Canada’s Actuarial Centre of Excellence
At Deloitte, we believe that actuaries are more than just applied insurance statisticians for pricing, risk management, and valuation. We believe that actuaries are strategically important to improving profitability, fueling growth and driving innovation.
To respond to these business imperatives for insurance companies, Deloitte’s Actuarial, Rewards & Analytics (ARA) practice has launched the Actuarial Centre of Excellence (ACE) in Kitchener-Waterloo, Ontario.
Deloitte created this Centre of Excellence as a shared facility that provides leadership, research and development, operational support, and training for the Canadian insurance industry. ACE combines Canadian-based Deloitte actuarial staff, associates, top university students and community partners. This diverse talent pool allows us to exploit diverse skillsets to achieve cost effective delivery solutions and create the environment for innovation.
How can Deloitte’s Actuarial Centre of Excellence enhance your business?
ACE is an actuarial talent and innovation hub. Its mission is to:
- Create of an incubator for innovation for the insurance industry, harnessing the skills of actuaries and turning ideas into workable solutions;
- Provide an alternative cost-effective actuarial delivery model for insurers in areas such as pricing, valuation, and model validation, enabling our clients to free-up valuable resources for other business imperatives; and,
- Develop the next generation of actuarial leadership that understands how actuarial science is used to grow their company, empower innovation, and train leaders for strategic business decision making.
Kitchener-Waterloo, a hub for innovation
ACE will be located within Deloitte’s national innovation centre, which opened in January 2018, in the heart of Kitchener-Waterloo’s Innovation District. The 195 Joseph Street office is co-located with Communitech, one of Canada’s fastest growing tech communities and largest accelerators. In 2015, Deloitte opened its innovation and prototyping hub DSpace at this location. DSpace serves to accelerate the development of emerging technologies and support companies at all stages of their testing, growth and implementation. ACE will leverage DSpace capabilities including its discovery zone and demonstration area to transform ACE concepts into tangible models that insurers and reinsurers can adopt for their businesses.
Harnessing the best & the brightest
The Department of Statistics and Actuarial Science at the University of Waterloo is home to one of the largest and most highly renowned actuarial science academic institutions internationally. The University of Waterloo offers professional masters programs as well as research-oriented masters and doctoral programs in actuarial science and finance.
Working with the University of Waterloo, ACE will employ students from both undergraduate and graduate programs to provide long-term service delivery for clients, reducing their operating costs and optimizing organizational performance. This relationship between Deloitte’s ACE and the University of Waterloo is a joint commitment to building tomorrow’s leading talent in the field of actuarial science.
Actuarial, Rewards & Analytics
Deloitte’s ARA practice is a multi-disciplinary group providing comprehensive actuarial, risk management, and advanced analytics services for life and P&C insurance companies, reinsurance companies, pension plans, captives, and other organizations. In Canada, our ARA practice consists of over 50 actuarial practitioners, part of our global network of close to 1,500 actuarial practitioners across 43 countries.