Insurance companies are grappling to fulfil the expanded scope of actuarial responsibilities in an industry that’s facing critical shortage of actuarial talent. Increasingly stringent regulatory and compliance requirements have driven actuaries to take up additional tasks, including capital management, financial and statutory reporting and risk management.

High attrition rate and steep cost of replacement or acquisition of additional actuarial resources in this knowledge-intensive profession, are adding to the burgeoning pressure. Hence, acquiring and retaining such resources for the long-term is emerging as one of the biggest concerns for insurers.

WNS’ Actuarial Services team seamlessly collaborates with clients’ staff actuaries across life & annuities and property & casualty insurance businesses to offer a range of actuarial services. Database management, financial and actuarial model-building, actuarial production support and transformation projects are some of the services we offer. Apart from actuarial support services, we also enable automation of various processes of our clients’ actuarial function. This helps the clients’ actuarial resources focus on more complex actuarial tasks that involve developing and validating strategies for superior decision-making. Our services enable insurers to expand the scope for their actuarial calendar by staffing a full team of budgeted actuaries at an affordable cost, leading to a lower attrition rate and higher job satisfaction.

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The WNS Advantage

Largest Actuarial Practice / Team in the BPM Industry

WNS owns a highly-skilled, 250-member actuarial team with the experience of delivering various actuarial processes on a regular basis across multiple actuarial projects. We have helped plug the shortage of actuarial talent for many of our global insurance clients across the entire value chain, to create a proven working model

Rich Domain Experience

The WNS Actuarial team possesses extensive experience and deep expertise of delivering superior outcomes spanning a wide spectrum of actuarial tasks, including pricing, reserving, Solvency II and capital management, asset – liability modeling (ALM), valuations / projections, asset management, experience studies, among others.

A Differentiated Practice

Over a period of time, WNS has established a differentiated actuarial practice to support actuarial production work, execute projects and automate actuarial tasks.

  • WNS delivers actuarial services and end-to-end solutions across the full spectrum of actuarial functional towers
  • WNS supplements its actuarial resources with analytics, IT, black belt, quality, and business analyst resources to automate and / or re-design actuarial processes
  • Our "team extension" engagement model, coupled with our actuarial work control cycle, creates an environment in which actuarial work can be effectively augmented and executed offshore

Actuarial Center of Excellence

WNS has invested heavily in building an actuarial practice in Chennai - India, which has both scale and capability. Our Gurgaon - India location has recently been developed into an additional delivery center. WNS continues to invest heavily in technology and resources to develop our actuarial practice. Our Actuarial resources work jointly with the Analytics team in the emerging opportunities such as big data analytics, pricing, predictive modeling, MI and reporting.

Knowledge of Geographical and Regulatory Environments

WNS has developed Solvency II and ORSA programs for clients and understands the specific geographical and regulatory requirements.

" This allows Aviva to continue our working relationship with a provider that truly understands the insurance industry and has a tireless commitment to process excellence and customer care, making WNS our partner of choice. "
Cathryn Riley

Chief Operating Officer, Norwich Union Life, Chairman, Aviva Global Services

A ‘Leader’ in Everest Group’s Insurance BPO – Service Provider Landscape with PEAK Matrix™ Assessment 2014
Services

Actuarial services in life insurance

  • In-force Model Projections / Reporting

  • Financial Modeling

  • Product Management and Pricing

  • Capital Management

  • Asset Liability Management (ALM)

Actuarial services in property & casualty insurance

  • Reserving & Claims Analysis

  • Solvency II & Capital Modeling

  • Pricing and Underwriting Support

  • Catastrophe Modeling

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