■ Risk management
We provide risk management advisory services, from design to implementation and monitoring. This involves quantitative risk modelling and enterprise risk management support work under an own risk solvency assessment (ORSA).
What is ORSA?
It’s the entirety of the processes and procedures employed to identify, assess, monitor, manage and report the short-term and long-term risks an institution faces or may face and to determine the own fund as necessary to ensure that the institution’s overall solvency needs are met at all times and are sufficient to achieve its business strategy.
Risk management services Our risk management services include:
■ Effective design, implementation and ongoing monitoring of the risk management system
■ Continuous identification, measurement, mitigation and reporting on all qualitative and quantitative risks faced by an institution
■ Effective governance and embedding of the risk management and ORSA processes
■ Internal control, policies and specification of risk roles and responsibilities
■ Implementation of risk management tools and reporting, including risk dashboards
■ Board training and appreciation of risk and solvency position projected over planned horizon
■ Value-driven compliance We assist institutions in ensuring compliance with current and ever-changing regulations, including preparation for the implementation of changes in regulation.
We are assist insurers and pension funds to develop and regularly review adequate written-risk management policies that cover all aspects of risk faced by an institution. We are able to hold training sessions to prepare leadership and employees for the changes. By working closely with our clients and maintaining communication with regulators, we can provide an independent review of clients’ readiness to regulatory changes. Our review and implementation experience allows us to assist in minimising the burden of regulation and related systems and process changes and to capitalise on the opportunities created.
We add value beyond the traditional needs through:
• insurance strategy, process, deals, research and
• internal and external audit advisory
• damages and litigation advisory
• actuarial analytics
• change and transformation
• Insurance process improvement
We apply actuarial expertise to asses, design and implement or independently review insurance processes,policies and controls.
This involves determining the current processes and applying best practice.
We evaluate strengths and weaknesses of insurance
processes and, where gaps are identified, we provide
practical advice on solutions that could eliminate the
Typical insurance processes, policies and controls
– technical provisions
– business planning
– risk management
– capital and treasury management, investments and valuations