Trust can be hard to earn but often easy to lose. This is especially the case with complicated and complex businesses and processes. As the models that companies develop and use also become more complex, many different stakeholders are holding companies responsible for their fairness and effectiveness. This is where PwC’s Trust Modeling team can come in. Our group of multidisciplinary subject matter specialists have trusted frameworks as well as emerging methods and tools to help provide stakeholders with an independent opinion on these critical models and processes.
"91% of business executives say their ability to build and maintain trust improves the bottom line."
Our services include:
Model assessments
Pairing Risk Modeling Service knowledge with industry-leading professionals, our approach to assessing AI and other complex models focuses on results. The work often includes independent reperformance and assessments of the approach developed. The result for our clients is an assessment including technical and business evaluations and increased transparency that can help explain the results.
Insurance model management and opinions
In addition to regulatory pressure from various supervisory jurisdictions around the globe, boards want insurers to have strong model risk management practices in place throughout various models in their organization. We can assist with your risk management framework from first line model development and ownership responsibilities through second line model oversight and independent assessments to third line assessment, as well as the overall health of an entity's model risk management. PwC’s Risk Modeling Services team has deep experience across the whole insurance industry and models for decision making, risk management, and financial reporting. In addition, we have experience with these in each stage of the model development life cycle.
