Actuarial Rate and Reserve Management
IAO Actuarial Consulting Services (IAO) provides a wide range of actuarial and strategic consulting services, including in-depth reviews of historical experience and future insurance rate level requirements; valuation of insurance policy liabilities; financial modeling including capital adequacy testing and reviews of insurance company business plans; risk retention analyses; actuarial appraisals of insurance operations, and peer review. In addition, IAO provides actuarial support for the products and services of IAO. Our team of 12 dedicated actuarial professionals, including three Fellows of the Canadian Institute of Actuaries, is experienced in meeting all of the actuarial needs of a property and casualty insurance company.
To ensure we provide excellent service to our customers, our staff is committed to three guiding principles:
Confidentiality
We operate in an autonomous manner with the needs of our clients – our paramount concern. All client information and data is treated with the utmost confidentiality. Our knowledge about a client, and any conclusions or opinions based on it, will only be revealed with the express permission of our client.
Quality
Our staff is of the highest calibre with experience that spans the breadth of actuarial services. Among our 12 actuarial professionals, including three Fellows of the Canadian Institute of Actuaries, we have specialists in policy liability valuation, financial modeling, and ratemaking. In addition, our actuaries can lead projects and communicate the results to company management or Board members. We will not undertake projects and assignments unless we feel we can do them extremely well. Our clients place their trust in our abilities and we are committed to honour this trust.
Independence
We will accept assignments only on a fee-for-service basis, and will not accept commissions or contingent fees. We believe that this will ensure that consulting services are provided in an objective and independent manner. In addition, neither IAO nor AON performs audit services. Therefore, we are not subject to the independence restrictions and onerous reporting requirements of the large accounting/audit firms.