Actuarial Transformation | Deloitte Australia | Our services and solutions | Actuaries, human capital has been added to your bookmarks.
Transformation – the why and the what
Our experienced practitioners design and deliver the complex changes needed to rapidly transform into the actuarial function of the future, including changes in processes, people and systems.
Actuarial transformation delivers an exponential change in the actuarial function, resulting in:
- Improved efficiency
- Enhanced controls
- Increased effectiveness
- Improved talent management.
Actuarial 20/20 – The Power of Clarity
Transformed actuarial functions deliver benefit realisation through standardised processes in an integrated system environment. They deliver standardised reports and metrics to improve the management information needed to accelerate the close process for reporting. We assist our clients in reducing manual processing through automation and streamlining processes, leading to reduced times and improved value.
Transformation of the governance and controls of the actuarial function results in a “Single Version of the Truth” for financial information within an insurer. This reduces the risk within financial reporting and
Actuarial transformation results in
Improved talent management
By eliminating manual and painful processes, and focusing on delivering higher value for the business, transformed actuarial functions can attract, manage and develop high-performance teams. We assist our clients in providing effective talent management programs for professionals, allowing identified talent the opportunity to focus on the development of analytical skills for the future.
What to transform?
We can transform the actuarial function in multiple dimensions, covering all aspects of actuarial operations:
Organisation & Location
We often work in collaboration with wider finance or risk transformations within the insurer, thereby exponentially increasing the performance of the insurer as a whole.
Actuarial 20/20 – Transform the Actuarial Function