What it’s really like to work with us.
CASE STUDY 1
Improving Reserving Efficiency
Our client, a Lloyd’s MGA, wanted to make their reserving process quicker and more accurate in order to facilitate better results and decision-making in the business. In conversation with the client to understand the heart of the problem, it became clear that multiple stakeholders with vastly differing requirements were battling to access the data they needed.
Digging deeper, it became clear that the solution would need to address data pulling from multiple systems across many classes; and that many stakeholders – from internal management to underwriting and capacity providers, needed to be considered in developing the right approach.
Talsen put a team together consisting of Actuarial and IT experts to quickly understand the data and identify some quick tangible wins within the first two months.
“We then identified the necessary components for a model build and began to standardise and automate the process and generate a set of templates for effective reporting purposes. We also considered where things could go in the future in making use of machine learning,” said Jenny Retief, who heads up Talsen Tech. The client benefitted from significantly improved reserving efficiencies, and now operates more nimbly and is able to respond in a more agile fashion to trends in pricing and portfolio management.