Global Insurance Services

What We Do

The Global Insurance Services Practice (GIS) is a team of over 200 experienced insurance professionals supported by a global network of over 7,700 colleagues. We have first-hand insurance industry knowledge, combined with operational, technical and executional capability.

Our aim is to grow an insurance focused management consulting and actuarial practice in EMEA by focusing on the current and emerging needs of our clients. These clients turn to us for help with a wide variety of complex problems, including – providing expert testimony in claim and reinsurance disputes, providing guidance in the field of Analytics/Data, Strategy, Mergers and Acquisitions, Capital, Financial and Risk Management. We advise both household names and specialist insurers in both general and life insurance across the region.

The Global Insurance Services Practice has a number of service lines including:

Actuarial

The actuarial area of the practice offers a wide range of services in the actuarial field, including (but not limited to):

• Pricing & reserve calculations – Helping insurers charge the correct premiums for their products (e.g. car insurance) to reflect the risks they are taking; and ensuring they hold an appropriate amount of financial resources to both comply with regulation and give comfort to policyholders that their claims will be paid.
• Capital & reinsurance modelling – Looking at all (financial and non-financial) risks faced by an insurer to calculate the amount of additional financial backing needed to cover the volatility of these risks. This involves carrying out modelling of different scenarios to ensure the amount of resources held is sufficient under different environments that the company may find itself in, in the future.
• Liability estimation – Using actuarial techniques to calculate the amount a company should hold on its balance sheet so the claims of policyholders can be paid as they become due. We offer services to both the life and general insurance areas of the actuarial profession.

Litigation, Dispute Resolution & Claims Consulting (LDRCC)

The Litigation, Dispute Resolution & Claims Consulting area of the practice offers a wide range of services related to the mitigation and resolution of insurance coverage disputes, for general insurance areas. Types of claims analysed include both commercial and personal lines such as: Property & Casualty, Construction, Professional Indemnity, D&O, General Liability, Accident & Health, Workers´ Compensation, Medical Malpractice, Marine, Aviation, Cyber, Motor, Home, Pet and Travel.

We aim to give the successful candidates exposure across the sector and train those individuals to become insurance experts. The primary work a graduate will be involved with includes (but is not limited to):

• Litigation & Dispute Resolution – Defending international insurers against large complex claims. Generally, the claims are presented by multi-national corporations. The analysis relates to the evaluation of the insurance coverage, quantification of the potential loss, and application of relevant legal precedences and development of appropriate defences and technical insurance arguments in conjunction with external or internal counsel.
• Forensic Analysis – Review of large volumes of data to identify trends and anomalies to assist in the forecasting of liability. Forensic work also relates to the analysis of financial transactions to determine if premium and commissions were calculated and reinsurance ceded appropriately.
• Mergers & Acquisitions due diligence – Analysing a potential sale or purchase of an insurer or liabilities from a corporate entity from a commercial, strategic, financial and/or accounting and operational standpoint.
• Liability estimation – Using statistical and quantification techniques to quantify potential liability an insurer or reinsurer may face to support litigation, settlements, reserving and business operations.

Mergers & Acquisitions (M&A)

The Insurance M&A and strategic advisory team provides insurers, private equities and other insurance investors a variety of M&A and strategic services including strategic reviews, advisory on acquisitions, divestments, leveraged buy-outs, carve outs and capital raisings.  The team focuses on transactions in Europe and works with some of the most active investors in the insurance sector. The M&A team plans to grow significantly over the coming years and are looking for top talent with an impressive academic and professional background to join our expanding Insurance practice.

Advanced, Analytical, Digital and Data (AADD)

The AADD function is a rapidly growing part of the GIS function. Our main purpose is to help insurers leverage data and analytical technology to maximise business value by using value-optimising state of the art techniques. We operate in both life and general insurance spaces.  As an integral part of the AADD team, we are looking for graduates in this space to develop into high quality data/analytics professionals having in-depth knowledge of insurers’ operations and commercial objectives.

The AADD function has the following service offerings:

• Pricing and Portfolio Analytics – Traditional, technical advisory services
• Machine Learning Technology & Ecosystem – Advisory services on the latest pricing capabilities in the market
• Data/Analytics as a service – High volume, low price transaction service
• Future State Artificial Intelligence and Alternative Solutions – Experimental applications of AI/ML and other closed form techniques
• Analytics/Data/Underwriting Strategy and Transformation – Tailored advisory services to our clients to meet specific needs that fall outside the previous four offerings

We aim to give the successful candidate exposure to a variety of fields and thus a wide variety of experience in the very varied elements of work carried out by actuaries.