Staying on top of the increasing number of mandated reports to auditors, state insurance regulator is time consuming, complicated and costly. The level of data quality is often inadequate and not normalized. This leads to rework, error corrections and potential fines for erroneous and/or late reporting. Our years of reporting experience, technical expertise and data management best practices ensure the accuracy and timeliness of your financial and statistical reporting. We offer both functional and technical solutions through flexible services delivery models that consistently align with your business goals and objectives.

Risk Institute conducts segmentation and analyzes key indicators by types, rate classes, company divisions etc.

We use the best actuarial practices of the IFRS. Our experience allows to collect the necessary information operatively and to obtain results in accordance with the "best estimate" of the IFRS. Risk Institute has accumulated a considerable amount of data and statistics. Our lengthy experience allows to compare the client indicators with the market ones and determines macroeconomic trends.

For the insurance companies

We estimate insurance liabilities using different methodologies:

-          for the regulator based on the national accounting standards

-          for auditors we are basing on IFRS/GAAP,

-          for rating agencies based on the Solvency 2 and QIS5

-          for “due diligence” using different scenarios.

Relying on the extensive experience of cooperation with the "Big Four" Risk Institute helps insurance companies to pass an international audit or to get rating. We collect all the necessary data, fil the required reporting forms, give recommendations for accounting policies improvement.

For companies regularly conducting international audit, Risk Institute provides actuarial valuations required under IFRS. We engage in dialogue with the auditors during the results verification and explain specific features and local markets trends.

Risk Institute prepares actuarial report upon request. The report simplifies the reconciliation with third parties (auditors, shareholders, regulatory authorities, policyholders) and provides applied methodology description, the main assumptions and hypothesis, detailed calculations results.