Actuary Outsourcing Insurers

Use Case 1: Outsourcing the Actuarial Function

We understand the reservations senior people may have about bringing an actuarial consultant into their business. Here's how we turn outsourcing from a source of trepidation into a font of business value.


Gerry is the CEO of a small insurance company operating in the non-life space.

While his team aren’t required to have a qualified actuary in-house, Gerry is faced with a combination of a mounting load of regulation, a lack of capacity and resource depth, and a range of financial pressures.

Gerry has previously considered outsourcing the actuarial function, but has some major reservations:



The most obvious option available is to go with one of the Big Four, but they charge stratospheric day-rates, and budgets are already tight.

And won’t the larger consultancies simply parachute in a pre-packaged, pricey solution that doesn’t necessarily fit with his specific needs?



Gerry is concerned that third-party actuaries will act like his year-end accountants: they’ll just file the necessary reports and then leave without taking the time, at senior management level, to join the dots and link their findings to strategic decision-making.



Will an outside actuary be overly cautious in their thinking when Gerry’s business may need to be more agile and adventurous to remain competitive?


Here's how City Actuaries can help a CEO in Gerry's position:



Gerry will be able to outsource the actuarial function to a reputable group of experts at an affordable price.



Compared to a Big Four package, City Actuaries offers a more bespoke, relationship-centred service that reflects and responds to Gerry’s unique priorities as a business leader.


Added Value

Gerry’s business can continue to work with City Actuaries as a long-term partner: the deeper the knowledge of his business, the more benefits (strategic, operational, financial) can be derived.


If you're interested in actuarial outsourcing that's agile and affordable, contact us today.