Reserves

Our experience in reserving adds value under multiple standards, their balance sheet, P&L and solvency margin.

Our interventions combine a four-way expertise: reserving methodology, product knowledge, data management experience and innovation sourced from the insurtech world.

We get involved in each stage of the reserving process:

• Reserving Guidelines: creation, application, setting up the internal control function, audit and market comparison, training to understand the actuarial production line
• Methodology: using traditional calculation methods (deterministic or stochastic) or advanced ones (machine learning) adapted to each product, flash diagnosis of used methods and setting them up, development and deployment of the internal control
• Data: data quality analysis, structuring data, relevant data enrichment, data manipulation (missing value imputation, inflation corrections, …), finding a relevant segmentation (frequency versus attrition), …
• Process & tools: assistance in the selection of a reserving software (database, computations, reporting), inhouse development of a reserving tool, audit the IT security and closing processes (included automation) and writing the reserving processes manual
• Periodical production and balance sheet steering: support actuarial teams, internal control and audit, transition management, training on tools and methodology
• Assisting the actuarial function: assisting our clients to provide reserves’ actuarial judgment, writing the actuarial function report

Finally, we also work on the future of reserving by

• Organizing on one hand a methodology and tools evolution tracker for the changes tending to emerge in order to understand these and measure their benefits in terms of steering the balance sheet
• And mostly to analyze periodically the claims management tools and new insurance products (behavioral insurance, smart contracts, …) developed in insurtech in order to measure de benefits they bring to the insurance company in general and to our clients’ actuarial production line specifically