Actuarial Valuations of Defined Benefit Plans
We provide high-quality professional actuarial valuation services to employers.
We help clients with maintaining appropriate provisions posed by defined benefit plans and meeting reporting requirements posed by a variety of accounting standards.
We use Projected Unit Credit Method (PUCM) using cash flow projections and relevant plan provisions to derive the appropriate balance sheet provision.
We help clients assess, prepare and manage financial consequences of past and future events and effectively manage how those events impact their financial statements.
We also test how well decisions made in the past hold up when and conditions change. Using client’s historic data and market intelligence, we provide advice that is independent, objective, and fitted to each client’s unique situation.
Our process is grounded in data and risks are quantified with actuarial and statistical techniques. We evaluate and model the risk and uncertainty posed by defined benefit plans. We provide credible documentation for your internal records, and we offer practical solutions to real-world problems.
Our clients demand the best from us. We take our deadlines seriously and our track record shows it. We work closely with your team to make sure the inputs we receive are appropriate, which is what allows us to deliver on time and with care.
Our work with employers of different sizes and industries gives us a wide view of how these challenges play out in practice. We bring that to every engagement, so you get strong value at a reasonable cost.
Our specialty areas include,
- Actuarial valuations of Gratuity, Privilege Leave, Sick Leave, Post Retirement Medical Benefit, and Defined Benefit Pension.
- Reporting as per IGAAP (Accounting Standard 15, Revised 2005), IFRS (International Accounting Standards 19, Revised 2011) and USGAAP (Accounting Standards Codification 175).
- Advisory for annual contributions towards funded plans.
- Mining of historic data to set realistic and long-term valuation assumptions.
- Back-testing of financial and demographic actuarial assumptions.
- Experience Analysis.
Non-Life Valuation and Reserving
Reserving
We help clients estimate what they will ultimately owe for obligations that have already been incurred, using methods suited to the shape and maturity of their data.
We test the results against actual experience, document the reasoning behind each choice, and present the outcome as a range with a clear best estimate, so decision-makers can see both the number and the uncertainty around it.
Basis reviews
A reserving basis is only as good as its last review.
We examine your existing methods, models, and assumptions to see whether they still reflect your portfolio, your claims environment, and your regulatory obligations.
Where the basis has drifted from experience, we show you where and by how much, and we advise on deviations observed.
Back-testing of Assumptions
Every reserve depends on assumptions about claim frequency, severity, payment patterns, inflation, and more.
We back test assumptions from your own data. Each assumption is documented with its source, its rationale, and its sensitivity, so you know which ones matter most and can revisit them as underlying experience changes.
IBNR Reserving
Incurred but not reported (IBNR) reserves cover claims that have occurred but have not yet reached the insurer, along with expected development on claims already reported.
Because this liability cannot be observed directly, it must be estimated carefully. We apply recognized projection techniques, compare their results, and reconcile the differences, rather than relying on a single method.
We also review the quality of the underlying loss development data, since the reliability of an IBNR estimate rests on it. The result is an estimate that is transparent, reproducible, and ready to withstand review by stakeholders.
Areas of specialty
- Reserving and IBNR valuations.
- Loss ratios and loss development data.
- Basis Reviews.
- Future claims cost projections.
- Multiple lines and business segments.
Microsoft Power Platform Solutions for Non-Life Reserving, Automation and other Actuarial Work
Reserving teams spend much of each quarter assembling data, building triangles, reconciling numbers, and preparing packs, which leaves less time for the judgment the work actually needs.
We use the Microsoft Power Platform to automate that groundwork, so your teams can spend their time on the analysis. Because we work with the Microsoft tools you likely already use, the solutions fit your existing environment.
Our core services
- Reserving analytics development. We design and build Power BI reports, dashboards, and data models around your reserving process, from claims data to the figures your reserving committee reviews.
- Data consolidation. Claims data tend to spread across multiple systems across various geographics. In such situations, collating claims data in a single spreadsheet itself is a challenge. We use Power Query and Power Pivot in consolidate data in one place and manage to keep the
- Actuarial team augmentation. We join your team to fill skill gaps in Power BI, Power Query, DAX, and Power Automate, and work within your existing reserving calendar and controls.
- Managed reserving reporting. We run your reserving reporting environment each cycle, covering data refreshes, reconciliations, maintenance, and enhancements, so the quarterly cycle does not depend on one person’s spreadsheet.
What we build for reserving
- Claims data preparation (Power Query). We connect to your claims, policy, and premium sources, clean and reconcile the data, and shape it into the consistent, auditable form reserving requires. Every transformation step is recorded, so you can trace a number back to its source.
- Alternatively, use Power Pivot to collect the data and consolidate the same in Excel for better visibility of figures.
- Loss triangles and development analysis (Power Query, Power Pivot, and DAX). We build paid, incurred, and claim count triangles by line of business, accident or underwriting year, and any other segment you need. Development factors and diagnostics are calculated consistently and refresh with each new data cut.
- Actual versus expected monitoring Dashboards compare emerging claims experience with what your reserves assumed, with drill-down from portfolio to segment, so deviations are visible early rather than at year end.
- Reserve movement and ultimate loss ratio reporting .We build views that show how best estimates, IBNR, and ultimate loss ratios have changed since the previous valuation and what drove the change.
- Reserving committee and management packs. We produce interactive packs that replace static slide decks, with the supporting detail one click away when a question comes up in the meeting.
- Quarter-end workflow automation. We automate recurring steps such as scheduled data refreshes and reconciliation checks.
A note on scope
Power BI is not a reserving engine, and we do not position it as one.
Selection of methods, assumptions, and best estimates remains with your actuaries, using whatever tools they prefer.
Our role is to build the data foundation and the reporting around that work, so the analysis is faster to produce, easier to review, and consistent from one cycle to the next.
What we aim to achieve
- Less time on preparation. Triangles, reconciliations, and packs are refreshed rather than rebuilt each quarter.
- Earlier warning. Actual-versus-expected monitoring shows adverse development while there is still time to respond.
- Consistency and traceability. The same definitions, data lineage, and controls apply every cycle, which supports audit and regulatory review.
- Better conversations with management. Interactive reporting lets reserving results be explained and questioned in the room.
- Boutique Solutions – Every solution reflects your lines of business, reserving segmentation, and valuation calendar.
We offer flexible engagement models, whether a defined build project, an embedded team, or an ongoing managed service depending upon the project, deliverables and convenience.