The Property and Liability Actuarial Process

Irrespective the risk management technique, be it self-insurance, group pooling, Risk Retention Group, captive, or other medium, IBC’s process begins in the same way – by ascertaining your needs. Our process encourages feedback at each stage. In collaboration with you, our actuaries implement innovative approaches to the analysis of your complex issues, providing you solutions that can lead to better business decisions. While each engagement is unique, our actuarial process typically follows these steps:

  • Determine client needs and objectives
  • Ascertain regulatory constraints and compliance requirements
  • Compile data for the analysis
  • Identify appropriate actuarial methods and/or models
  • Implement selected techniques
  • Develop and review preferred metrics
  • Convey preliminary results and solicit client input
  • Review and, if appropriate, revise estimates
  • Communicate independent findings and professional analysis in understandable reports and presentations
  • Monitor development and effect adjustments to process phases as necessary

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