Insurance supervision

Insurance activities are subject to regulation, and practitioners must remain mindful of supervisory requirements.

TASC provides consulting services to (re-)insurers on regulatory aspects, particularly under Solvency II, the Delegated Acts, and relevant EIOPA documentation. 

Examples include:

• calculating technical reserves or solvency capital

• conducting qualitative and quantitative risk assessments, evaluating the adequacy of assumptions, statistical/actuarial models and methods used

• verifying internally produced figures

Climate change

A growing challenge for the insurance industry is sustainability, particularly the broad spectrum of risks arising from climate change. 

To ensure that insurers are aware of the long-term impacts, the European regulator now mandates that climate change risks be integrated into overall risk assessment. Insurers may begin with qualitative arguments, but over the years they must demonstrate increasing efforts to quantify risks within a scenario-based framework. 

TASC can assist (re-)insurers in not only meeting these regulatory requirements but also understanding the potential business impacts of climate change.

Insurance pricing

Insurance pricing is not subject to regulatory oversight. Insurers have the freedom to apply any methodology they choose, from traditional statistical/actuarial methods to more modern data science techniques like random forests and neural networks. 

TASC can offer support in pricing of (re-)insurance contracts across life, non-life, and health sectors. This includes developing pricing models or revising and calibrating existing ones. 

Statistical studies are essential for a wide range of activities where data is collected. While there can be no statistics without data, data without statistical analysis lacks meaning. 

From agriculture and economics to medicine, tourism, and transportation, statistical analysis is crucial for understanding real-world phenomena, assessing the effects of interventions, making predictions, and shaping policies.

TASC helps enterprises, government institutions, and non-profit organizations transform collected data into knowledge. Its mission is to provide state-of the-art statistical consulting, ensuring transparency in methods and procedures so that clients can assess and trust the quality of the work themselves.

Sustainability for enterprises

Sustainability has become a concern for all enterprises, not just insurers. 

• How will future carbon pricing impact a company’s operations? 

• How might rising temperatures affect the supply of certain goods and, consequently, production? 

These are just some of the questions addressed through scenario analysis, which is tailored to a company’s specific parameters, such as data and risk mitigation strategies. Scenario analysis can incorporate various statistical techniques, including modeling, estimation, simulation, and bootstrapping. 

TASC is dedicated to exploring both the qualitative and quantitative aspects of these challenges, providing deeper insights into the potential business impacts.

TASC’s values are grounded in the principles of professionalism and integrity in consulting. These include independence, impartiality, objectivity, and prudence, which are particularly crucial in the context of insurance consulting.

In addition, TASC prioritizes the application of expertise, creativity, curiosity, and proactivity throughout the consulting and research process to ensure the delivery of high-quality outcomes.

Moreover, the services provided—such as reports, software, training materials, and documentation—are designed to be self-sufficient and independent of their creators. This ensures that clients have all the necessary tools to utilize the services effectively and to further develop them if desired. Therefore transparency in consulting methods, comprehensive documentation, and effective knowledge transfer are central to TASC’s approach, fostering trust and collaboration with clients.