Actuarial Services
Acumen Outsourcing offer a broad spectrum of actuarial services designed to address the diverse needs of MGA’s and insurers. Our team is committed to providing insightful, data-driven solutions that help organisations mitigate risk, optimise financial performance, increase profitability, and ensure regulatory compliance and capacity retention.Automated Bordereaux Data Management
Utilising advanced technology, we consolidate and cleanse multiple data sets including premium and claims bordereaux from either a single or multiple sources creating a base data set for improved visibility and decision making.
Initial deep dive into current state of portfolio
Utilising the cleansed data set our team will perform a deep dive analysis into your data to provide invaluable insights to help business growth and profitability, this includes but is not limited to:
- Portfolio profitability review
- Calculation of ULR
- Production of Triangulations
- Portfolio segmentation
- Identify Key drivers of ULR
- Broker Analysis
Ongoing regular reviews
When focusing on writing business, it can become difficult to keep on top of the insights obtained from the risk and claims information captured. Regular (usually monthly or quarterly) analysis is crucial to understand whether the business placed is profitable and within the capacity providers terms of business. These insights can also help focus future underwriting trajectory and placement in the best areas and with the right business partners. Regular reviews include elements of the initial deep dive but can also include the following:
- Assistance with Capacity reviews / renewals
- Meet internal and external reporting requirements
- Rate monitoring and rate adequacy reporting
- ULR Forecasting
Assistance with capacity negotiations
Capacity retention and renewal is crucial to the success of MGA’s. Acumen provides an independent view of your portfolio which can assist you in capacity renewal or expansion discussions.
Ad Hoc projects
Actuarial services cover a wide range of topics and therefore delivering ad-hoc projects when the need arises can be a more cost-effective solution than increasing the full-time head count. Examples of ad hoc projects include but are not limited to the following:
- Pricing model reviews
- Detailed Claims Analysis and modelling
- Assistance at peak times and reporting periods
- Preparation of capacity sourcing / renewal packs
Get in touch
Andrew Duttine
MANAGING DIRECTOR – ACUMEN OUTSOURCING LTD
Andrew has worked within the insurance industry for over 30 years, with over 20 years spent at Willis and Marsh. Since leaving broking Andrew has worked for several start-ups providing technology solutions to assist risk managers and insurers in effectively managing and understanding data to enable risk mitigation, accuracy in pricing and reserving and claims analytics.
Andrew joined Acumen Group in November 2024 and will be responsible for business development specifically aimed at the MGA and insurer markets to provide outsourced actuarial support in the form of bordereaux management, reserving and pricing analysis to help companies identify the key cost drivers of their businesses to ensure the correct risks are being written at the most cost effective price for sustained profitability, capacity retention and growth.
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