The actuarial function is a core component of any insurance operation. Retirement benefit is also typically part of an essential package of employee benefits. In these areas, actuarial capability is required. Actuaries also expand their quantitative skills into the advanced data analytics to provide insights into underwriting, claims management, risk management and human resources management.
Insurance business deals with complex risks to provide protection, savings and investment services to organizations and individuals. It is a key pillar to the social financial stability. To manage the risks being transferred to insurance institutions, actuarial science and techniques are developed.
Over time, regulators around the globe are placing more and more stringent requirements on insurance industry. Hence insurers are also demanding more and more actuarial capabilities. We bring to the clients our deep specialized knowledge in the areas of pensions, actuarial and insurance solutions. Our professionals work with life, property & casualty insurance companies, health plans, and health care providers to modernize their operations, in particular financial reporting, and to manage risks. We work with non-insurance companies to better manage the risk of their self-insured pools. We also help clients identify risks and value in insurance targets in the situation of merger and acquisition.
We are also using modern technology and techniques to drive insights out of the vast amount of data that financial services institutions have gathered to help them improve business performance and manage risks.
When you work with Deloitte’s Actuarial professionals, you will see we are practical and drive to deliver results.