Life Insurance Consulting
Given the unpredictable lifestyle of our era, enhancing security through life insurance is becoming increasingly important. Increased awareness, cultural shifts coupled with the continuing uncertain economic climate is forcing insurers to look closely at the way their business is run. Insurers are focusing on the future to remain competitive while maintaining compliance with an evolving regulatory landscape. Decisions are being made quickly and more frequently than ever before. There is no time to lose.
How can we help?
SIR Consultants has been providing a broad array of services to life insurance companies. Our breadth of expertise and experience working for multiple clients in the region provides us with a great advantage to provide a world class service. Our services include:
- Development of a business plan outlining the feasibility of setting up a Life Insurance Company
- Product design and development including calculation of premium rates
- Profit testing of all products
- Actuarial valuation to determine reserve requirements
- Embedded value calculations for life portfolio
- Designing and costing of compensation structure for the sales force, expense analysis and developing underwriting guidelines and procedures
- Determination of retention levels on reinsurance basis and assistance with reinsurance treaty negotiations
- Advice on investment of life insurance portfolio and asset-liability management
- Assistance with preparing product approval documents to be filed with the regulators
- Assistance with conducting ongoing operations of a company, including product enhancement and re-pricing of life products
- Assistance in carrying our Expense Analysis for company
- Prepare Liability Adequacy Testing Report
- Gross Premium Valuation of Life Insurance Portfolio