the Actuary below.
The Head of the Actuarial Team must balance the day to day operational and functional activities (Steward and Operator modes) with the longer term input into the organization’s strategy and change momentum (Strategist and Catalyst mode).
Currently, many Heads of Actuarial and their teams are operating disproportionately in the Steward and Operator modes. The work is increasingly process driven and focused on meeting regulatory requirements. There is opportunity to operate more at a strategic level with actuaries providing insight and advice to the business in addition to meeting regulatory requirements.