Actuarial, Rewards & Analytics
Deloitte’s Actuarial, Rewards & Analytics (ARA) practice is a multi-disciplinary group with a primary focus on the insurance and financial services industry. Our ARA practice provides comprehensive actuarial, risk management, and advanced analytics services for Life and P&C insurance companies, reinsurance companies, pension plans, captives, and other organizations.
Our practice supports many of the world’s leading organizations. We form partnerships with clients who recognize that keeping up with ever-changing regulatory environments, evolving customer and market needs, and emerging new technologies are an everyday challenge given the realities of their already demanding businesses. We help our clients assess their strategic priorities and then work together with them in order to maximize their efforts to increase economic value, reduce operating costs, improve processes and controls, optimize capital, and drive organizational performance.
Our Service Offerings
Examples of successful outcomes from our projects
- Understanding future claims and its drivers/patterns by building predictive models through the use of modern machine learning techniques
- Reducing quarterly valuation close times by re-engineering outdated and inefficient actuarial processes
- Advising our clients with their new market entry strategy and regulatory matters when venturing into the Canadian insurance industry
- Remediating potential regulatory oversights by drawing on our actuarial audit observations and insights
- Rebuilding our clients’ actuarial models using the latest modeling techniques and software functionality and restructuring their model governance and policies to follow leading best practices
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.