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General Insurance

At QED, we understand that the general insurance market is very competitive in pricing, product innovation and client services. In a market undergoing development and forced to compete for clients and talent, regulatory changes and technological developments are important drivers just as they are in other facets of the insurance industry.

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We offer comprehensive solutions and support to insurance companies to enable them to tackle the challenges they face and capitalise on the opportunities in the market. We provide the full range of actuarial services to our clients, including those for actuarial control functions, and support the development of clients’ actuarial skills.

Actuarial Modelling of Balance Sheet and Technical Provisions

Valuation of technical provisions is an essential input in understanding the performance of an insurer and its financial position. We employ deterministic and probabilistic techniques in modelling liabilities, analysing exposure of liabilities to market sensitivities and building asset-liability management frameworks to inform investment strategy. QED supports clients in many jurisdictions with their regulatory returns and solvency assessments and we build stochastic models to analyse and optimise reinsurance structures.

Actuarial Control Function

Since the introduction of SAM in July 2018, general insurance companies have appointed a Head of Actuarial Function that provides assurance to the board of directors and senior management on the adequacy of the calculation of technical provisions, the capital requirements and other actuarial matters. This role requires providing advice to the insurer on a broader range of topics like current and future financial soundness, investment policy, actuarial soundness of products, and product development and design.

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QED has a team of qualified and experienced general insurance actuaries who perform this role for many clients and can strike a balance between ensuring compliance and adding value by assisting the board with the development of the Actuarial Function.

Profitability Analysis, Product Development and Pricing

Underwriting performance is a key driver of any insurer’s success. Our profitability reviews provide insight for management thereby facilitating informed decision-making. Using detailed claims and exposure data to calculate technical provisions means that the Actuarial Function is ideally placed to investigate and present trends in the underwriting results. Coupled with information on market intelligence, the analysis provided is the foundation of product development and pricing.

 

We tailor our product development and pricing solutions to reflect the nature of the product, the availability of data and market forces.

Economic and Regulatory Capital Modelling

The ability to assess capital needs today, and allocate and project capital requirements consistently with the business strategy, is key to the value creation process. At QED, we have extensive experience with supporting the development of economic capital models.

Other

  • Valuation of technical provisions

  • Stochastic reserving methodologies

  • Solvency II, Solvency Assessment and Management (SAM) and other regulatory valuations and solvency assessments

  • Asset-liability modelling and management

  • Reinsurance analysis and optimisation

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