Clarifying your financial future
The 1,100 professionals on PwC's global actuarial services team help clients act decisively on their most important issues. We apply our risk and analytical skills to turn complex data into the predictive insights that inform practical business solutions.
Our Swiss practice consists of over 25 actuaries with capabilities in modelling and data analytics to better enable you to understand of your business and implications of your decisions. We have effective solutions developed for life, non-life and health insurer, reinsurance companies as well as regulators, captives, banks and agents and brokers. Our team works both with domestic as well as international companies.
Our Swiss practice is part of the innovative PwC Digital Services. Together we can provide insights and solutions for adapting to new technologies and how they could affect your business.
New accounting and solvency regulations require significant changes to existing actuarial systems and infrastructure. You get advice on how to redesign, implement and adjust actuarial models to meet the new requirements (including IFRS 17). We can provide insights for your business and sharpening your competitive edge.
Machine learning, data analytics, process intelligence and operational excellence provides tools for improving the actuarial processes. Together with our Digital Services colleagues, we can deliver data-based insights using these modern methods and have access to state-of-the-art techniques like robotic process automatization (RPA) and chatbots to help improve your processes. You can improved the effectiveness of your actuarial resources through efficient, value-enhancing processes. Our deep insight into the insurance market and collaboration with new technologies can provide you with solutions adapted to your needs.
You get the safety over your insurance and financial risk by our experienced appointed actuaries for life, non-life, and health insurer as well as reinsurance companies.
Accurate financial disclosures and investor analysis is the cornerstone of any successful insurance business. Our market leading experience, integration with audit and close links with regulators, make us uniquely placed to provide assurance over your actuarial calculations. SST internal model approvals and SII validations gives comfort to your boards to know you are meeting the regulatory requirements.
You get insights into effective risk management and how to optimise your capital management. This can provide opportunities to maximise new regulation and support your strategic ambitions. We can provide insights into your capital strategic and effective risk management critical to generating favourable and sustainable returns.
You get end-to-end solutions which are tailored to your needs from the small niche player to the largest player. We can support you in order to comply with regulatory demands and provide latest solutions regarding value and risk based management, asset liability management, solvency modelling, pricing strategies, reserving, reinsurance, predictive health and robotics.
The current phase of low interest rates is challenging for life insurers and pension funds, particularly under the high guarantees in the second pillar (BVG). Moreover, essential changes to the legal and regulatory framework create opportunities to adjust the tariff premiums and mitigate some of the interest rate risks. For example “Reform der Altersvorsorge 2020” allows the financing of the conversion losses through a longevity premium and demands a reduced margin in the risk premiums. We can provide you with analysis, financial modelling, and support in these regulatory matters.
The non-life insurance environment is becoming increasingly dynamic, with profound changes to the demands on actuaries. The challenges faced by our clients include regulatory changes (e.g. StandRe), reporting standard changes (e.g. IFRS 17), premium rating of new risks (e.g. cyber), automation of actuarial systems and the incorporation of new analytical methods (e.g. machine learning). These changes impact the business in myriad ways, from new models and new processes to new profitability measures and KPIs. PwC’s experts are ready to support you, from assessing the financial and business impacts for your company through to the implementation of your solution.
You get assistance on the end-to-end process, including deal identification, due diligence, actuarial appraisal and valuation, advice on accounting implications, negotiation and communication with regulatory authorities to achieve successful business transformation.
On 18 May 2017, the IASB finalised its project on insurance accounting and published IFRS 17 which will fundamentally change the accounting for entities issuing insurance and investment contracts with discretionary participation features.
PwC has developed an Experience Analysis tool that allows pension funds and insurance companies to better understand the key drivers in their underlying population through highlighting the value in your data, its credibility, and how it compares with the market. You can explore how the business will develop in the future and what strategies you might want to employ.
Actuarial Services Leader, PwC Switzerland
Tel: +41 58 792 26 13