Improves Vetting and
Auditing of Loss
This financial services leader with deep roots in the past and an eye trained on the future needed to vastly improve its loss reserving process. With well-developed ideas of its own, it turned to InEdge to deliver the solution.
A 125 year veteran of the financial services industry is a global leader, with a market capitalization of US$19.5 billion (2012). With operations in Asia, Canada and the United States it offers a wide variety of financial protection and wealth management products. Its core retail offerings in the United States include individual and group life insurance, long-term care insurance, annuities, mutual funds and banking products.
Dealing with disparate, non-integrated and un-harmonized data was significantly hindering the ability of its actuarial staff to properly support the loss reserving process. Team members spent too much time manually assembling data for the purposes of explaining reserve movements and unusual reserve allocations, for example. Something had to be done.
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