Product development and pricing: Insurance — Non-Life

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One of the most complex decisions for a financial institution is defining pricing assumptions, testing them in terms of related product options, and evaluating how the results can be integrated into general profitability planning—an area in which we are experienced. In addition to developing financial models and assisting in due diligence, we review the appropriateness of potential products in terms of business objectives and assist in discussing alternative product designs, compensation strategies, and reinsurance applications.

In approaching these assignments, Milliman draws upon the experience of its consulting actuaries and other specialists to analyse the impact of economic conditions on loss trends, taking into account marketing goals, and overall corporate objectives. Milliman's pricing assignments have addressed such diverse areas as medical malpractice, directors and officers liability, professional liability, catastrophe issues, motor, and other personal lines insurances, and warranty insurance.

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