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Actuarial Services

Whether you are an insurance company, a manufacturer or a regulator, actuarial services can help your organization understand its risk and how to mitigate it. Our professionals have experience providing both state regulators and organizations with insight on complex calculations.

    Mar 29Case Study

    State insurance department completes examination for 18-month rule

    Our solutions

    From regulatory compliance and reserve certifications through strategic planning, our experienced actuaries can provide you evidence to help you have confidence in your decision making and planning.

    State regulators

    State regulators rely on actuaries to provide timely and accurate information to help complete their examinations. Our team is experienced in assisting state examiners and understands how to work with the state examiners and their vendors for collaborative and timely project execution.

    Services for state regulators

    • Risk focused examinations
      Work with a team experienced in assisting state regulators with examinations as a collaborative effort. We understand what regulators need to evaluate loss reserves and other actuarial risks, and can help you be thoroughly prepared for your exam procedures. Our actuaries are familiar with actuarial reserve review requirements of the NAIC’s risk focused examination procedures, as well as documenting work in TeamMate.
    • Rate filing review
      Across all lines of insurance, we have experience assisting state regulators in determining whether insurance company rate and loss cost filings meet statutory guidelines.

    Project example

    A state insurance department needed actuarial services for an examination led by examiners employed by the state. We worked with the examination team to diligently provide all actuarial analysis needed in a timely manner and documented our work seamlessly in TeamMate. Specific activities performed as a part of this examination:

    • Review of company’s internal actuarial controls
    • Assessment of board oversight of reserve process
    • Determine adequacy of reserves related to the Patient Protection and Affordable Care Act (ACA)

    Insurance organizations

    Insurance organizations across health, property and casualty, life and reinsurance have a multitude of financial and operating risks requiring actuarial services. Our team is experienced in actuarial analysis, and is also a part of a larger industry specialized team of professionals who understand the insurance industry and can see the global picture.

    Prepare for risk-focused and other examinations. Work with a team experienced in assisting state regulators with examinations. We understand what regulators need to evaluate loss reserves and can help you be thoroughly prepared for your exam procedures.

    Actuarial services for insurance entities

    • Reserve certification
      Receive reports documenting the best estimate of reserves, allowing your insurance company to comply, while also meeting industry best practices.
    • Due diligence services
      Mitigate the chance of surprises during a transaction, whether you are buying or selling an insurance business, by assessing the risk of various aspects likely to have an impact.
    • Dispute services
      Help settle insurance policy related disputes through insurance company, attorney, forensic, valuation and litigation specialists’ assistance on complex claims such as misreported premiums, business interruption and reinsurance.
    • Valuation services
      Evaluate what markets to expand into, what lines to expand and how to maintain a certain level of profitability with actuarial valuation analyses on a standalone basis or to supplement other evaluations.

    Commercial entities

    Commercial enterprises can benefit from enhanced understanding of the risks facing their self-insurance program, prepare for a merger or acquisition, and ensure they are fairly treated in disputes.

    Actuarial services for commercial entities

    • Reserve certification
      Receive reports documenting the best estimate of reserves, allowing your company to comply with GAAP accounting for self-insurance, while also meeting industry best practices.
    • Due diligence services
      Mitigate the chance of surprises during a transaction, whether you are buying or selling a business that retains insurance risk, through assessment of various impact factors.
    • Dispute services
      Help settle insurance policy related disputes through insurance company, attorney, forensic, valuation and litigation specialists’ assistance on complex claims such as misreported premiums, business interruption and reinsurance.

    By the numbers

    5th largest

    5th largest health insurance auditor (A.M. Best 2019)

    7th largest

    7th largest insurance auditor (Aon Ward Benchmarking 2018)

    11th largest

    11th largest P&C insurance auditor (A.M. Best 2019)

    60% of states

    Working or qualified to work in 60% of states using external specialists