Accident compensation covers a variety of schemes which display many of the features of both insurance and social support systems, including:
- Workers compensation
- Transport accidents
- Medical indemnity
- Catastrophic injury and
- Personal injury compensation more generally (e.g. public liability).
PwC Actuarial has a particular emphasis on providing actuarial advice to accident compensation schemes where we believe we are the clear market leader both in terms of breadth of coverage and thought leadership. Our reputation has grown out of a commitment to excellence and a strong desire to ‘make a difference’ in social systems.
Our commitment has led to significant investments in systems, research and development and to an integrated staff structure, which now covers the spectrum from highly technical modeling and data mining skills right through to hands-on experts in occupational health and safety, injury management and acute health care, aging, disability and community care. Areas of work include:
- Valuations, funding advice and financial reporting
- Premium rates and structures
- Performance monitoring and benchmarking
- Achievement of non-financial objectives
- Remuneration and incentive systems for insurers and agents
- Governance
- Statistical case estimation and data mining
- Dust disease investigations
- Self insurer reviews
- Claim and injury management programs
- Workplace safety and injury management initiatives
- Cost and impact of legislative reform
- Scheme design, reform and policy development
- Stakeholder engagement and consultation
- Capital management and risk margins.
