CONSULTANCYWe help insurance companies streamline their workflows with single point of data entry
Consultancy for insurance companies
We work with insurance companies who are ready to create consistency and efficiency in their processes today.
Every insurance company wishes for a single data entry point and end to end systems that capture all exposure data and that links to claims, finance and underwriting systems.
Many delay this business objective on the basis that is too complicated, too expensive and not a business priority because they can get by with what they have.
We work with insurance companies that are ready to create consistency and efficiency in their processes today. We bring to the table a multi-disciplinary team of actuaries, database architects and programmers that offer a unique combination of skills that facilitate collaboration between all areas of the business.
We analyse existing workflows, systems and pricing framework (if any) and we present recommendations to create a seamless workflow with single data entry point and synchronisation of existing or new systems.
If you are interested in a no-obligation demo of one of our prototype pricing platforms simply get in touch.
From one-off projects to continuous support, we help insurance companies streamline their processes creating consistency and efficiency:
Design and implementation of technical pricing frameworks
We work with newly formed and established companies reviewing, enhancing or designing from scratch their technical pricing framework to create a consistent approach across the company.
Design and implementation of end-to-end systems
Design and implementation of end-to-end systems that host the technical pricing models and that eliminate wasteful repetition of data entry while systematically capturing in a database all the relevant exposure information.
We work with clients in the automation of management reports for internal and external use including rate monitoring and rate adequacy that comply with Lloyd’s minimum underwriting standards.
We work with clients dicing and slicing their books of business to analyse profitability performance of key segments and to derive pricing strategies in a very competitive market.
Company-wide technical training
Our courses allow insurance professionals to understand how data and assumptions flow through all areas of the business.
Nowadays actuaries are involved in all areas of the business and have to communicate complex concepts to insurance professionals who do not have an actuarial or mathematical background.
Every day more and more insurance professionals who interact with actuaries want to better understand the numbers presented and how actuaries arrived at these.
Our technical courses are uniquely designed for insurance professionals who would like to enhance their understanding of how the 5 R’s of insurance operations work: Rating, Reporting, Reserving, Reinsurance and Risk.
I found the course extremely useful. Very clear and practically focused – certainly helped to demystify many actuarial concepts. Thank you Ana!
We work with insurance professionals from all areas of the business: underwriting, claims, finance and accounting, internal audit and compliance, IT, human resources and actuarial providing tailored technical training that allows all parties to understand how all aspects of the business fit together. Our training courses increase communication and collaboration among departments of insurance companies.
We offer courses in the following areas:
Very interactive, excellent knowledge from the presenter and easy to follow. She answered all our questions and the whole course was very informative and relevant.
Basic statistics for insurance professionals: this course demystifies statistical concepts used in insurance.
Fundamentals of insurance pricing: this course is an introduction to the complex world of insurance pricing.
Basics of claims reserving methods: this course provides a foundation for those who want to understand how actuaries arrive at their best estimate of reserves.
Reinsurance pricing in practice: this is an ideal course for reinsurance professionals who want to better understand the mechanics of pricing.
Basic actuarial concepts for non-actuaries: this course provides a thorough introduction to all aspects of actuarial work.
Solvency regulation and capital requirements: this course is ideal for those who are involved in risk management and capital modelling.
Actuarial training and coaching
Knowledge sharing is at the heart of our operations. Every year we train hundreds of insurance professionals in all areas of the business.
Knowledge sharing is at the heart of our operations. We do not see sharing our knowledge and expertise as potential loss of future business opportunities.
When we consider that it is in the best interest of our client to take ownership of a project internally and retain the intellectual property, we offer our training and coaching services to their actuarial team.
Our training and coaching services for actuaries are ideal for busy teams who find it difficult to fit in highly important projects that are not urgent compared to the strict deadlines of reserving and capital modelling.
We work with the actuarial team throughout all the phases of the project starting by providing the technical foundation required of the methods to be implemented. We then outline the stages of the project, set weekly targets and identify final deliverables. During the project, we regularly meet with members of the actuarial team to check progress and discuss issues faced; throughout the project they also have access to us on by e-mail and telephone. We peer review their work and test the final product before being signed off.
The benefits of this approach to consultancy and coaching are endless:
Great knowledge. Very helpful. Comprehensive material. Learnt a lot and am inspired to continue and learn more. Thank you!
Really practical – not like many other actuarial based training. You will really get down to the nitty gritty.
Efficient use of time as members of the team have access to an expert resource that can lead them during the project saving time researching and testing.
Junior members of the team have the opportunity to work on interesting projects that otherwise would be outsourced to external consultants. This increases job satisfaction and staff retention.
The company retains the technical skills and intellectual capital acquired by members of their actuarial team for future projects.
All members of the actuarial team benefit from the initial technical training provided often allowing them to earn CPD credits for qualified actuaries.
Actuarial managers have peace of mind that someone with the right experience is overlooking the project so that they don’t have to worry about fitting something else in their already busy schedule.
Cost effective solutions that are easy to get buy-in for and easy to budget as there is often a pre-agreed fixed fee instead of the risk of escalating hourly fees.
Get In Touch
16 Pepper Street, London E14 9RP
+ 44 (0)20 7510 9690