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Actuarial & Insurance Solutions

Actuarial & Insurance Solutions (AIS) is a specialist Insurance and Actuarial Consulting team. We apply actuarial and advanced analytics skills to supply a solution. 

We provide the skills, expertise and experience to transform and grow clients in the areas of Risk Management, Business Development and Statutory Actuarial Compliance. We also assist our audit partners in the review of the actuarial liabilities shown in the annual accounts. 

Our solutions are based on the best actuarial and consulting people, techniques and thinking. These processes focus on the commercial imperatives of our clients, taking into account the related legislative and regulatory environment and the development thereof.

AIS consists of three divisions which include: 

  • Life insurance (Long-Term Insurance) 
  • Non-life insurance (General Insurance or Short-Term Insurance) 
  • Pensions (including Employee Benefits)

AIS performs a wide range of specialised Actuarial services to the life and general insurance and reinsurance industry, both within South Africa and throughout the African continent, and has experience in actuarial and risk service offerings to clients in the Middle East, Asia, Europe and the United States.

One of our key service offerings is to perform the role of Statutory Actuary. We provide this solution for a significant number of South African life and general insurers and others throughout the continent.

The statutory actuary is the principal actuary of a life insurance company. The statutory actuary is responsible for the oversight of an insurer’s financial wellbeing and continued solvency.

Another key offering is that we assist in the actuarial audit of a number of insurers for which we do not perform the role of Statutory Actuary and which are audit clients of Deloitte.

We provide specialist Advice on actuarial and related issues for clients with their own actuarial resources. We draw on our vast industry knowledge and global actuarial skills. Our specialist skills include: Product Development and Pricing, Capital Management, Reinsurance Optimisation, Statutory Compliance, Independent Review,  Strategies for Business Growth, Financial Projection Modelling, Reserving for Guarantees and Stochastic Modelling (PGN110), Asset and Liability Matching (ALM), Reinsurance Strategies, Due Diligence, International Financial Reporting Standards (IFRS) implementation, and Enterprise Risk Management (ERM).

We provide the following services for large insurance companies: Embedded Value and Appraisal Value Reviews, Merger and Acquisition Advice, Process Reviews and Risk Reviews, Gap Analysis and Training for the regulatory developments under SAM, and the implementation of SAM Pillar II (Risk Governance and Management) requirements.

We provide complete or partial outsourcing of actuarial functions, including product development, financial modeling, SAM Pillar I Quantitative Impact Studies (QIS) assessment, as well as statutory compliance for small and medium sized insurers.

We assist clients with regulatory compliance, including the assessment of Treating Customers Fairly (TCF) compliance, Micro-Insurance, and, in particular, the new Solvency Assessment and Management (SAM) system being implemented by the Financial Services Board (FSB), which is based on the international EIOPA Solvency II regime, aiming to achieve 3rd Country Equivalence for South Africa.  We are well placed in this with Deloitte representatives on almost all the FSB’s SAM Task Groups which have been set up to provide Industry Representation and assist with the development of the Legislation and Regulation around SAM.

We are able to leverage off the relationships and experience of practitioners in our international offices.

Our Non-life Insurance team boasts an in-depth knowledge of the short- term insurance industry covering motor, household/property, engineering, aviation, commercial, liability and niche insurance products. Our key areas of expertise range from traditional actuarial work to non-traditional areas. Finally, we also hold one of the few short- term insurance practicing certificates in South-Africa.

Our client base includes short term insurers, reinsurers, telecos, motor manufacturers and even parastatals. We provide services to both the local and foreign market where we are present. Importantly our client base has recently expanded beyond the insurance world into more non-traditional areas, adding to our list of non-traditional expertise.This industry includes: motor, household/property, engineering, aviation, commercial and liability insurance.

Our client base ranges from non-life insurers and reinsurers to motor and other manufacturers as well as parastatals, including both local and foreign.

The Pensions team advises a range of clients from major corporations to small companies on a variety of retirement fund matters. Our clients are both in the Public and Private Sector.

Our team provides professional and independent Advice with carefully maintained practice standards.
We are able to integrate our actuarial capabilities with strategic and operational thinking.

AIS services

  • About AIS
  • Life assurance
  • Short term insurance
  • Health care & AIDS
  • Wider fields
  • Retirement
  • Capital markets

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