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Actuarial process improvement


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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
More about this service

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.

Contacts

Brian Purves
Head of Actuarial
+44 (0) 20 7212 3902

Mohammad Khan
+44 (0)20 7213 1945

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