Actuarial & Advanced Analytics

Actuarial & Assurance

We provide a full range of core actuarial and assurance support to firms, both in the UK and globally. This includes the following services, specific to each of life, health and general insurance:

Life and Health Insurance

• Actuarial Function Holders
• With Profit Actuaries
• Solvency II internal model validation
• Training and EV reviews for life and health business
• External and internal actuarial audit support

Contacts: Tamsin Abbey and Roger Simler

General Insurance

• Lloyd’s Statement of Actuarial Opinion (SAO) for regulatory purposes
• Independent review of reserving methodologies and assumptions
• Reserving process health check
• Independent estimation, review and validation of Solvency II Technical Provisions
• Reserve uncertainty quantification for IFRS, Solvency II, ICA and capital purposes
• Solvency II internal model validation
• External and internal actuarial audit support

Contact: James Rakow

Finance, Risk and Actuarial Transformation

Due to regulatory pressures or a desire to develop and retain talent and manage costs in a competitive market, our clients may wish to improve the performance of their finance, risk and actuarial functions.

Our experienced practitioners design and deliver the large scale and complex changes needed for this sort of transformation. Our multi-disciplinary approach, combining experts from actuarial, finance, risk, technology and data management, means that we can develop and deliver whatever solution is required to meet business objectives.

Contact: Stephen Keane  

Actuarial Modelling and Technology

The role of technology is now more important than ever for actuaries. Deloitte offers a full range of technology services, both in the UK and globally, to provide clients with innovative solutions to support their finance, risk and actuarial functions. Our multi-disciplinary approach, combining experts from actuarial, finance, risk, technology and data management, means that we can develop and deliver whatever solution is required to meet business objectives.

Our AAA practice offers a wide range of services from the Actuarial Modelling Centre (AMC), our centre of excellence for modelling. The AMC formalises the Deloitte approach to actuarial modelling where we are recognised as a market leader. Our AAA practice also offers actuarial technology applications to our clients.

Contact: Marc Fakkel

M&A and Advisory

The insurance market continues to change in reaction to competition, regulation, consolidation and capital pressures resulting from SII. This has driven unprecedented levels of M&A activity and at the heart of these transactions are complex actuarial appraisals. Our highly skilled and experienced team of actuaries has a track record of delivering high quality diligence and insightful analysis both in the UK and cross border. Whether working standalone or as part of a cross functional team, our focus is on the commercial aspects of a deal delivered in a structured and disciplined way.

In addition to M&A we are involved in all aspects of corporate activity ranging from advising start-ups on their authorisation process through to providing Independent Expert services to the Courts as part of a Part VII or Schedule 5 scheme of arrangement. We have a wide range of skills relating to restructuring businesses, group capital optimisation, liquidity management and extracting value using capital markets techniques such as VIF securitization.

Contact: Richard Baddon  

Advanced Analytics

We provide clients with innovative solutions to help make insight driven business decisions.  

The Predictive Analytics Centre of Excellence (PACE) uses a variety of advanced statistical, analytical and visualisation techniques to extract commercial value from the available data; this can be applied across a wide range of business issues to give organisations significant competitive advantage.

HexScore, our telematics software, offers geospatial contexting for telematics insurance. The software reports on road risk for every road in the UK at a granular level of resolution (500 metres) through the innovative use of open data, third party proprietary data and machine learning algorithms.

Contacts: Alex Poracchia

Capital Markets Group

The Capital Markets Group is specialised in the implementation of statistical and financial models for capital markets, comprising a team who are all either quantitative experts or technology professionals. We have over 15 years of experience developing ESGs. During that time we have built up excellent credentials, consistently meeting the diverse expectations of a large client group. We have used our knowledge to build and maintain our flagship software, XSG; a cutting-edge solution designed to meet all our clients’ needs. Examples of our experience include:

• Valuation of options and guarantees embedded inside insurance contracts
• Construction and monitoring of market risk hedging programmes
• Calculation of insurer capital requirements, risk-adjusted profitability and diversification attributions
• Parameterisation of stochastically generated risk and economic scenarios covering equity markets, interest rates, credit defaults and spreads, lapses, mortality rates, expenses etc
  

Research

Members of the Capital Markets Group have produced a large volume of ground-breaking research.

Recent publications have included papers on modelling extreme market events, the cost of capital for financial firms, analysis of risks missing from capital models, principal components analysis and overlapping data biases.

Risk Advisory

The role of the Risk function in financial services companies is now more important than ever – and insurance is no different.

As a firm, Deloitte offers a full range of services to Risk functions and Chief Risk Officers covering risk strategy; governance and culture; business and operating model and data, analytics and technology.

Our AAA practice covers this range of services with a particular focus on financial risk, working closely with the Risk & Regulation practice to provide broader technical insight and experience.

Contact: Paul Coulthard

Regulatory

We are a team of regulatory experts who, in conjunction with the Deloitte EMEA Centre for Regulatory Strategy, keep abreast of the relevant regulatory developments across financial services and advise clients on what the various proposals might mean for their business – whether that be at a strategic, tactical or operational/process level.

Through our client support, as well as wider industry networking, we maintain an in-depth understanding of the different approaches being taken by firms in response to regulatory change and use this to enrich the insights we bring our clients.

Contact: David Hare