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Insurance Solutions

Actuarial outsourcing

Overview

Skilled capacity on demand

With increasing internal cost pressures, growing model complexity, and a talent gap for specialist skills, many actuarial teams find themselves needing outside support. Milliman provides high-value actuarial outsourcing using teams consisting of local experts and our consultants based in New Delhi, India. Cost-effective, high-value, and scalable, our fully managed actuarial services help you focus on value-added analysis while we ensure the highest possible levels of quality in foundational work.

Solutions

Milliman outsourcing solutions

A trusted partner

Milliman uses a hybrid approach, pairing onshore consultants with offshore teams to ensure high availability, local expertise, and cost-effective capacity. This enables close collaboration and effective communication while maintaining the cost and scalability benefits of outsourcing.

Broad expertise

With our deep talent bench, our teams can provide more than the basics. Milliman can deliver top-quality outsourced services in a wide range of areas, including:

  • Business as usual reporting
  • Predictive/data analytics
  • Experience analysis
  • Model migration/implementation/optimization
  • Automation/industrialization
  • Pricing/product development
  • Statutory reserving/reporting
  • Strategy development/review
INSIGHT

Milliman outsourcing Insight

Article

Actuarial process automation and outsourcing

We discuss how insurers can benefit from automation of the actuarial process, and how a combination of automation and outsourcing can help reduce costs.

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Article

Types of outsourcing and when to outsource actuarial functions

Outsourcing of actuarial demands can be an effective solution, but companies need to carefully consider an engagement’s structure, risk, and resource allocation.

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Issue Brief

Added value outsourcing

Outsourcing has been popular among insurers for decades, but in this post-Solvency II era, insurers must develop a deeper understanding of where third-party providers can add value for their business.

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Article

Global life insurance / reinsurance actuarial outsourcing survey

Over the past couple of years, there has been renewed interest in actuarial outsourcing, with an increasing number of insurers and reinsurers either setting up new outsourcing units or expanding their existing ones. Milliman conducted a survey to assess trends in life insurance actuarial outsourcing. Outsourcing units of life insurers and reinsurers with operations in the Americas, Europe and Asia were surveyed.

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Related products

Milliman outsourcing products

Financial modelling & industrialisation

Integrate

Automate and accelerate actuarial modelling and reporting with a powerful, cloud-based solution.

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Solvency II compliance

Solvency II Compliance Assessment Tool

Monitor and assess compliance with Solvency II while creating an audit trail of completed work and a development plan for future actions.

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Related services

Milliman outsourcing services

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