Our Services
Reserving
Captive insurers, mutuals and pools are under increasing pressure to achieve efficiencies and demonstrate proper stewardship of funds to stakeholders and their parent company. Captive insurer scan potentially drive efficiency through self-insuring, or retaining, more of their risks – that is taking larger deductibles on their insurance policies, so that insurance protects at higher levels.
To ensure funds are available to pay for these retained costs many corporations and public sector entities make annual provisions in the accounts or establish a ring fenced self-insurance fund. Perrenial has significant experience in helping captive insurers better understand the funding requirements emanating from self-insurance. We ensure the entity has adequate funding in place to meet the cost of self-insured claims when needed.
We offer Loss Reserving Specialist Opinions (LRSOs) / Statement of Actuarial Opinions (SAOs) for captive insurers domiciled in a number of jurisdictions, these include:
Key benefits
Pricing
We help insurers and MGAs to price large individual accounts. A severity and frequency distribution are built around your historical loss experience to determine a gross distribution. Insurance structures that your business wishes to explore will be overplayed and prices for different layers or insurance structures can be deduced.
We also help insurers and MGAs to build new and develop existing rating models, we do this by working closely with underwriters and using your historical claims and exposure information to ensure the rating models are not only statistically robust but also commercially viable.
Key benefits
(Re)insurance Programme and Design Optimisation
Our (Re)insurance Programme Design Optimisation services offer critical insight into your historical claim profile – enabling key decisions to be made around the optimum balance of risk retention and insurance. Such studies may result in premium savings or reduced ‘tail risk’ and can provide key insights into the risk profile of your business.
Our approach uses stochastic modelling to determine the cost of risk associated with differing levels of retention. This is based on the analysis of historical losses and appropriate exposure measures. Combined with industry benchmarks our approach provides valuable data and a framework to help clients make effective decisions around their insurance programme.
Our methodology enables clients to understand:
Key benefits
Binder Portfolio Management
Our Binder Portfolio Management services give MGAs an insight into the loss ratio performance of their binders. The increasing scrutiny by actuarial pricing teams at insurers and Lloyd’s syndicate on the performance of delegated authority business means that it is now more important than ever that MGAs understand and take ownership of their data.
We can help MGAs analyze their data, identify key trends and produce forecast loss ratios to ensure they have all the relevant information at their fingertips to help them navigate capacity renewal meetings and help them to get their capacity renewed.
Key benefits
Get In Touch
