YOUR ACTUARIAL PARTNER

About Us

Pre-emtive

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.

 

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.

 

Practical

We aim to provide realistic solutions
to complex problems with a long
term forward look.  

 

LET US BE YOUR ACTUARIAL SERVICE PARTNERS
BECAUSE WE STARTED THIS BUSINESS
SO YOU COULD BE SUCCESSFUL IN YOURS

Services

We are Specialists of Actuarial, Insurance & Risk, Investments and Advanced Analytics services.

 

Here are our seven primary services:
LIFE INSURANCE

Individual and Group Life

We provide a full and comprehensive service offering covering among other things:

Product Development:

Product Development of new innovative products.

Product knowledge for the following countries: Botswana, Ghana, Kenya, Lesotho, Malawi, Mauritius, Mozambique, Namibia, Nigeria, Swaziland, Tanzania, Zambia and South Africa

Products include: Group and Individual for Life and Funeral cover, Credit Life cover, Pension Fund investment, Disability, PHI, Dread Disease & other riders, Micro insurance and mobile solutions providers, health insurance.

Financial Reporting:

Valuations including statutory valuation responsibility for life assurer, reinsurer, friendly society, cell captive or start-up insurers

SAM / Solvency II implementation and review

  • Solvency Capital Requirement
  • Internal model
  • Own Risk Solvency Assessment

Embedded value calculations

IFRS17 formulation, preparation and implementation

Reinsurance:

Advising and implementing reinsurance arrangements to enable efficient capital management

Risk and capital management:

Asset liability modelling, liquidity and market risk management

Economic Capital Modelling and Risk Capital Allocation and optimisation

Software:

Support in using and managing actuarial cash flow modelling systems (Prophet, MoSes and Mo.net).

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:

 

 

 Reserving
  • Traditional triangulation reserving models and exposure based methods when claims experience is unreliable or inappropriate
  • Calculation of Technical Provisions for Solvency II and SAM
  • Implementation of reserving and technical provision processes in a range of platforms
  • Stochastic reserving methods including ultimate one-year reserve risk views
  • Assessment of the impact of IFRS 17

Capital modelling

  • Stochastic and other non-stochastic capital modelling techniques
  • Calibration of premium and reserve risk models for Solvency II and SAM
  • Implementation of capital models in a range of platforms
  • Methods used in the market-leading catastrophe models
  • Methods used by proprietary Economic Scenario Generators (ESGs)
  • Capital allocation methods
  • PPO modelling methods
  • Optimization of outward reinsurance

Pricing

  • Traditional personal and or commercial lines and London Market pricing techniques
  • Stochastic pricing methods for pricing reinsurance or complex commercial risks
  • Creation of pricing analytics for underwriters and management
  • Creation of connected pricing models online or with full database support
  • Optimisation methods for pricing and portfolio re-balancing
  • Application of machine learning techniques for pricing and portfolio segmentation

Risk management and Solvency II / SAM

  • Design and implementation of capital model validation
  • Standard formula calculations and commonly accepted approaches
  • Solvency II legislation and Internal Model Application Process requirements
  • Lloyd’s and PRA reporting requirements such as Lloyd’s Capital Returns and Quantitative Reporting Templates
  • Construction of Solvency II and SAM documents, such as policies, frameworks, logs or reports
  • Effective communication of risk information from capital models or other risk indicators to Risk Committees and Boards
BANKING

The Banking team is almost ready to go to market

We’ll be launching this team as part of Virtual Actuary very soon hopefully.
INVESTMENTS

Below is a list of services we can offer on the investment side:

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; involving inter alia big data sets, unconventional assets and locum positions. We have become adept at doing the weird, messy and difficult jobs which nobody else wants.

Locums

  • Providing experts to temporarily occupy empty positions in corporates (e.g. whilst hiring).
  • If needed, the locum may document the processes and people involved in the position, for easy transition, and permanent storage of intellectual capital.

Unit Trusts:

  • Investigating Asset Liability Mismatches
  • Calculating per client adjustments to make to correctly compensate for historical transactional errors, and unit pricing errors.  We are experienced at working with big datasets.
  • Setting fees, setting up funds[1]
  • Managing co-naming / co-branding / white labelled agreements
  • Engaging FSCA regarding the regulatory environment
  • Platform management & improvement[2]
  • Assessing & improving overall fund offering[3]

Fee Disclosures:

  • Disclosure: Calculating TERs and transitions costs

Market Research:

  • For new and existing investment fields
  • Setting up capabilities for new investment fields

Liability Driven Investments

  • Market Research
  • Proposing, building and Reviewing models
  • Marketing & sales advice

Alternative Investments

Future Studies

Peer reviews

Complex calculations

Transition Management

 

[1] FSCA actions, administrators, determining launch TER, … [2] For example, IT interface, fund fact sheets, member queries, graphing and other displays, etc [3] For example, the Mandate

PENSIONS

We advise trustees and companies on the management of their pension schemes and more

We provide a full and comprehensive service offering covering among other things:

Pension Fund valuations and calculations

  • Comprehensive statutory valuation services, with sign off from our specialist valuator
  • Individual member calculations on retirement/early retirement, withdrawal, death, disability or any other quotation requested
  • Reserve account build-ups, liability values or investment return calculations for the purposes of a fund’s financial statements

Accounting Valuations for the purposes of companies’ financial statements

  • Valuations of Defined Benefit Pension Funds, Post-Retirement Healthcare Benefits, Long Service Awards, Retirement Gratuities, Severance Benefits and any other Defined Employee Benefits
  • Valuations under the IAS 19, FAS 158/ASC 715 and GRAP/IPSAS 25 accounting standards
  • Knowledge of the environments of South Africa, Namibia, Nigeria, Malawi, Swaziland and other African countries
  • Impact assessment of benefit changes on companies’ balance sheets.

Advice on and impact of benefit structures changes

  • Defined Benefit to Defined Contribution conversions
  • Contribution rate changes for Defined Contribution funds
  • Cost/Benefit analysis on de-risking or insuring benefits
WIDER FIELDS, TELCO AND ADVANCED ANALYTICS

Advanced Analytics as an X factor

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; which have strict, legally enforceable privacy policies as well as secure data management policies which are resistant to social engineering. Your data will be so safe, you might want to keep it with us.

Our philosophy with advanced data analytics is that the results must affect your bottom line. Vanity metrics and dash boards which do not engage with or enhance business decision making are, at best, a waste of your time and money. We deliver products that integrate into your business seamlessly; providing insights which positively affect either growth, revenue and/or savings. We strive for results that will become a standard part of your operations and ongoing quest for business excellence.

A major part of advanced data analytics and artificial intelligence adoption within your business involves risk. Often, the solutions we provide have never been done before and this is the nature of innovation. As such, our risk management strategy involves high-frequency feedback (typically every week) as well as key data driven metrics which quantify the potential of the project to be a success (from a return on investment perspective) at every stage of development.

Our team has an eclectic skill set and has experience from a wide range of industries. From cybersecurity, marketing and advertising, engineering and software development to private equity and strategy consulting. We offer a mature, fully-featured, and extremely technically skilled service. We have developed algorithms that optimise advertising spend and customer lead acquisition, we have engineered automatic pricing systems, we can infer proprietary information using only publicly available data and have expertise in automatic fraud detection methods.

Our goal is to assist you with your journey through the 21st century’s industrial revolution and to partner with you in delivering world-class value to your customers and shareholders.

We are proud to design and implement financially and ethically responsible artificial intelligence products.

HEALTHCARE

Healthcare

We would be delighted to discuss any of following:
  • Estimation of IBNR (Incurred but not reported) Claim Liabilities, loss ratio and claims utilisation studies, reserving and modelling
  • Assisting, refining and developing pricing methodology and best practices and assessing impact studies, processes for in-force business including experience analysis
  • Various experience formulas and applications including determining appropriate stop loss rates, demographic and claims experience
  • Forecasting of future premium claims based on various deductibles, environmental changes, regulatory changes, new or generic drug availability, new available procedures as well as risk adjustment enhancements
  • Creating of various models taking into account trends, payment levels and selection issues, advice on amendments to regulations and legislation
  • Post- Retirement Medical Aid Valuations: Performing entire valuations process from start to finish, including data requests, calculations, checking and drafting of the valuation report
  • Working with underwriters and various business units to apply models specific to groups
  • Working with business units to determine where new business rate levels should be set, and which renewal increases roll over from existing arrangements
  • Development of a range of risk management and managed care programs to drive claim cost down and improve healthcare outcomes for patients
  • Redesigning and costing of service provider tariffs or reimbursement models
  • Developing dynamic activity-based costing and demand models
  • Interacting on all Health Reinsurance matters including risk sharing arrangements

OUR TEAM OF GLOBAL ACTUARIES ARE READY
TO BECOME YOUR ACTUARIAL RESOURCE

Our Team

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

 

“I think being an actuary is the best job in the world!”

   Andrew Sharpe
  Global head of Life,
  Reinsurance and ERM

 

“Let’s really talk about Enterprise Risk, Solvency and other fun related topics.”

  Jayesh Bhana
  Country Lead – Australia 

 

The team is well positioned to cater for various projects across your business.”

 

   Rob Baker
   Overseeing Investment
   Team

 

“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 life, how amazing is that!”

   Theunis Johann Van
   Rooyen

   Life and Big Data
   Manager and Mentor

 

“Actuaries consulting virtually makes perfect sense to me.”

  Thinus Van Der Merwe
  Life
  Product Design and Pricing
  Manager

 

“Achieving a structured solution which makes company and client happy, is the goal.”

AN AWARD WINNING CONSULTANCY

In The News

Here are some stories featuring Virtual Actuary in the news.

#LockdownLessons: Virtual Actuary

#LockdownLessons explores the impact of the Covid-19 pandemic on businesses, how they prepared for lockdown and its impacts on operations and employees, as well as lessons, learned that we can take into the post-Covid-19 era. Virtual Actuary is a team of experts...

Ensure 24 months runway if you want to raise VC funding now, says venture capitalist

Startups that are not venture capital (VC) funded and are looking to get VC funding, should have a minimum of 24-months worth of cash in the bank or secured revenue, in order to close investment, says Kalon Venture Partners CEO Clive Butkow. Talking in a Zoom video...

BizNews Article March 2019

Eyeing a US expansion, Adi Kaimowitz’s Virtual Actuary takes off 8th March 2019 by Gareth van Zyl JOHANNESBURG — In a previous podcast with BizNews in 2018, Cape Town-based Adi Kaimowitz told us all about his interesting startup...

VentureBurn.com Article Jan 2019

SA startup Virtual Actuary may consider ‘combo valuation’ with US partner Six months after turning down an investment offer from a major SA insurance company, SA startup Virtual Actuary is in the US for talks with venture capitalists — including some who are keen to...

Hartford Insurtech January 2019 Talk

Hartford Insurtech January 2019 Talk - Hartford Connecticut USA Virtual Actuary invited to speak in the United States of America about disruption in the actuarial world.

Business Spotlight: Virtual Actuary – Shaking up the Actuary industry worldwide

Welcome to the first episode of business spotlight, where I will be chatting to interesting people about their businesses. What a better way to start this series than by chatting to a good friend of mine that has shaken up the Actuary industry worldwide! I first met...

Sramana Mitra’s 1Mby1M Roundtable with Adi Kaimowitz from Virtual Actuary

Sramana has been named LinkedIn’s #10 Top Influencer. Here she discusses Virtual Actuary at her virtual round table episode 421.

YourBusiness Magazine Article October 2018

Virtual Actuary uses SMART TECH solutions HERE'S HOW I DID IT ADI KAIMOWITZ, co-founder of Virtual Actuary, spends more time out of the office than in it. Here he shares the tools that allow him to do this and still run a growing business. Which key tech tools allow...

MoneyWeb.co.za Article August 2018

Local start-up promises actuaries on demand Tech-driven business promises low fees and more pay for actuaries.  From on-demand ride hailing to meals on wheels platforms, consumer convenience has driven advances in technology and its applications. Similarly, local...

Fast Company Magazine Article July 2018

The importance of technological innovation in the actuarial industry The Fourth Industrial Revolution brought about by Artificial Intelligence has caused a tidal wave of possible change in the actuarial profession. Their success will depend on how they adapt to future...

VentureBurn.Com Article July 2018

SA entrepreneurs detail the software they use to run their tech start up Jira, Google Suite for Business, Ruby on Rails and fathomhq. These are just some of the software programs that SA tech entrepreneurs are using to set up their startup. Ventureburn spoke to...

Disrupt-Africa.com Article July 2018

How SA’s Virtual Actuary is disrupting a long-stagnant market By Tom Jackson on June 20, 2018 Adi Kaimowitz knows a thing or two about the actuarial space, having run a recruitment business in the sector and worked with actuaries for years. What we saw concerned him....

VentureBurn.com article July 2018

SA web platform Virtual Actuary turns down bid from major insurance firm Things are hotting up for SA web platform Virtual Actuary, which allows actuaries to collaborate on projects without the need for expensive offices. The startup last week turned down an...

YourBusiness Magazine Article June 2018

Ask The Experts Growing a business takes time and resources; time and resources you may not feel you have. When you start feeling this tension, it might be time to consider getting some help... For entrepreneurs, time is almost as valuable as money, as both a...

Finweek Magazine Article May 2018

Actuarial Consulting Gets a Makeover After working as an actuarial recruiter for more than eight years, Adi Kaimowitz wanted to do something with the network of actuaries that he'd built up. He considered four business models, until he finally came up with one that...

Biznews.com Article May 2018

Shaking up the actuarial industry: Backstory of Adi Kaimowitz’s ‘Virtual Actuary’ 22nd May 2018 by Gareth van Zyl JOHANNESBURG — With a background in sales and marketing, and after having made connections with several actuaries over the years, Cape Town-based Adi...

Financial Mail Magazine Article March 2018

Another way to do it It takes courage and self-belief to list on the JSE in budget week. But the Core Shares Global Dividend Aristocrats is no "me- too" fund. This exchange-traded fund (ETF) gives investors and their advisers the chance to take a different approach...

WE AIM TO PROVIDE REALISTIC
SOLUTIONS TO COMPLEX PROBLEMS
WITH A LONG TERM FORWARD LOOK

Video

Here are some videos featuring Virtual Actuary in the news.

The role of the actuary in Insurtech and what it’s like to be in the exclusive actuaries club.
Business fundamentals focusing on client centric principles.
.
Adi Kaimowitz on business and inspirational experiences – Interview Series NaviStar Legal
.
Adi Kaimowitz – In this interview with Jo Rogers he talks about his personal inspirations.
Entrepreneur lessons. How to successfully break into a large market.
.
What does it take to be a successful business person.
.
New World business trends for 2020.
Building a quality business during tricky times. Tips from Investor of the Year.
.
The corporate world post Covid-19 and the fundamentals of innovation.
.
New World – New Business Fundamentals.
The Organized Collaborative business model and You-as-a-Brand World.
.
Adi Kaimowitz Featured Speaker at Bitcoin Nights.
.
Building Virtual Actuary, How To Survive Digital Disruption Adi Kaimowitz Full interview.
StartUp Grind Johannesburg hosts Adi Kaimowitz.
.
The Virtual Actuary story.
.
Virtual Actuary in collaboration with INSETA – Insurance Sector Education and Training Authority.
Virtual Actuary presentation on Building an Empire at the South African STEM conference 2019.
.
Virtual Actuary webinar for the CFA Society South Africa.
.
Virtual Actuary FacebookLive interview on caiFM.
Virtual Actuary changes the corporate business model – The Organised Collaborative, part 1.
.
Virtual Actuary Cover Insurtech Conference.
.
Insurtech panel discussion Hartford Insurtech Hub USA January 2019.
Hartford Insurtech January 2019 Talk – Hartford Connecticut USA.
.
Sramana Mitra’s 1Mby1M Roundtable with Adi Kaimowitz from Virtual Actuary.
.
Herschel Mayers on Building an impact-full business with innovative products.
Matthew Commons, President of Commons Partners chats with Adi Kaimowitz.
.
David Shapiro from Sasfin Securities
discusses What makes a great business?
Roseanne Harris of the IAA, Some of my best friends are actuaries.
Andile Khumalo talks about differentiating yourself and being action orientated.
.
Wyndham Swartz, The Sales Coach examines the mindset of a sales person.

IF YOU CONSIDER YOURSELF A VIRTUAL ACTUARY
WE WOULD BE DELIGHTED TO HEAR FROM YOU

Contact Us

 

Phone
+27 (0) 83 570 2272

 

Email
Please use the form below.

Get In Touch