Elevating in-house modelling for life insurers

In the new AASB 17 landscape of Australian insurance, precision and expertise are indispensable. Life Insurance companies can benefit from working with us to elevate in-house capabilities with rigorous model validation. Here’s why collaboration with us strengthens your in-house team:

1. Australian modelling expertise: With a deep understanding of the Australian insurance market, McGing’s team brings unparalleled expertise in modelling for this unique landscape. From demographic shifts to regulatory nuances, we can help tailor your models to capture the intricacies of local trends and regulations.

2. Global experience: We have global partnerships with organisations that have extensive experience in building and reviewing actuarial models on a range of software. Combining McGing’s extensive Australian expertise with global modelling expertise makes us the perfect partner for your modelling needs.

3. Stringent model validation: Accuracy is paramount in insurance. Our approach emphasizes stringent model validation processes to ensure that your models meet the highest standards of accuracy and reliability. Through thorough data validation, robust sensitivity analysis, and comprehensive stress testing, we ensure that your models are not only accurate but also robust.

4. Cost efficiencies: We understand the importance of cost efficiencies in today’s competitive landscape. Our ability to provide cost efficiencies ensures that you get the most value without compromising on quality or reliability.

5. Comprehensive support: We offer comprehensive support throughout the entire modelling lifecycle, empowering your in-house team to navigate every stage of the process with confidence. From data preprocessing and feature engineering to model deployment and monitoring, we provide the expertise and guidance needed to drive successful model development and implementation.

6. Efficiency and scalability: Time is of the essence in insurance, and our solutions are designed to maximize efficiency and scalability. By leveraging proven methodologies and streamlined processes, your in-house team can accelerate model development and deployment, driving faster time-to-insight and greater business impact. Whether you’re facing a surge in demand or scaling your modelling efforts, we provide the support and resources needed to meet your needs.

7. Continuous learning and improvement: The Australian insurance market has evolved with the introduction of AASB 17, and staying ahead requires continuous learning and improvement. We offer access to ongoing training, workshops, and knowledge-sharing sessions, ensuring that your in-house team remains at the forefront of insurance modelling techniques, equipped to tackle new challenges as they arise.

By partnering with us, you gain access to leading expertise in the Australian insurance market, global modelling experience, stringent model validation processes, cost efficiencies, and comprehensive support.  Together, we’ll unlock new opportunities, mitigate risks, and shape the future of insurance in Australia. Connect with us today to learn more about how we can elevate your modelling capabilities and drive success in the dynamic Australian insurance landscape.

Sean and Neekhil

Sean and the team at McGing Advisory & Actuarial provide a wide range of consulting services across superannuation, wealth management, life insurance, actuarial, risk management, investments and governance.