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Navigate today’s most pressing health industry challenges with a leading global expert by your side.
Meet growing needs for innovative insurance solutions while increasing operational health and improving compliance.
Manage complex risks using data-driven insights, advanced approaches, and deep industry experience.
This is a place where your ideas and insights make an impact. Where an independent, entrepreneurial spirit is an advantage. And where diversity of thought and experience makes us who we are.
Data-driven insight. Deep expertise. Transformative innovation. Since 1947, Milliman has delivered intelligent solutions to improve health and financial security.
Thoughts for South Africa, with insights from Asia and Europe
The new IFRS standard for insurance contracts promises to have a transformative effect on insurers’ financial reporting. Milliman has unparalleled experience with Solvency II and other regulatory regimes, coupled with groundbreaking systems implementation and industrialisation capabilities.
Analyse unpaid claims liabilities with industry-leading stochastic and deterministic reserving tools and methods.
Streamline Solvency II compliance with a multi-user, multi-site tool for Standard Formula SCR and quantitative reporting templates.
Automate and accelerate actuarial modelling and reporting with a powerful, cloud-based solution.
In South Africa, there hasn’t been much positive news recently for the insurance industry. New business margins and volumes remain under pressure, load shedding remains pervasive, and business confidence and activity are low. Yet some positive news hints at signs of the bottom.
Effective executives and boards are challenging their thinking and decisions as they manage the ongoing impact of the pandemic.
New regulations encourage innovation and transformation in South Africa’s insurance industry.
The Prudential Authority (PA) published in July the draft Prudential Standard on public disclosures for insurers (PDI) and related guidance notice (GN) for public comment.
Insurer beware: Before more guidance from South African regulators becomes available, we offer our approach to calculating the SAM non-life risk margin.
David Kirk is the managing director for Milliman in Africa. He specialises in risk and capital management, regulatory change and insurance strategy.
Susan Melmed is a consultant focusing on life insurance, asset-liability management, market and operational risk management, and financial reporting.
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