Wakely Actuarial

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Insurance actuaries specializing in Accident and Health Experience Analysis and Re-Rating, Cash Flow Testing, Financial Reporting and Reserve Certification, Forecasting and Experience Reporting, Merger and Acquisition Valuations, Policy Form Submission and Regulatory Compliance, Pricing and Product Development, Reinsurance Consulting and Reserve Processing.


When it comes to providing the best in actuarial services, Wakely Actuarial's core competencies are unmatched in the industry.

Along with our Specialized Practice Divisions, our actuarial professionals can assist you in these key areas:



 


 

Accident and Health Experience Analysis and Re-Rating
Our consultants have many years of expertise with monitoring and analyzing historical experience data in order to project future claim levels and recommend appropriate rate action, including:

  •  Proprietary information systems to study and report A&H experience analysis
  •  Company premium and claims transaction data collection and analysis
  •  Regular data error checks and review of data quality
  •  Loss ratio reporting and other reports required by law
  •  Recommendations for rate increase amount and timing
  •  Timely filing of actuarial documents in accordance with each state’s regulatory requirements
  •  Strategic planning and future claim level projection

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Cash Flow Testing
Our staff of consulting actuaries includes specialists in interest-sensitive life products, long term care insurance and other long duration products that require Cash Flow Testing in order to certify that the liabilities make sufficient provision to meet future policy obligations:

  •  Cost effective solutions for compliance with emerging insurance valuation regulations
  •  Analysis of sensitivity of products to interest rate changes as required by law
  •  Cash Flow Testing when liability or asset cash flows are susceptible to interest rate fluctuations

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Financial Reporting and Reserve Certification
Wakely Actuarial offers a full line of consulting services to support your valuation needs. Rely on us to provide you with accurate and timely reserve numbers, whether the figures are for your annual statement or for monthly financial statements:

  •  A full line of services ranging from Reserve Processing to representation as Appointed Actuary
  •  Design and development of policy and claim reserve systems for statutory, GAAP, and tax
     reporting, gross premium valuations, Cash Flow Testing, and preparation of statutory actuarial opinions
  •  Clear, concise actuarial work papers that are easy to audit and provide all information needed to complete financial statements
  •  Accurate and timely reporting of reserve numbers as often as you report financial results

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Forecasting and Experience Reporting
Our forecasting and sound risk management services help manage your insurance programs for long-term success:

  •  Model office projections for use as strategic management tools
  •  Expected earnings projections for a single product line, blocks of business, or an entire company
  •  Detailed annual projections for budgeting and management reporting
  •  Regular monitoring of key business drivers
  •  Design and development of claims, lapse, expense, and other necessary experience studies

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Merger and Acquisition Valuations
Wakely Actuarial's expertise in M&A due diligence and valuations will help insure you make the best decision for your business:

  •  Valuation of entire companies or blocks of business for sale, acquisition, or reinsurance
  •  Detailed work product and documentation including data quality analysis and validation, model office projections, and sensitivity analysis of results
  •  A Principal of our firm that is available throughout the bidding process to respond to inquiries in order to facilitate closing of the transaction

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Policy Form Submission and Regulatory Compliance
Through the filing of hundreds of insurance policies, our staff has gained the respect of state insurance departments across the country. Let us help you make your way through the compliance maze:

  •  Expertise in drafting life and health insurance policy forms and advertising material
  •  Extensive experience with submissions to state insurance departments
  •  Up-to-date knowledge of regulations and filing procedures to expedite policy approval
  •  Continuous monitoring of new developments in the regulatory environments
  •  A successful history interacting with state insurance departments across the country

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Pricing and Product Development
Our goal at Wakely Actuarial is to help you succeed in the marketplace with products that are both profitable and competitive:

  •  Pricing and product development services for product lines including individual life, group life,individual accident and health, and group accident and health products for the work site and senior markets
  •  Actuarial memorandum and supporting documentation required in each state
  •  Rate filing submitted for approval as part of our Policy Form Submission Services or coordination with client’s internal compliance department
  •  Separate Practice Divisions to focus on areas in which we have exceptional expertise: Life and Annuity Consulting Practice, Senior Health Consulting Practice, Supplemental Health Consulting Practice

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Reinsurance Consulting
Whether you need reinsurance for in-force business or you need to share risk on newly developed products, Wakely Actuarial can help you secure reinsurance on equitable terms:

  •  Long-term relationships with several major reinsurers as well as direct writing companies that share insurance risk
  •  Assistance with early-stage product design, pricing, and underwriting protocols to ensure
     reinsurance will be available on equitable terms
  •  Analysis of reinsurance proposals including preparation of profit projections net of reinsurance both a before-tax and after-tax basis

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Reserve Processing
While we frequently act as the Valuation Actuary for our client companies, we also provide Reserve Processing Services to clients who have in-house actuaries that perform valuation functions and are qualified to sign reserve certification statements:

  •  Proprietary information systems to calculate and report reserve liabilities for life and health insurance lines of business
  •  Collection and processing of in-force data
  •  Regular data error checks and review of data quality performed with each reserve run
  •  Custom reporting to summarize premium reserves, policy reserves, and key in force data by desired data groupings such as issue year, issue state, and product type

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Actuarial Audit and Examination
We provide Actuarial Audits on Statutory, US GAAP and International Accounting Standards Basis, as well as actuarial review and state examination services.

 

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