Financial reporting, supervision and actuarial support
The management of a life insurance company involves the co-ordination of specialist activities ranging from underwriting and marketing to systems, finance and investment policy. In an increasingly sophisticated environment it is more important than ever not to lose sight of the company’s overall business strategy and management of the core business.
Good management information will be essential to any company hoping to compete successfully in the life insurance, pensions and savings market. A company will need to be able to assess accurately the risk and profitability of every part of its business and to react quickly to changes. It is essential that management information is incorporated effectively within a company’s management, strategic and business planning process.
Not only can strong compliance with the regulations reduce the risks of adverse publicity, it can provide a competitive advantage. With an increasingly litigious society, risk management is more important than ever before. Regulators, analysts and sales channels are evolving, with efficiently controlled companies being rewarded with lower capital requirements and higher volumes of sales.
Watson Wyatt provides actuarial support to many companies, from traditional insurers to virtual insurers, as well as companies particularly concerned about maximising cost efficiency. Whether as a short-term facility (if key staff depart unexpectedly or if a special project requires additional resource or expertise) or as a longer-term solution to provide a high quality actuarial service, Watson Wyatt is able to provide a client focused and experienced team, capable of delivering results in a cost-effective manner.
To find out more, please contact your usual Watson Wyatt consultant or:
Matt Saker at matt.saker@watsonwyatt.com, +44 207 227 2490
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Economic Capital framework