Expert advice for accurate decision making
The Actuarial Function holder of a (re)insurer delivers statutory required advice. Our aim is not merely complying with legislation but assuring that the management and board can rely on expert actuarial advice during their decision-making process.
External or internal
The Actuarial Function can be fully outsourced to us or we can support internal Actuarial Function holders with ad hoc opinions on selected topics, e.g. reinsurance, underwriting of certain products, adequacy of technical provisions,…
In forming its own actuarial view and providing opinions, the Actuarial Function must be objective and free from influence from other functions and the board. This level of independence is not only a challenge for small undertakings but also explains why larger insurers have chosen to outsource the function. Opting for an external actuarial function ensures that the function is independent and seen to be independent, both in terms of its intellectual position and in terms of remuneration.
An additional advantage of outsourcing the Actuarial Function is the external expertise our firm can offer based on market experience. Our access to industry benchmarks allows us to recommend best practices to our clients.