RNA Analytics, a specialist in actuarial and risk management, has launched a new report titled The Modernization of the Actuarial Function, which dissects a rapidly changing industry and the role of the actuary today.
With the implementation of IFRS 17 looming, organisations around the world are preparing for new regulations and rules which impact actuarial, finance and risk management work daily. With the added difficulties posed by the ongoing health crisis of Covid-19, the sector has also had to face unprecedented challenges in carrying out projects remotely, calling on innovative technology more so than ever before.
From risk modelling to legacy software, consultation and implementation, the report explores how best to prepare for the coming challenges through harnessing revolutionary technologies. It discusses the growing importance of expert consultancy and bespoke structured data modelling solutions that ensure greater efficiency, productivity and scalability, to allow insurers and risk managers alike to focus on complex actuarial analysis with increased accuracy and profitability.
“2020 has been a challenging year for every single industry, but the actuarial sector has been able to utilise these hurdles as a means of demonstrating its true value and potential” said Vicky Daniels, marketing director at RNA Analytics.
“Through technological advances, collaborative work and innovative new systems, RNA has been able to continue supporting its customers across the globe. This report shares insights from our expert consultants, resulting in a comprehensive and diverse range of forward-thinking solutions to the challenges the sector is currently facing.”
Justin Hwang, managing director at RNA Analytics added: “We have spent the past six months collating information, discussing with in-house experts, and exploring our industry to produce this piece of report, ready to share with our customers and peers.
“With the disruption caused by COVID-19 and IFRS 17, our sector is undergoing a period of exponential change—and I am pleased to share how RNA Analytics is supporting the market with our products and solutions.”
RNA Analytics, COVID-19, IFRS 17, Risk Management, Insurance, Reinsurance, Justin Hwang, North America