PwC, through our deep industry-wide expertise and our strong global network, supports actuarial modernisation journeys across the market. The importance of achieving successful actuarial modernisation has never been more important, and after surveys in 2018 and 2020, our third global actuarial modernisation survey is our largest survey yet with over 200 companies participating from across over 30 countries.
The survey report expands on how the insurance industry is undergoing significant change and transformation in a volatile, uncertain, complex and ambiguous world. Being an integral part of insurance companies, actuarial departments play a crucial role in the ongoing change of the industry, and the transformation of these departments is a central cornerstone to drive this change. Actuarial Modernisation is a necessity for attaining company-wide goals.
The survey considers the main drivers spurring the need to modernise, the importance of actuarial modernisation to the running of a business, addressing resource shortages through process efficiency and automation strategy and the use of advanced technology for efficiency gains in actuarial departments amongst others.
To learn more about how actuaries can support insurance transformation in the best possible way, read the full report, and please contact our local actuarial team if you would like to learn about how PwC can support your transformation journey.
