IFRS17 In Your Future
General Insurance
Welcome to Virtual ACTUARY
The hi-tech approach
Virtual Actuary is a firm of highly experienced actuaries ready to work along side your existing team, in any of your insurance, banking or investments projects.
ABOUT
New Tech and a revolutionary method
New technology enables actuaries to perform their services independently and offsite. With clients under pressure to reduce costs, leading to reduced actuarial departments. Global shortage of actuaries means a new Virtual workforce of actuaries is the future of work.
Plan
Pre-emptive
We believe that one can pre-empt
a future outcome by utilising
a system of proven techniques
and a team of experts who specialise
in the science of uncertainty.
CALCULATE
Precise
We exact, accurate, correct,
error-free, specific, detailed,
unambiguous, definitive, particular,
rigorous, strict, and methodical.
Actuarial science is any and
all of the above.
SOLVE
Practical
We aim to provide realistic solutions
to complex problems with a long
term forward look.
IRFS17 EXPLORED
IFRS17 Services
Click on one of the sections to read more.
IFRS17 policy and methodology
- We can provide a list of IFRS17 policy and methodology choices that you have to make
- Drafting of P&M papers
- P&M investigations and Impact assessment of various P&M choices
IFRS17 architectural design and business requirements
- Identifying new components required
- Identifying existing components that can be leveraged
- Drafting a target operating model under the new IFRS17 environment
IFRS17 vendor assessments
- Assisting with drafting requests for proposals to IFRS17 vendors
- Summarising the architectural components offered by various vendors from vendor proposals
- Proposing combinations of components from various vendors that will fill the gaps in your current systems architecture
IFRS17 vendor implementation (configuration and validation)
- Assisting with understanding data input requirements
- Assisting with the initial transformation of data to vendor input requirements
- Assisting with configuration of the system
- Drafting testing strategies for user acceptance testing
- Hands-on help with automating the functional testing process
IFRS17 data transformations & ETL automation
- Building robust data staging platforms
- Assisting with establishing the logic required to transform company data to vendor specific input formats
- Automating data transformations with the latest software on the market
IFRS17 CSM prototype model builds
- We offer ready to use CSM prototype models
- We can also assist with building CSM prototype models
- We can assist with leveraging current models you have internally to develop your own CSM prototype models
IFRS17 transition software (to automate transition calculations)
- Assistance with developing a transition strategy
- Assistance with managing the data required for transition calculations
- We provide ready to use software which can automate the IFRS17 roll-forward calculations from inception to transition date
Blog
IFRS17 News
Here you can discover our own in-house expert articles.
International IFRS17 implementation status update
How far are insurers with their IFRS17 implementation journeys? The past three years have been filled with IFRS17 implementation activities and I think it’s safe to say most of us have been involved with one-of-a-kind and exciting projects. This, I believe, is...
International IFRS17 implementation status update
How far are insurers with their IFRS17 implementation journeys? The past three years have been filled with IFRS17 implementation activities and I think it’s safe to say most of us have been involved with one-of-a-kind and exciting projects. This, I believe, is...
Why are we implementing IFRS17 again?
The main reason for implementing IFRS17 Going through the process of implementing IFRS17 one quickly realises the vast impact this standard has on an insurer. It’s probably one of the most costly standards ever to be implemented by insurance companies. One...
Services
Our comprehensive services are at your disposal.
IFRS17
IFRS17 Policy & methodology, architectural design & business requirements, vendor assessments, vendor implementation (configuration & validation), data transformations & ETL automation, CSM prototype model builds & transition software (to automate transition calculations).
Non-life General Insurance
Reserving, Capital modelling, Pricing, Risk management and Solvency II’ We provide a full and comprehensive service offering covering among other things.
Investments
We have access to a variety of top actuarial investment experts and juniors, and projects we have been involved in have been far from standard.
Life Insurance
Individual and Group Life.
We provide a full and comprehensive service offering.
Wider Fields, Telco AND Advanced Analytics
At Virtual Actuary, our advanced data analytics team takes your data security extremely seriously. We use end to end encryption, secure and POPIA-compliant storage facilities.
Healthcare
Estimation of IBNR (Incurred but not reported) Claim Liabilities, loss ratio and claims utilisation studies, reserving and modelling.
TEAM
Meet Our Experts
Our team of experts offers a comprehensive range of actuarial services founded on a depth of experience acquired locally and globally.
Johan Vrolijk
Co-CEO
“I do actuarial stuff.”
Jacques Naude
Principal Data Scientist
“I’ll help you get the data to make sense.”
Pierre Chandre Pelser
Life and Big Data Actuary – Manager
“Being an actuary is a privilege. I want to make a difference in the lives of South Africans.”
Andrew Sharpe
Global head of Life, Reinsurance and ERM
“Let’s really talk about Enterprise Risk, Solvency and other fun related topics.”
Andre Erasmus
IFRS17 Implementation
“Passionate about IFRS17 and getting you over the line before 2023!”
Rob Baker
Overseeing InvestmentTeam
“A seasoned Investment professional who enjoys the challenge in everything he does.”
Jessica Blignaut
Quants and Risk Analyst
“Each assignment will impact so many people’s lives, how amazing is that!”
Tania Van Der Merwe
Insurance Valuations and Regulatory Manager
“If you look closely, you will realise those big companies are run by people”
Thinus van der Merwe
Life Product Design and Pricing Manager
“Achieving a structured solution which makes company and client happy, is the goal.”
In the News
Here are some stories featuring Virtual Actuary in the news.
VIDEOS
Virtual Actuary video and social media.
Contact
Get In Touch
Please use the email form below to contact us.