McGing Advisory & Actuarial has always had partnering in our core DNA.   Our philosophy is that the deeper the collaboration and shared journey with our own employees and with our clients, the better the experience all around, the better the insights shared and the better the outcomes.

We’ve seen over the years that the business environment becomes more complex, competitive and fast moving.   To keep an organisation lean, it makes sense to get and pay for expert help from specialists only when you need it and when it provides value compared to having such expertise on your own staff.   The IT industry have long blazed a trail in the business partnering concept – think Microsoft.

Here at McGing, we entered our first partnership four years ago to be the Appointed Actuary to a number of friendly societies.  That has worked superbly adding flexibility and depth of resources and didn’t miss a beat during the financial markets and working from home upheavals of COVID.

The resilience of the economy means increased demand for specialist skills to support organisational growth. This growth has led to us formalising more partnerships.   These build on our trusted relationships with other complementary service providers.

Recently we started working with three new major service providers within financial services.

In the first of these new partnerships, our partner brings Asian based actuarial capacity and resources in modelling, reporting, IFRS17 implementation and analytics skillsets which results in a strengthened joint offering.  We provide a strong, local understanding of the Australian life insurance market. Through this partnership, we are better able to support and provide value services to Australian life insurers.

Our second recent partnership is with a major Australian based provider of data, technology, legal, advisory and consulting services to superannuation funds, trustees and wealth managers.  We support their value proposition with our actuarial expertise.  As the partnership explores an array of avenues for our partner to tap into McGing’s actuarial know-how, the immediate focus is to provide effective and efficient support for superannuation fund mergers.

Our third new partnership enhances the depth of a leading consulting and delivery firm in superannuation by including financial and data savvy actuarial analysts familiar with the industry.

Partnering enables us to expand our outreach to clients, leveraging our partners’ expertise alongside our in-depth understanding of client needs in the Australian market.   We will continue to work towards expanding partnerships with providers that benefit our clients while sharing our strategic alignment and values.

 

 

Sean is Managing Director of McGing Advisory & Actuarial and is currently a member of the ASFA National Member Engagement Committee. These views are his own personal views.

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.