Powering actuarial modernization journeys with data science
Wipro’s Actuarial Services
Insurance companies invest heavily in actuarial systems, process standardization, and automation to carve a secure future landscape. Wipro helps insurers simplify their actuarial infrastructure and achieve cost efficiency by identifying ways to streamline their actuarial and finance reporting functions.
Strengthening engagement with a leading US-based life insurance company: In November 2021, Wipro entered into a strategic partnership with the client to drive operational efficiencies and business transformation. By onboarding an actuarial team, we now cater to the life and annuities closed block businesses, providing support in the areas of actuarial, risk management, and finance & reporting. We combine client’s expertise with Wipro’s domain and transformation capabilities, thereby ushering in a new area of innovation and continuous improvement.
Our ‘Actuaries on Demand’ offering helps business leaders respond to customer needs by driving end-to-end modernization across liability valuation, solvency capital, actuarial modeling, risk management, and regulatory and shareholder reporting. Our actuarial and insurance analytics capabilities enable you to lower your CapEx, manage the macro and micro effects of changing reporting requirements, and facilitate smart actuarial transformation. Wipro’s smart cloud computing helps clients with data on-demand, warehouse creation, financial modeling, and actuarial modernization. In addition, personalized, data-driven insights help to garner consistent and meaningful interpretation and analysis of data.
Wipro’s range of offerings includes:
Reserving: In-force creation, reserve calculation, liability reporting, and roll forwards, supporting both in-force and closed business blocks,
Actuarial modeling: Production support, model development, testing and maintenance, and model migration,
Reporting: Shareholder and regulatory including risk management, LDTI, and IFRS 17,
Pricing: Support on technical pricing, portfolio analysis, rate filing, and product quality assurance.
And, we engage through FTE (full-time), consultancy, and project modes.
