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Cost Management

In an era of persistently low interest rates, increasing price transparency and sweeping regulatory change, reducing or getting the most from their existing cost base is crucial for insurers to deliver competitive advantage, profit and shareholder value.

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We support clients in creating the environment, processes, governance controls and management information they need to manage expenses effectively and ensure sustainable profitability. This involves an unreplicated combination of actuarial consulting, technology and outsourcing solutions that we tailor to the specific issues our clients face.

How we can help

Areas where we help companies get the most ‘bang for their buck’ from the costs of doing business include:

  • Underwriting
  • Pricing
  • Claims
  • Reserving
  • Financial reporting
  • Risk and capital management
  • Marketing

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WTW provides a wide range of actuarial function consulting services, as well as providing full or partial outsourced actuarial function teams to suit client’s needs.
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In recent years there have been considerable changes in global financial and regulatory reporting. These changes bring some very specific challenges for insurers’ finance and actuarial teams, including the need to produce numbers and analyses ever quicker, with greater transparency and with more stringent governance and controls.
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Insurers face multiple investment challenges, including a low yield environment, evolving regulatory and accounting developments, increased systemic risk, incorporating sustainability, and managing risks that seem skewed to the downside. Never has working with the right advisers been more important.
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Where to play? How to win? In a world of constant change, every insurer needs to be vigilant and agile, ready to fix, grow or transform their business to maintain a compelling answer to these questions.
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