As the regulatory requirements for actuarial assumptions increase in number and complexity, many insurers are finding it difficult to comply. The current manual processes – often ad hoc and cumbersome – can no longer keep up with today’s demands. The KPMG Actuarial Assumption Management approach, built on the Appian Platform, enhances the assumption management procedures. It has workflow management capabilities to help insurance actuaries develop their assumptions and improve decision-making.
Unlike lengthy and disruptive transformation efforts, the KPMG low-code approach can be implemented in weeks, and works with existing programs from the start. Our approach automates repetitive manual tasks so actuaries can focus their analytical skills in ways that can increase value added to their organizations. In enhancing the actuarial process and consolidating multiple subprocesses, organizations can increase oversight, improve governance, and allow for application-supported validation.
With the Appian Platform, teams and organizations can easily streamline and automate business processes, combining people and data seamlessly. The power of the Appian Platform and KPMG’s deep functional actuarial knowledge and experience delivers lasting value to clients.