Actuarial, Rewards & Analytics
Organisations are challenged with new emerging risks as they seek profitable growth and attempt to maximise the return on capital by understanding the risk adjusted opportunities to deploy the capital. Deloitte’s Actuarial, Rewards & Analytics (ARA) practitioners help business leaders make informed decisions to grow revenue, manage risk and capital, reduce operational costs, and design compensation and reward programs to address critical business, financial, and insurance challenges. We work with many of the world’s leading financial services providers in Life, General insurance, Medical schemes, Health insurance, and the Banking sector, and provide Rewards and Risk management advice to organisations from all industries and all geographies.
Analytics is typically discussed in terms of computer technology, machine learning algorithms, and big data. Behavioral nudges, on the other hand, concern human psychology. What do they have in common? Quite a bit, as it turns out.
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.
The use of analytics in HR is growing, with organizations aggressively building people analytics teams, buying analytics offerings, and developing analytics solutions. HR now has the chance to demonstrate ROI on its analytics efforts, helping to make the case for further investment.