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Life Insurance

QED has been providing the full spectrum of actuarial services to a broad base of life insurance companies for more than three decades. Over this time the insurance industry has faced numerous challenges such as increased competition, regulatory and financial reporting and COVID-19. QED have assisted our clients in negotiating these challenges to instill improved consumer confidence in the strength and integrity of the life insurance market.  

Head of Actuarial Function (HAF) /
Appointed  Actuary (AA) Services

QED is a fully independent actuarial consultancy. Our contingent of experienced, qualified actuaries is, therefore, ideally placed to fill insurers’ HAF / AA roles. We have a track record of providing independent sign-off for boards on all actuarial-related issues. Depending on our clients' needs, we can either perform a review or carry out the actuarial calculations using our in-house actuarial software, Basys.

Product Development and Profitability Analysis

QED has extensive experience in premium rating a variety of life insurance products across the African continent and is well-placed to understand what works in the different countries where we offer our services. In developing a product, QED will work with management to determine the optimal product structure and pricing assumptions for the chosen target market, policyholder objectives and distribution channels, ensuring competitively priced and actuarially sound products. 

Specialised Solutions

Through our intensive R&D programme, QED has developed a range of life insurance-specific tools and solutions adaptable to suit specific business needs. These include dynamic budgeting tools, stochastic asset-liability models (ALM) and economic capital models (ECM), risk-neutral models for valuing embedded investment guarantees and capital and reinsurance optimisation solutions.

IFRS17

At QED, we have recognised the need for a large, specialised IFRS17 team to assist our clients in moving and adhering to the new reporting standard. We tailor our assistance to the individual needs of each client by offering them a basket of products from which to choose, including:

  • Gap analysis

  • Scoping and selection of IFRS17 software

  • Product classification and documentation

  • Full implementation assistance

  • Product profitability assessments

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Market and Feasibility Studies & Life License Applications

Due to our long history and extensive knowledge of the different markets and regulatory requirements in and outside South Africa, QED has performed various market and feasibility studies for our clients to determine the viability of entering selected markets and selling multiple insurance products in those markets. QED works closely with management in setting market entry strategies and pricing proposed products during the approval of life license applications by various regulators.

Other Services

  • Peer reviews

  • M&A technical support

  • Actuarial function reviews

  • Assistance with strategic planning

  • Embedded value and appraisal value calculations

  • Asset-liability modelling

  • Review and development of internal capital models

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