Product Design, Pricing and Profit Testing
SolveCo has extensive experience in pricing a wide range of products in the Life, Disability and Health Insurance markets. We can assist in testing the premium rates of both newly developed and premium products for profitability to ensure the long-term profitability of your enterprise.
Actuarial Software Coding Verification
Actuarial software is used for product pricing and valuation calculations. We can independently assess the validity of any code in order to confirm its validity, and transfer code between systems and reconcile results.
Business Process Auditing and Automation
Actuarial knowledge and analysis improve higher-level processes and the effectiveness of the everyday running of insurance companies.
Simple or repetitive tasks can be automated to save time and eliminate human error. Extensive automation possibilities exist and promise significant efficiency gains.
Embedded and Appraisal Values
Embedded value is a particularly useful measure for valuing a company prior to its sale.
We can also assist potential new insurance companies with applying for a life license. The application normally requires a five-year business plan and the completion and submission of statutory forms.
Reinsurance Negotiation and Optimisation
SolveCo can arrange efficient reinsurance structures and negotiate favourable reinsurance premiums for your business.
Business experience analysis can identify trends and adjust premiums or prices in the event of adverse experience. The long-term nature of certain types of business means that the experience relating to the underlying parameters can only be estimated.
SolveCo specialises in performing experience analyses on Life, Disability and Health insurance businesses.
Marketing Material, Policy Documentation and Technical Specifications
Any product development requires accompanying documentation and marketing material such as brochures, policy documents, application forms, and technical specifications. Policy wording is important from a legal and risk management perspective. Regulation requires that policy information comply with certain minimum standards.
SolveCo can generate accurate, current policy documentation and marketing collateral.
The timing and magnitude of expected future liabilities has to be aligned with asset proceeds. Since the timing of some future liabilities cannot be known in advance, asset-liability matching is necessary in order to safeguard a business against cash flow problems and the need for expensive bridging finance.
SolveCo can apply the necessary modelling techniques to construct investment strategies that ensure optimal alignment to your company’s liability profile.