For insurers seeking to improve financial reporting timeframes, looking to
streamline actuarial processes, restructure their actuarial function, and
enhance the effectiveness of their actuarial models and systems, PwC provides
support for key operational aspects of all actuarial processes supporting the
financial reporting function.
We can work with you to review, redesign, and improve your existing
actuarial processes and procedures in order to ensure accurate and timely
results and the most efficient and effective use of your resources.
How we can support
you
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Potential issues
- You want to streamline your actuarial reporting process to improve
efficiency or reduce reporting timeframes
- You need to reconfigure your actuarial function and implement rigorous
controls to support the ever-increasing financial reporting requirements
- You need to update and formalise the documentation of your actuarial and
financial reporting processes
How we can support you
- An efficient, streamlined and cost-effective valuation and reporting
process that enables you to meet shorter reporting deadlines and focus on value
adding activities
- An actuarial function structure that maximises the value of systems,
processes and expertise which overlap across reporting bases and actuarial
work-streams
- A comprehensive Actuarial and Financial Reporting Procedures Manual that
meets the requirements of PSB and Sarbanes-Oxley, strengthens management
controls and supports training of new personnel
PwC’s operational improvement services include
- A 'Smart Close' project to streamline all financial reporting tasks and
provide tools and training for value adding activities
- Assessment of actuarial processes and controls together with solutions for
effective management within the risk framework of the company
- Structural review of the actuarial function with solutions that will meet
the needs of tomorrow’s financial reporting requirements and maximise the
efficient use of systems and expertise
- Full service project management driving the development of documentation
and process mapping for all key actuarial and financial reporting
procedures.
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