Ru Eng
It's kind of fun to do the impossible
Walt Disney

Actuarial support

With extensive practical industry experience in a range of organizations we can offer valuable advice on actuarial resource and help optimize the processes within your company. We understand the need to balance cost and resource and how the efficient organization of this functional area can deliver effective support to the business. We aim to offer practical solutions to firms with no internal actuaries through to firms looking to reorganize large in house actuarial teams.

Pricing advice that gives a competitive advantage

With extensive experience across all areas of pricing we are able to provide advice that includes the technical, operational and strategic aspects of the underwriting process. Our aim is to have a clear understanding of the product and the features of the coverage in order to apply the most appropriate techniques and models to quantify the risk.

Key benefits to your business:

  • Provide a thorough understanding to quantify risk and improve profitability
  • Facilitate the data management process
  • Provide clear, cost effective models
  • Implementation of strategies that recognize  the market cycle
  • Produce effective reports to monitor performance
  • Embed  pricing processes that links with capital, planning and reserving
  • Assistance in training and the development of  an understanding of pricing techniques

We offer a range of solutions using a variety of pricing methodologies. With our advice being based on practical industry experience working directly with underwriting teams. Our involvement ranges from pricing simple  risks to niche innovative products. We use experience rating  and exposure based techniques with blended credibility approaches where suitable. The methods employed include:

Business focused planning and risk management

Our aim is to let the business lead the requirements of risk management. The application of good practice to the key areas of the business will promote effective risk management. We can help deliver appropriate processes and systems to embed the framework into your business, support the operational and governance demands and from this satisfy the compliance requirements for the entity.

Key benefits to your business:

  • Help understand the critical  risks to your business
  • Provide a flexible approach to enhance existing established processes or to target specific areas
  • Give genuinely independent advice on your risk management framework /systems
  • Help with the technical and operational aspects of risk management
  • Improve the transparency and clarity of output to support the business

Our advice can extend to support an enterprise wide analysis of your business model to improve the key aspects of the risk management process and in particular the following main areas:

  • Contribute to the effective implementation of the risk management systems, risk modeling and the calculation of the capital requirements
  • Calculation of technical reserves including assessing the appropriateness of data, information, methodologies, models and assumptions
  • Support the overall underwriting policy

Give advice on the adequacy of reinsurance arrangements

Materials
Challenge Group Presentation
Agricultural Insurance
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News
27.03.2018
Since Challenge Group Brokers (UK) Ltd. became a Lloyd’s broker, it has been strengthening its position in the London market. As a result, our London team has been growing and a larger office was required to accommodate the growth. Challenge Group Brokers (UK) Ltd. is pleased to announce it...
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