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BUSINESS

Product development, risk development and verification

 Work scope 

  • Development of new risk and revision of existing risk for product development
  • Verification of risk for the coverage and its definition
  • Product planning and drafting of basic documents (provision, business plan, document on how to calculate the insurance premium and reserves)
  • Review of whether the product rates, insurance premium, reserves and basic documents adhere to regulations
  • Calculation of the insurance premium and reserves based on Cash Flow Pricing (CFP)
  • Development of new products and repricing of existing products
  • Support for work related to development of deduction products

 Execution method 

  • Verification of the accuracy of the calculated insurance premium and reserves using the actuary services solution KAS
  • Support for the process of calculating best assumptions and consulting on establishing R&R for each department
  • Support for the experience risk ratio calculation system and establishment of an best assumption system
  • Support for the establishment of a system to create various reports (two-way ANOVA report, premium analysis report)