Who we help

For over 20 years, we’ve helped countless clients in the UK and internationally tackle all manner of complicated actuarial and regulatory issues. These include insurance companies, mutuals and friendly societies, banks, building societies, pension schemes and their advisers, independent financial advisers, individuals, auditors, solicitors, and trade bodies. 

Throughout the process, we offer practical solutions that bring clarity and add real value to your business.

Our team has developed a comprehensive range of services, solutions and advice to help you identify opportunities and manage challenges with confidence.

OAC is accredited for its professional services under the Quality Assurance Scheme (QAS) from the Institute and Faculty of Actuaries (IFoA).

Life Insurers

Life Insurers

Our team of experienced life insurance actuaries and other professionals can provide technical help, consultancy and support on all aspects of your life insurance business. Our breadth of expertise enables us to offer you a wide range of practical solutions to the many varied problems you’re faced with.

Our flexibility allows us to fit with the way you like to work, as well as from any location. This could mean providing individual expertise, working with you as an extension of your team or managing the entire process by delivering a completely outsourced solution. Whichever approach suits your requirements, you can be confident you’ll be in safe hands from start to finish.

Our life insurance actuary and consultancy services include:

  • Solvency II financial modelling and all aspects of reporting.
  • Development of your Own Risk and Solvency Assessments.
  • Support to insurers’ management teams on appropriate responses to enquiries from financial regulators.
  • Review of proposed reinsurance arrangement on your firm’s solvency position and its impact on liquidity risk and overall management of the business.
  • Strategic and financial assessment of business development initiatives undertaken by you and your distributors.
  • Review of actuarial methodologies and assumptions underpinning your organisation’s insurance results.
  • Review of product design, pricing and profitability of new business.
  • Carrying out a wide range of complex actuarial and redress calculations. 
  • Financial modelling development using our Mo.net proprietary software.
  • Integration of pricing systems with online quotation engines.
  • Merger and acquisition activity.

We can also supply expert senior actuaries to fulfill key regulatory appointments within the business on an interim or permanent basis.

Appointed and expert roles

We work with a number of clients fulfilling the role of:

We are also able to fulfill the role of:

  • Independent Person for firms transacting with-profits business.
  • Independent Expert in Part VII transfers.
  • Independent peer review.

Risk management solutions

We provide a suite of risk management software tools to help your organisation embed effective risk management throughout your business.  These include:  

  • The Risk Database - allowing you to record, manage and embed an effective risk management culture within their business.
  • TRAC10 - which facilitates the recruitment and ongoing “fit and proper” management of all “Approved Persons” in your organisation. It creates a Governance Map and archives all information for future reference.

OAC is an Associate Member of The Investment and Life Assurance Group.

David Lechmere

For more information
David Lechmere
Head of Actuarial

General Insurers

General Insurers

We provide support to a variety of General Insurance companies on a day-to-day and project basis. From delivering professional and technical support for reserving and rating, capital modelling and risk management to providing an experienced Chief Actuary – we can provide reliable expertise when you need it most.

The services we can offer general insurers include:

Reserving and rating

  • Actuarial opinion on the appropriate methodologies and assumptions to use in the calculation of claim provisions for particular reporting requirements.
  • Calculation of claim provisions in accordance with stated methodologies and assumptions, including any discounting of liabilities that may be needed.
  • Assessment of frequency and average amount of claims and expenses to estimate premiums.
  • Provision of Actuarial Function.
  • Solvency II financial modelling and all aspects of reporting.

Capital modelling

  • Calculation of capital requirements for the business for Solvency II purposes.
  • Asset liability modelling to help you assess the risks of particular asset strategies on your business.
  • Assessment of the impact your organisation’s pension scheme has on its capital requirements.

Appointed and expert roles

Risk management framework

  • Advice to Boards and executives on what they need to do to implement an effective risk management framework within the business e.g. ORSA, appropriate deployment of capital resources.

Risk management solutions

We provide a suite of risk management software tools to help your organisation embed effective risk management throughout your business. These include:

  • The Risk Database - allowing you to record, manage and embed an effective risk management culture within their business.
  • TRAC10 - which facilitates the recruitment and ongoing “fit and proper” management of all “Approved Persons” in your organisation. It creates a Governance Map and archives all information for future reference.
Christopher Critchlow

For more information
Christopher Critchlow
Director | Head of Professional Services

Mutuals & Friendly Societies

Mutuals & Friendly Societies

We have vast experience in the mutual sector. Through highly flexible, collaborative and innovative working methods and practices, we’re able to offer support to existing in-house teams in a number of technical areas, including the provision of a full Actuarial Function.

We also have expertise in product pricing and development and regularly provide technical and professional services support to organisation’s involved in mergers and acquisitions.

OAC offers the following services to Mutuals and Friendly Societies:

Appointed and expert roles

We work with a number of clients fulfilling the role of:

We are also able to fulfill the role of:

  • Independent Person for firms transacting with-profits business.
  • Independent Expert in Part VII transfers.
  • Independent peer review.

Support for in-house teams

  • Provision of the Actuarial Function.
  • Solvency II financial modelling and all aspects of reporting.
  • Carrying out a wide range of complex actuarial and redress calculations. 
  • Development of your firm’s Own Risk and Solvency Assessments (ORSA).
  • Regulatory issues.
  • Estate, estate attribution and bonus philosophy issues.
  • PPFM, TCF and policyholder communications.
  • Reinsurance considerations.
  • Business development initiatives.
  • Review of actuarial methodologies and assumptions underpinning the insurance results of your company.

Product development

  • We advise on the pricing, design and marketing literature for new products and updates of existing products.
  • We can also assist with the integration of pricing systems with online quotation engines.

Business transfers

  • We offer a range of merger and acquisition activity e.g. due diligence.

Risk management solutions

We provide a suite of risk management software tools to help your organisation embed effective risk management throughout your business. These include:  

  • The Risk Database - allowing you to record, manage and embed an effective risk management culture within their business.
  • TRAC10 - which facilitates the recruitment and ongoing “fit and proper” management of all “Approved Persons” in your organisation. It creates a Governance Map and archives all information for future reference.

OAC is an Associate Member of the Association of Financial Mutuals.

OAC is an Associate Member of the Association of Financial Mutuals

Cara Spinks

For more information
Cara Spinks
Consultant Actuary

Banks & Building Societies

Banks & Building Societies

Banks and building societies often provide advice to retail customers on financial products. Occasionally customers are not satisfied with the advice they have received and make financial complaints.  

We can provide a completely outsourced complaint handling, loss and redress calculation service in line with regulatory requirements and standards. This can be particularly useful in the area of legacy products or business type where the firm may now have limited in-house expertise.

Additionally, we also provide a suite of risk management software tools to help your organisation embed effective risk management throughout your business.

OAC’s complaints management services include:

Our risk management software tools include:

  • The Risk Database - allowing you to record, manage and embed an effective risk management culture within their business.
  • TRAC10 - facilitates the recruitment and ongoing “fit and proper” management of all “Approved Persons” in your organisation. It creates a Governance Map and archives all information for future reference.

 

Christine Rose-Williams

For more information
Christine Rose-Williams
Head of Redress Calculations

Pre-Paid Funeral Plan Providers

Pre-Paid Funeral Plan Providers

We provide a wide range of actuarial and compliance services to the pre-paid funeral trust sector. This includes general consulting services and support on pricing of pre-paid funeral plan products.

  • We provide a variety of services to the pre-paid funeral Trust sector as well as to insured funeral plan arrangements. Our consultants have considerable experience of the sector and of the necessary professional requirements.
  • In addition to actuarial review services, which are required under the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, our consultants have also provided advice to all sizes of businesses from some of the smallest pre paid funeral trusts through to one of the largest providers of funerals in the UK.
  • We also have experience helping trusts with different types of contractual arrangements between provider, trustees and funeral director.
  • Whatever your business challenge our advice is characterised by a clear and accessible style of communication that will help you make informed decisions.
Philip Staunton

For more information
Philip Staunton
Consultant Actuary

Legal & Accountants

Legal & Accountants

Our independent specialists are acknowledged experts in the calculation of financial loss, redress or compensation. They are regularly called upon to act as an Expert Witness, providing professional opinions to support solicitors with various types of case.

Areas of expertise include investment advice complaints, business reviews and remediation.  We can also offer professional expertise in support of a wide range of areas including Employment Law, Family Law, Personal and Commercial Litigation, as well as disciplinary proceedings and matters relating to Financial Services Regulation.

Over the last 20 years we’ve supported large institutions, smaller companies and individual private clients with disputes, tribunals and litigation.

Read more about our Expert Witness services.

 

Roger Score

For more information
Roger Score
Consultant Actuary | Head of Expert Witness

IFAs

IFAs

When you come up against a situation which is rare to your business you need expert support and assistance. We can help with a wide range of services to support you and your clients. Click on the links below to find out more about any of the services we can offer.

Our services include:

Christine Rose-Williams

For more information
Christine Rose-Williams
Head of Redress Calculations

What our clients say