The introduction of Solvency 2 puts a considerable strain on the overheads for the smaller insurers operating in EU. By outsourcing the Actuarial Function, insurers that find it too onerous to maintain an in-house team, can meet their regulatory requirements at a lower cost and at the same time receive ongoing advisory support.
Actuarial Valuations => We can assist with your portfolio valuations. This can be your regular statutory valuations, valuations under IFRS and liability adequacy test, embedded values for management or M&A purposes or if you want an independent review of your existing valuation.
Pricing/Ratemaking => Our team has extensive experience in mathematical modelling and optimization both in the Financial and Insurance markets. Having a correct pricing strategy in today’s competitive market can make the difference for the success of an insurance organization. We can help you develop your pricing model, working in cooperation with your underwriters. Whether you are looking for simple data driven rating models or complex machine learning algorithms, we can make it happen for you.
Product development => Competitive pressures and costs exacerbate the need to launch the products which will exceed customer expectations, boost sales and improve the Company’s profitability. We can support you throughout the product development cycle from the design phase until launch, by conducting market and other research, advising on appropriate reinsurance arrangements, performing profitability analysis, developing product documentation and processes, setting up the product in the Company’s systems and carrying out the necessary testing along with the provision of training to relevant stakeholders.
Performance of experience studies and assumptions advice =>Experience studies are a powerful tool for understanding your business better and form the basis for any assumptions’ setting in actuarial valuations. Mortality experience investigations, expense studies, analysis of lapses are some of the key experience studies we can carry out for your Company.
Internal and statutory reporting including the completion of Quantitative reporting templates.
Markos has a first class honours degree in Actuarial Science from The London School of Economics (LSE), an MSC with distinction from Cass Business School (City University) and is a Fellow of the Institute of Actuaries UK since 2008. He has worked for 10 years with various Insurance companies from senior positions, such as Chief Operation Officer, Actuary, Risk Manager and Life Manager.