Actuarial Processes - Sutherland Global Services

the key advantages of business process outsourcing: Shifting a high-­‐volume
workload to an economical offshore solution enables company employees to
focus on what they do best – building the business and providing excellent
service to customers.
Process Analysis Findings
Our discovery exercise and process analysis phase revealed several challenges
and opportunities for improvement in the company’s Actuarial operations:
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Attracting a sufficient volume of actuarial talent in the UK
Improving efficiency and productivity while reducing labor costs
Producing actuarial analyses and reports, quickly and accurately
Reducing backlog of actuarial analyses
Utilizing Actuarial software correctly to maximize effectiveness
Recommendations and Solutions
Following our exploratory phase and detailed data analysis, Sutherland’s
Solution/Service Delivery team recommended several enhancements to help
the UK Actuarial office operate more cost-­‐effectively and efficiently. Our
solution was designed to eliminate the current backlog of analyses, to provide a
cost-­‐efficient resource for Actuarial staff, and to generate overall efficiency
gains.
Implementation of the solution was phased in over a 6-­‐month period, following
our foundational philosophy of building a global process foundation and then
transitioning additional businesses into the shared support world.
Our first step was to start a three-­‐month training session with the client to
completely evaluate and train on the current operation, and then shift the
operation’s workload to an offshore geographic region where there is a high
concentration of Actuaries. This offshore team supplements the current
Actuarial staff without displacing employees and expanding the current
operations. Providing a resource for highly qualified Actuaries was valuable to
our client, because the accuracy and timeliness of actuarial data provides a key
competitive advantage for insurance companies when pricing their plans.
As part of our solution, Sutherland supports the UK operations by handling all
of the following tasks:
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Data uploading -­‐ We perform regular claims data manipulation and
uploads in ResQ, actuarial software utilized to streamline the data/risk
calculation process.
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