Actuarial services

Financial services businesses in Asia are facing an unprecedented pace of change created by the increasing impact of convergence, globalisation and new technology. Yet, we also recognise that many of the most fundamental questions in running a business remain the same. Only the answers are changing.

We are a team of specialists with technical expertise in statistics and risk analysis. We have the capacity to process, manipulate and analyse large volumes of data. This is made easier by significant investments in technology, resulting in an IT infrastructure that serves as a valuable client resource.

With these analytical capabilities, we can provide you with the critical information and insights you need to develop successful competitive strategies and enhance shareholder wealth.

Our team

Across the globe we have over 1,000 actuarial specialists, of which about 100 of them are located in the Asia Pacific region including Beijing, Shanghai, Shenzhen, Hong Kong, Taiwan, Singapore and Thailand. Our specialists have extensive experience in the industry with accredited professional qualifications, extended expertise and knowledge of the local regulatory requirements and insights of the market situations.

Our actuarial specialists work closely with our PwC consulting, risk management and audit professionals, and leverages on PwC’s global network to provide holistic advisory services to many financial institutions, such as insurers, banks, retirement and health organisations, and asset management funds.

 

Actuarial services in Asia

  • Modelling and projections including implied volatility calibration under C-ROSS, Solvency II, and MCEV
  • Embedded options and derivative pricing
  • Risk management modelling via calculation of VAR, CTE and Greeks
  • Financial and regulatory reserves review
  • Process review and results validation
  • Solvency and adequacy evaluation on employee benefit plan; suggesting adequate contribution of employee benefit plan
  • Actuarial report on employee benefit plan
  • Outstanding claims, prudential margins and IBNR provisions
  • Developing IBNR-based performance target
  • Market and customer segmentation for pricing and underwriting
  • Analysing and pricing auto insurance by GLM (general linear model)
  • Assisting in adjusting premium quarterly by pricing platform and benchmarking premium and rate by market/competitors analysis timely
  • Designing performance target to enhance service quality, internal control, and risk management
  • Minimum capital requirements for life, non-life and health insurers; dynamic solvency testing review and modelling
  • Assisting in economic capital development
  • Solvency II implementation and internal models review
  • Assisting insurance companies in designing control processes and documentation for the compliance of Solvency II
  • C-ROSS implementation and impact evaluation
  • Reviewing internal model and providing modelling solutions (Prophet, MoSes, AXIS)
  • Identifying data quality and the pros and cons of the work flow of the enterprise
  • Enterprise positioning and competitor analysis
  • Product pricing, customer stratification, and customer behavior analysis by statistical model
  • Establishing potential target for channels and marketing, underwriting, and claim department by forecasting model
  • Risk identification, modelling, and analysis
  • Establishing risk-based performance targets and KRI
  • Assisting in developing risk strategy and processes; identifying risk preference and tolerance
  • Governance and risk report at enterprise-level
  • Modelling IFRS reserve for existing business, or converting IFRS reserve from local reserve
  • Assisting in IFRS profit analysis
  • Providing suggestions to achieve best IFRS practice
  • Local knowledge of the working of the industry in particular countries including the specific requirements of customers and regulators
  • Product development including design and customisation to meet local demands
  • Business planning including profit testing, capital and strategy evaluation
  • Competitors analysis including market and channel analysis
  • Identifying suitable acquisition targets and SWOT analysis of targets
  • Assessing shareholder value of restructuring strategies
  • Due diligence appraisal including detailed evaluation on reserves, solvency, embedded value, and financial projection
  • Expert advice on merger negotiation, execution and integration
  • IPO supporting services

Contact us

Charles Garnsworthy
Actuarial Services Global Leader
Tel: +[852] 2289 1819
Email

Chris Hancorn
Partner
Tel: +[852] 2289 1177
Email

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