Changing market scenarios and regulatory requirements have opened up new risk avenues. It has put tremendous pressure on insurance organizations to understand and manage their risks better. It has become imperative for insurance organizations to relook at their decision making capabilities, putting undue pressure on their actuarial organization.
Virtusa develops and implements new strategies to help modernize and transform actuarial organizations and enable them address accounting, risk, and regulatory changes. Virtusa’s solution approach leverages its Accelerated Solution Design (ASD) methodology and provides a roadmap to enhance the growth of the actuarial organizations. This helps the actuarial organization determine actuarial accuracy and quality of customer service, identify and manage fraud and ultimately manage the overall risk portfolio of the entire business. This helps to
- Manage adoption of regulatory issues and ability to wrap controls aroundall processes effectively
- Improve model executions and results analysis
- Reduce overall risk by improving financial accuracy
- Facilitate strategic, tactical and operational decision making and reduce costs