Globally, for several years, insurers and reinsurers have been outsourcing actuarial work to captive units or third-party service providers. Over the past couple of years, there has been renewed interest in actuarial outsourcing, with an increasing number of insurers and reinsurers either setting up new outsourcing units or expanding their existing ones.
This trend is especially true for life insurance companies, which are under increasing pressure to reduce costs, especially in the face of demanding regulatory changes. In order to uncover trends related to actuarial outsourcing services in the life insurance industry, Milliman consultants conducted a survey of outsourcing units of life insurers and reinsurers with global operations. While the outcomes of the survey reaffirm some prevailing notions, they also uncover some emerging trends.
To learn more, download Milliman’s “Global life insurance / reinsurance actuarial outsourcing survey.”