Navigating risk, shaping futures
Actuarial
As the largest actuarial consultancy on the Isle of Man, we provide insights and solutions for all businesses that face significant and complex risks, not just insurers. Our risk and analytical skills along with our predictive insights help our clients to act decisively on the issues that really matter.
We blend technical skills, professional insight, and actuarial experience to tackle challenges across various sectors.
The sectors we cover include:
Insurance (life, non-life and health)
Pension
Trusts
Legal
If you have any questions or wish to explore how we can support your business, let's connect and start solving it—together.
Explore the breadth and depth of our experience and what we offer
At PwC Isle of Man, we bring a wealth of experience to the table, offering a broad spectrum of actuarial and risk management services. Our goal? To empower insurance companies, corporate entities, and all stakeholders to pension schemes to thrive in today's dynamic landscape. Dive into our capabilities detailed below.
Insurance services and solutions
We work with insurance companies to enhance their actuarial functions, refine risk modelling, strengthen capital management, and ensure regulatory compliance. This approach empowers better decision-making and boosts business resilience.
- Actuarial Function and Actuarial Support
- Insurance Risk Modelling
- Risk and Capital
- Own Risk and Solvency (‘ORSA’) and Recovery Planning
Actuarial Function and Actuarial Support
Undertaking functions and support to function holders
We can help you build and strengthen your actuarial teams, delivering real value and confidence to the boards of life and non-life insurance companies through our Head of Actuarial Function Services.
More general resource support
We're ready to offer secondments to local actuarial and data analytics teams, enhancing their resources when needed. Alternatively, we provide outsourcing arrangements to support corporates realising efficiencies and / or providing access to expertise.
Insurance Risk Modelling
Design and implementation
We assist businesses in crafting, executing, and confirming efficient and well-governed modelling systems that offer valuable insights and enhance their competitive advantage. We've collaborated with various organisations in both life and non-life insurance sectors, focusing on finance and actuarial reporting, risk and capital assessments, support for regulatory authorisations, and mergers and acquisitions.
Comfort over the numbers
Our leading expertise, combined with our audit integration and strong connections with regulators, positions us uniquely to offer confidence in your numbers and reporting systems.
Training
Our team brings extensive experience in working with a wide range of users in actuarial and insurance risk services. We offer training for boards and senior executives on insurance risk and capital modelling.
Risk and Capital
We work with you to design and implement risk management frameworks that truly connect with your business. By aligning revenue, risk management capital, and operations, we create a useful and insightful approach that improves capital efficiency and manages risks within agreed limits. We also conduct thorough gap analyses with regulatory requirements in relation to governance and risk management.
Own Risk and Solvency (‘ORSA’) and Recovery Planning
We're in a unique position to challenge and offer risk and market insights to existing ORSA frameworks, helping them adapt to our evolving environment.
While recovery planning for insurers isn't as developed as ORSA processes, the Isle of Man Financial Services Authority has set requirements for recovery scenario testing. And there's a clear trend among international insurance regulators to enforce recovery planning requirements on insurers. We can provide an independent review of a recovery plan and provided insights to support the future iteration of this plan as the framework matures.
Actuarial and Risk services and solutions
We help businesses transform digitally, apply advanced risk analysis, conduct actuarial assessments, and gain insights into people dynamics. This approach boosts efficiency, manages risks effectively, and propels strategic growth.
- Digital business transformation
- Corporate Risk Modelling and Data Analytics
- Pension and Benefit Valuations
- Expert Witness / Personal Injury Claims / Employment Tribunal Claims
- People analytics - unlocking the power of your workforce
Digital business transformation
Many businesses are looking to take advantage of the wealth of available digital tools and technology to automate repetitive tasks, reduce errors and free up time for their staff to manage critical tasks.
Others are taking on larger projects to link different systems together so that critical data are integrated and management information can be monitored in real time without having to wait for periodic reports to be manually produced.
Whether your transformation goals are big or small - we can help you identify and implement digital solutions that meets your business’s needs.
Corporate Risk Modelling and Data Analytics
Many businesses manage substantial risks with limited internal risk management teams. We can help you modernise risk management by enhancing operations with technology, using advanced data analytics and modelling, and rethinking reporting with visualisation tools to better manage your risks strategically. Recently, we collaborated with a business to refine a financial projection model, offering insights on stress and scenario testing, and effectively communicating potential outcomes.
Pension and Benefit Valuations
We bring our local actuarial knowledge to the table, while tapping into the extensive resources and tools of our UK actuarial pensions team. You can take advantage of our network's insights and technology solutions, all while having a local contact ready to discuss your unique needs.
We’re able to support in the following areas:
- Pensions Investment
- Pension Funding and Transformation
- Pensions Regulation, Compliance and Governance
- DC Pensions and Employee Benefits
- Pension Risk Transfer
- Pensions Employer Covenant and Restructuring
Expert Witness / Personal Injury Claims / Employment Tribunal Claims
We perform thorough estimate of loss calculations by projecting future income and pension losses tailored to an individual’s circumstances.
People analytics - unlocking the power of your workforce
Many organisations invest more in their people than in any other asset, yet few understand how to improve the return on that substantial investment. We help clients solve a range of people-related problems and opportunities through superior insights using the skilful deployment of data, analytics and reporting.
How we can help
At PwC Isle of Man, we're leading the way in actuarial consultancy, offering exceptional services in insurance, pensions, trusts, and legal sectors. We collaborate with you to manage complex risks through our actuarial support, risk modelling, digital transformation, pension valuations, and people analytics. Our tailored solutions help you make informed decisions, confirm regulatory compliance, and achieve sustainable growth in a constantly changing environment. We focus on creating real change by working closely with you to tackle your unique challenges. Our approach is straightforward yet impactful: we listen, understand, and act decisively to deliver results that count.
Are you ready to tackle your risk challenges? Let's discuss how our actuarial insights can help shape your business's future.
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