Case Study: International Insurance and Reinsurance Company improves pricing accuracy and profitability with Sutherland Global Services actuarial support

International Insurance and Reinsurance Company - Customer Case Study

An international insurance and reinsurance company faced the challenge of pricing its products inaccurately due to market changes, which led to undercharging on premiums and accepting risks outside its parameters, threatening overall profitability. Sutherland Global Services provided a solution through its actuarial support services to address this issue.

Sutherland Global Services augmented the client's team with its in-house actuaries, who were trained in industry-specific technologies and overlapped with the client's operating hours for seamless collaboration. This partnership resulted in a more dynamic business with improved pricing accuracy, yielding a 2% reduction in the loss ratio, 7% growth in overall business, and a 36% improvement in productivity for pricing and reserving analysis.