Solutions
Actuarial Modelling
A suitable actuarial model allows the management of an insurance company to obtain high-quality information about the portfolio and the market as a whole, which is then vital for making qualified decisions and setting a business strategy. The model has to correspond to the product portfolio of the insurance company, its customer’s specifics, and available technologies; it is advisable to regularly update the model in those areas.
A high-quality actuarial model helps the management of an insurance company stay well-informed about the portfolio and predict the impact of potential decisions or changes in behaviour. Thus, it is essential for a great many activities of the insurance company, including:
- Setting the insurance price
- Portfolio segmentation and targeting the right clients
- Profitability measurement and identification of its drivers
- Reporting according to Solvency II, capital determination and its optimisation
- Administration and optimisation of assets
- Reserving according to local laws
- Managing financial results
- Reporting under IFRS 17
Reference clients:
- Vienna Insurance Group
- Kooperativa pojišťovna
- Pojišťovna České spořitelny
- Generali Česká pojišťovna
- Ministry of Labour and Social Affairs
- Export Guarantee and Insurance Corporation
Why cooperate with Deloitte in the field of actuarial modelling?
- We will help you not only with the actual creation of the models but also with data preparation, portfolio analysis, deriving of assumptions, integration of the model into your processes, or visualisation of your results
- We will recommend and develop a suitable model reflecting your needs: offering relevant information while maintaining a balanced level of complexity and reasonable costs
- We will enhance your current model and allow you to improve the quality or increase the amount of information available for decision-making
- We will include all products into one model and allow a variability of outputs. Thus, we will ensure easy maintenance of the model and decrease future costs.
- We are working with the software of the client’s choice, such as Prophet, MoSes, RiskAgility, ReMetrica, CROS, R, Excel, etc.
Contact us
