Actuarial Roadmap
“Virtusa was ‘Right On’ with its assessment. We needed to change the way we do business and better align with IT. It was necessary to implement consistency, reusability and streamline the way we do business”
- Vice President of the Actuarial division
We see a “perfect storm” of increased regulation and risk modeling requirements doubling the demand for actuarial talent yet actuaries are expensive and in limited supply. Furthermore, actuarial work tends to be highly variable.
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In response, we offer Actuarial Roadmap - an industry specific solution to the issues confronting the actuarial department. The actuarial roadmap service enables an actuarial organization to create a fact-based management action plan that drives actuarial, business and IT forward with urgency to address the challenges of new regulations, increased oversight & scrutiny, the complex risk modeling that face every actuarial organization today, through 2012 and beyond.
We use an assessment framework to interview/capture information and then couple this with our knowledge database to create a management action plan enabling clients to streamline activities and level workloads.
We bring objectivity and experience to the situation with strong references and a portfolio of assets. For example, a top global life insurance company required industry best practice experience in its effort to develop a strategy to appropriately leverage its information technology infrastructure and services to support the rapidly growing actuarial organization. The client turned to us to analyze its actuarial business processes, workflows and resource constraints - to identify how the actuarial organization could both improve its manual processes as well as leverage IT support as part of its effort to manage business demand more effectively. We provided an assessment and necessary steps to reduce costs, better manage adoption of regulations, reduce overall risk by improving financial accuracy and processing. After the assessment, the client engaged us to manage its actuarial modernization program from a program management, architecture, and business process perspectives.
