Today, insurance plays a critical role in all aspects of business. It enables firms of all sizes to both thrive in growth markets and to weather out less favourable conditions. Getting the right balance can be challenging, whether from increased regulatory requirements or underwriting cycles, developments such as new technologies, increased competition and novel product offerings can compound the complexity.
As the volume and variety of developments in the insurance industry continues to grow, insurance providers are experiencing issues in securing specialist actuarial expertise within the sector. New compliance requirements around developments such as IFRS 17 and EIOPA’s review of Solvency II, the climate change and sustainability agenda, along with AI and machine learning applications in the insurance industry suggest that constant change is the new normal to which companies must adapt, and the need for specialised knowledge and experience is on the rise.
Why Grant Thornton?
Grant Thornton Isle of Man offers a broad range of actuarial services spanning life insurance, non-life insurance and health insurance. Offering actuarial expertise and integrated services across the evolving data analytics and modelling universe, Grant Thornton’s team of experts and strong international network can provide a range of solutions tailored to your actuarial requirements.