product development and risk modelling

Life insurance product development and risk modelling are pivotal aspects of a life insurer's operations. Our team's unparalleled experience in insurance, reinsurance and microinsurance product development is used by a variety of reinsurers and insurance companies in South Africa and throughout Sub-Saharan Africa. In the product development arena we are renowned for our innovation, cutting edge technical expertise and market insight. Life insurance product design involves amongst other things: setting risk rates, being creative with respect to product features, investigating past experience and applying an in-depth knowledge of market dynamics to product design.

Our risk modelling expertise comprises both the execution of relevant experience investigations (for example risk and expense experience investigations) as well as the determination of risk rates for a wide range of life and health products. These risk rates include mortality, disability, illness and AIDS rates.

We compliment our product development and experience investigation by offerings with specialised statistical analysis. This ranges from detailed claims experience investigations on existing life and health books to analyses of general business problems such as customer retention studies and the analysis of profit drivers.

We therefore assist our clients throughout the entire process of the development of a new product. For clients who already have advanced product concepts, we are able to provide the technical expertise necessary to set appropriate premiums, refine concepts and take existing products to new levels.