Arma’s Actuarial Services division develops complete product pricing strategies based on various actuarial and analytical skills, which are in turn based on country-specific regulatorily and reporting requirements. Arma’s team combines a unique skillset, with experts on the underwriting and actuarial side who possess many years of experience in the local markets.
Combined with data analytics and risk modelling support, we can guide our clients by working hand-in-hand with their teams to develop pricing tools, reserving techniques, policies and controls that lead to a sustainable, predictable and profitable book of business.
Data Analysis and Risk Modelling
We can perform various portfolio analytics and divulge many insights of the business. Portfolio analysis can help the identification of opportunities or areas of poor performance. We can develop tools tailored to the needs of different stakeholders to help you take better informed decisions and track performances through data driven analytics.
Insurance pricing is a multi-dimensional task. Setting the right prices for different types of insurance products is vital for a business’s profitability. To achieve this requires an exhaustive analysis of the business performance as well as extensive knowledge of the external environment, competitive pressures, the stage of the underwriting cycle etc. The team can perform pricing reviews of existing models as well as develop pricing tools for consumer and commercial lines of business (e.g. Generalised Linear Models pricing for motor insurance or technical pricing for commercial property insurance).
Technical Provisions represent a significant part of an insurance company’s balance sheet for general insurers. Accurately assessing the different types of reserves implies stability of the company’s balance sheet and profitability. Arma brings extensive expertise in a wide range of reserving techniques, both deterministic and stochastic, that helps companies assess their reserves’ adequacy, reduce the reserves’ volatility and smooth financial results.
Analysing and testing the durability of reinsurance structures in a changing business environment is very important. Optimising the reinsurance strategy and bringing it in line with the risk appetite of the company while maximising the expected return is crucial and can differentiate a company from its competition. Arma can test different reinsurance structures and help a company decide the most appropriate reinsurance arrangement that will be in line with the company’s corporate strategy.
Partner – Actuarial and Risk Management
T: + 971 4220 3717