This case study describes how Solutions for Life was employed for an outsourced actuarial services project for Chesnara in 2015.
The following headline benefits were delivered to the client:
- A significant reduction in the working day timetable, with 32 working days reducing to 10, representing a 69% improvement.
- A 50% reduction in the resource required to perform a quarterly valuation.
By employing certain elements of the Solutions for Life portfolio Willis Towers Watson were able assist in the systemisation and automation of actuarial processes and deliver a higher quality service. We reduced the working day timetable, as well as both the operational cost and risk associated with delivery, by streamlining processes and removing manual work.
About Solutions for Life
Solutions for Life is a comprehensive, integrated portfolio of software tools and consulting services that provide cutting-edge solutions across all areas of the modelling process that help save time and money, comply with regulatory demands and optimise legacy systems.
It is made up of four main components:
- Best of breed software tools
- Flexible infrastructure
- Integration capability
- World-class advisory and support services.