Our Services

We will help you to identify, measure, source, prioritize and manage business, technology, political environment and all other types of related risks. You will be helped in all stages of putting ERM framework in practice, incorporate it in governance structure and develop workforce in this area. Our consultants with their expertise in the field will help you, primarily into following areas.

Enterprise Risk Management
✔   Identify different types of risks
✔   Classify risks based on area of impact
✔   Analyze risks identified
✔   Assess likelihood and impact
✔   Analyze existing risk control measures
✔   Identify requirement of additional controls
✔   Find Risk mitigation options
✔   Cost benefit analysis of various options
✔   Document the findings
 
In a nutshell, you will be helped in all stages of putting ERM framework in practice.

Will Advise on
✔   Design of compliant ERM framework
✔   Implementation of ERM framework
✔   Development of Internal models
✔   Model Validation
✔   Capital Management and business strategy
✔   Financial Condition Reporting
✔   Supervisory Report
✔   Gap Analysis
 
Benefits to you
✔   Business solutions are provided by Industry pioneers and reliable actuarial team
✔   Better risk reporting
✔   Align strategy with risk appetite
✔   Manage and/or transfer risk effectively
✔   Comprehend links between growth, risk and return• Assess economic capital
✔   Better allocation of capital and resources
✔  End to End Risk Management Services• Save time and money•Manage financial and regulatory risks

We are specialized in providing professional valuation services to companies regarding their ESOP structuring, and provide well-reasoned, detailed valuation reports certificates to serve their commercial & statutory requirements.

Our Employee Stock Ownership Plan (ESOP) services include:

☷   ESOP valuation as per Guidance Note 18 issued by The Institute of Chartered Accountants of India

☷   ESOP Feasibility Analysis

☷   SEBI Guidelines 1999

☷   Income tax Act

☷   FEMA

☷   Evaluation and support of existing ESOP plans

For any further information or details please connect with:
Sumeet Shah: +91 80808 44420
 grc@globalriskconsultants.in

Growing conscious and awareness among the corporates has increased the demand for compliance services. Corporate legal compliance is one of most important aspect of any business in the current environment of fast information availability and regulatory activism.

As per Accounting Standard 15 (revised 2005) and Ind AS-19: Employee Benefits issued by the Council of the Institute of Chartered Accountants of India following enterprises fall under its ambit:

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• Listed companies on any stock exchange in India

• Banks/FIs/Insurance companies

• Companies having turnover of more than 50 Crores

• Companies having borrowings or deposits of more than 10 Crores

• Companies employing more than 50 employees

• Holding or subsidiary company of any of the above

If your company meets any one of the above then you need long term employee benefit valued by external qualified actuary for correct reporting in financial statements.

GRC’s team of qualified actuaries and trained staff have extensive and long experience in the field and constantly evolve themselves with the changing times. We understand the importance of fast turnaround time, especially in the times of pressure and thus ensure fast and efficient service with active support in discussion with external auditors.

We offer various actuarial reports as per statutory requirements of:
 

• Accounting Standard 15 (revised)

• Ind AS 19

• IAS 19 R

• US GAAP

Applicable to most of the companies, a few reports that we prepare are:
 

• Actuarial valuation of Gratuity Liabilities

• Actuarial valuation of Leave encashment Liabilities

• Actuarial valuation of earned leave/ leave benefits

• Actuarial valuation of sick leave benefits

• Actuarial valuation of Pension benefits

• Actuarial valuation of Interest rate guarantee for provident fund

• Actuarial valuation of Long Term Care

• Actuarial valuation of Long term service awards

• And other defined benefits plan

Asset Liability Management

We use ALM as a tool to conduct ALM study of company’s Gratuity, PF and Pension Fund which provides detailed forecast on the funds and also highlights the asset liability risks that needs be considered.

Our ALM services include:

• Study of Provident Funds, Superannuation Funds, Gratuity and Pension Funds Ensure liquidity, sufficiency of funds and generate optimum returns.

For any further information or details please connect with:

Sumeet Shah: +91 80808 44420
 grc@globalriskconsultants.in

Life Insurance Consultancy
Team of dedicated consultants offers Actuarial services par excellence on aspects pertaining to Life Insurance. Our expertise lies in providing tailor made services suiting client need. Our consultants carry diversified experience across various domains of Life Insurance Industry and use their expertise in Financial / Actuarial / Business Modeling to provide solutions in the following areas:
 
Product Design

• Designing the products in compliance with the regulatory requirements, market Benchmarked and suitable for target pricing

• Prophet

• Building stochastic models for valuing options and guarantees

• Business Planning

• Asset Liability Management

• Analysis of Surplus

• Other relevant activities pertaining to Actuarial modelling

 
Statutory Requirements

• Building the model for calculation of liabilities

• Advising on the types of global reserves and the methodology for its calculation

• Assisting with preparation of the Annual and Quarterly reports as stated by the Regulator

• Peer Review-An independent review of the relevant reports, documents and models

• Building the model for calculation of liabilities

 
Asset Liability Management

• Designing an Investment strategy to manage the liability profile of the client basis nature, term and currency of the liabilities

• Ensuring compliance with the solvency requirements from the regulator.

• Advising on company’s internal strategy on managing the solvency position.

• Advising on investment strategy to meet the liquidity requirements.

• Constructing models for stress testing and scenario testing.

• Preparing reports specific to Asset Liability Management

• Business Management and Planning

 
With – Profits business Management

• Setting up of With – Profits line of business

• Developing strategy for distribution of surplus.

• An Independent With Profits Actuary to be a part of the With Profits Committee

 
Risk Management

• Operational risk, Underwriting risk , Reinsurance risk

• Assessment of Risk Based Capital Reviewing the reinsurance agreements

• Devising the investment strategy to hedge the investment risk Mergers and Acquisitions

 
Mergers and Acquisitions

• Assessment of the fair value of the business

• Actuarial Due Diligences

• Financial Due Diligence

• Commercial Due Diligence

• Negotiations involving buyers and sellers

Solvency II Consulting

• Designing of ERM framework compliant with regulations

• Implementation of the ERM framework

• Developing the internal models

• Validating the existing models

• Preparation of Regulatory Reports

• Capital Management and Business Strategy

Non-Life Insurance (Property and Casualty Insurance) Consultancy

We offers you tailor-made services on a variety of strategic and operational issues related to Non-Life Insurance Business to meet your business requirements. Client orientation, flexible customized service offering at competitive prices is what sets us apart from others. Whatever is your situation or size, our practical expertise is available to meet your every need. Our consultants with their expertise in the field and using Financial/ Actuarial /Business Modeling skills will help you, primarily into following areas.

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Product Design

• Designing the products in compliance with the regulatory requirements, Market Benchmarked and suitable for target market

Pricing and Underwriting parameters’ setting

• Determine pricing for a wide variety of insurance products

• Statistical analysis and distribution fitting

• Pricing and profit testing

• Sensitivity scenario analysis to project losses for insurance exposures

• Help in setting up underwriting parameters and underwriting strategy

• Review of Regulatory filling documents

Reserving

• Statistical analysis of Claims experience

• Projected losses Modeling

• Determine Reserving methodology for each line of business for IBNR, IBNER, UPR, AUPR, PDR

• Determine assumptions and approach for each methodology

• Determine adequacy of past Reserve

• Projection of Reserves in future

• Assess Impact of reinsurance program on Reserves

• Generation of Reserving Report

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Capital Management

• Project Capital Requirements

• Assessment of Economic Capital

• Assess Impact of new products on Capital Requirement

• Assess & Optimize Return on Capital

• Develop Capital efficient products

• Design Reinsurance programs

Business Valuation in IPO / M&A

• Assessment of fair value of business

• Actuarial Due diligence

• Financial Due diligence

• Commercial Due diligence

• Assisting in discussion with the buyer/seller

Business Planning & Actuarial Reporting

• Business Plan Projections- Actuarial Input

• Actuarial Management Reporting-EV, NBAP, Change in reserves, Investment Performance, Expense Analysis, Persistency

• Annual Experience Investigation- Investment Performance, Expense Analysis, Persistency, Mortality, Morbidity

• Annual Products Planner

• Reinsurance Program

• Economic Capital Report

• Solvency Report

• Public Disclosures

• Financial Condition Report (FCR) including IBNR

New Ventures advice

• Market Feasibility

• Business Planning

• Partner Search

• Distribution Channel Feasibility

• Product Strategy

• Competitive Scenario

• R1/R2 Filing and Approvals

Health Insurance Consultancy
Across the globe there have never been more health care challenges than there are today, be it in terms of providing quality health care by the Government to its public or an Insurer to grow profitably its health business.

We understands the complexity involved in the Health Business thoroughly, headed and executed by domain experts who have had varied experience in setting up Health verticals end to end, with considerable research done and current ongoing research we are confident to deliver the best practices in the Industry by our consultants who have been diligently recruited to suit the comprehensive service requirements of the clients in perspective.

Are you confident your pricing has adequately embedded all the policy condition of the product in offer and reviewed? (Companies are always in the lookout for furthering their approach towards ensuring the product in offer is at the right price).

We provides an extensive gamut of Actuarial service to meet the requirement of the clients in the dynamic environment, below are services we offer, but not limited to Actuarial Services:
 
Actuarial Modelling

• Assist in looking at data in a multi way analysis

• Modelling is done through the use of various software’s designed for large data analysis

Product Design & Pricing

• Determine pricing for a wide variety of insurance products

• Statistical analysis and distribution fitting

• Pricing and profit testing

• Sensitivity scenario analysis to project losses for insurance exposures

• Review of Regulatory filling documents

Reserving Review

• Peer review of Appointed Actuary’s work

• Statistical analysis of claims experience

• Assess impact of Reinsurance program on Reserves

• Generation of Reserving reports

• Determine adequacy of past reserves

• Determine Reserving methodology for each line of business and assess the needs for IBNR, IBNER, UPR, AUPR and PDR

• Financial Condition Report

• IBNR Reporting

• Asset Liability Management reporting

• Calculation of Statutory reserves

• Testing of Reserve adequacy and stress testing Regulatory filing support

Capital Management

• Projection of capital requirements

• Assessment of Economic Capital

• Assessment of impact of new products on capital requirement

• Assess and optimize Return on Capital

• Develop capital efficient products

• Design Reinsurance programs in line with risk appetite of the firm

Business Valuation & Due Diligence

• New Insurance company setup services

• Market Feasibility

• Partner search

• Business Planning

• Product Strategy

• Distribution channel feasibility

• Competitive scenario analysis

• Regulatory Approval

• Product Design

• Network and Stakeholder tie-ups (Both internal and External)

• Evaluating Underwriting, Claims and Insurance operation to boost bottomline

• Valuation and M&A services

• Independent assessment of Insurance companies

• Actuarial due diligence

• Commercial due diligence

• Financial due diligence

• Impact analysis of changes in operations