Financial Risk Management
The insurance regulatory regime is continually developing as a consequence of the changes occurring in New Zealand and overseas. Financial risk management is a specialist practice in the are of market, credit, operational, product design and insurance risk
I provide insight into financial risks and rewards and give clear guidance on the impact of key decision on the business. Premium rate structures in New Zealand are now more closely aligned with underlying costs. The ongoing changes in medical practice; new services, improved methods, greater access and choice have increased the need to analyse health insurance costs. There is a need for actuarial involvement in many areas of health insurance including product design and pricing, claim and expense analysis, technical reserve requirement, solvency and capital requirements and actuarial valuations.
Many employees have the opportunity to save for retirement through superannuation schemes. With the advent of KiwiSaver the number of employees saving for retirement through KiwiSaver schemes and company schemes is increasing. Services include Master trust and KiwiSaver selection and implementation, Statutory valuations, Issues arising on corporate acquisitions, mergers and divestments, Benefit design and costing, Member communication, Scheme conversions and integration with KiwiSaver, Supplier selection including insurers, administrators and trustees and Surplus reversion
Organisations may require knowledge of the effect of the changes in mortality in recent decades and the impact on their organisations. In addition organisations may have products and services which are affected by changes in membership and mortality which have consequential financial impacts. There is a need to understand the way these changes can affect the business in the future.