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Developing Your Reserving Team

With increased reporting volumes, greater technical detail, faster turn-around and more explicit professional requirements being placed on GI reserving functions, the time that heads of reserving teams can dedicate to free-thinking, research and development work is often scarce and commonly perceived as non-existent. Add to this: pressures on expenses, recruitment challenges, and demands from business to demonstrate commercial relevance and add value. So, would heads of reserving gain from group discussions to share experiences, and develop strategies and solutions that can help them develop their teams’ capacity, capabilities and contribution?

Key Objectives

  • Identify the extent of the common challenges within reserving teams across the industry and summarise key issues and concerns
  • Outline a framework for greater strategic thinking and how to provide commercial relevance and added value of the reserving teams 
  • Define the strategic and tactical roles of the reserving teams/function within an organisation
  • Analyse barriers and explore different operating models, including extending a reserving actuary’s role into other areas of an organisation
  • Discuss structures that allow greater flexibility and respond to new challenges 
  • Communicate the output to the wider GI profession to develop and advance current and future reserving teams.

The working party is also planning to:

  • Outline strategies for developing teams and advance knowledge
  • Identify training and knowledge sharing processes to advance change management, project delivery and project assurance
  • Share ideas of improving management efficiency models and team retention
  • Outline a way forward for the working party to enable future consultation for members and sustain an open dialogue with the wider profession

Other outputs

Chair Paul Goodenough
Membership 8
Established 2019

 

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Contact Details

If you want more information about this research working party please contact the Communities Team.

professional.communities@actuaries.org.uk

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