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Speaker(s): Dieter Köhnlein (Mazars), Michael Tripp (Mazars LLP)
In European Insurance there is an ongoing trend to source out internal functions. In general there is sufficient literature available related to the topic, less is available in the special case where Actuarial Functions are concerned.
We will give an brief overview of related literature, but will mainly present insight based on our individual practical experience as Outsourcing Provider of Actuarial Functions (Appointed Actuary, Head of Actuarial Function under Solvency II regulation).
An introduction to outsourcing in general will be given (Usefulness of outsourcing, differences and similarities Outsourcing vs. project work).We will address the specialties arising when actuarial functions are concerned (Role of regulation / Fit and proper criteria, Role of actuarial Profession).
Case studies from various countries in Europe will be discussed, in particular from UK, Germany and Malta. In case of Cross Border Outsourcing additional topics need to be considered.
Based on these case studies we will give observations and conclusions. In particular we will discuss favorable and preventive starting conditions for Outsourcing and under which circumstances one would consider temporary or continuing Outsourcing.
Finally we will give success factors and we will try to give an outlook to future developments.