Life Insurance Actuarial
Comprehensive solutions for complex problems
Life insurers are continually looking for ways to adapt and improve their processes and businesses to meet the realities of today’s complex, competitive environment. Deloitte’s Life Insurance Actuarial practice helps insurers stay ahead by providing industry-leading insights and solutions to address a variety of challenges.
Deloitte’s Life Insurance Actuarial practice
Our services cross a broad spectrum of functions—actuarial, risk, sales, finance, and corporate—integrating our practice’s specialized actuarial and insurance experience with that of Deloitte’s Risk, Advisory, Technology, HR, Accounting, and Finance practices. This multidisciplinary perspective means we can offer out-of-the-box ideas along with the depth and breadth of resources to help you implement them.
Our Life Insurance Actuarial professionals regularly work with our clients on:
- Actuarial model development
- Actuarial organization design
- Appointed actuary work
- Asset-liability management
- Assumption development and experience studies
- Capital management
- Change management
- Enterprise risk management
- Financial reporting and valuation
- Forecasting and projections
- Pricing and product development
- Regulatory readiness
We address specific life insurer needs through four integrated service offerings
Actuaries’ role in the organization has evolved in recent years; it is no longer sufficient to carry out the same duties in the same way. Senior management increasingly expects the actuarial function to be a strategic leader that can drive and inform business-critical decisions. Deloitte’s Actuarial Modernization group can help insurance organizations meet these higher expectations through a structured assessment and transformation of their actuarial processes, systems, governance, and talent.
Challenges related to a changing economy, evolving regulatory considerations, and a complex technology landscape are driving important evolutions in the capital and risk space, ranging from risk modeling and reporting to an operating model that embeds risk and capital metrics across pricing, treasury, ALM, and other components of the firm.
Life insurers are challenged to offer a range of products and an overall customer experience that is competitive and intriguing to maintain current customers, innovative to attract new customers, cost-effective to deliver, and profitable to sustain. Deloitte’s Life Operations group assists insurers in developing and delivering core products as well as enhancing their overall product and customer operations.
Because the life insurance industry operates within a continually evolving regulatory framework, actuarial professionals must evolve as well. Our Life Actuarial practitioners are active in industry organizations and are able to leverage the capabilities of the broader Deloitte organization’s position as a Big 4 accounting firm to help our clients' be attentive to and tackle new and complex issues.