为什么精算业务现代化是再保险交易的下一个前沿（英）2025

By Poojan Shah | October 2025 Legacy actuarial processes:Silent deal killers In the evolving landscape of the lifeinsurance and reinsurance market, thecompetitive edge is no longer determinedsolely by access to capital or the abilityto identify attractive transactions.Increasingly, it is defined by execution,which rests heavily on the strength of aninsurer’s actuarial and financial operations. Many insurers continue to rely on legacyactuarial processes that were not designedto support today’s fast-paced transactionenvironment. These outdated practices canquietly compromise deals by slowing valuations,introducing risk and reducing operational agility. Antiquated infrastructure, fragmented processes andsiloed data can slow pricing, complicate integration anddiminish deal value, while modernized actuarial platforms,integrated data architecture and automated processesenable deals to be executed faster, integrated moresmoothly and managed more profitably. Lengthy and rigid projection cycles Traditional actuarial models often run on legacy systemsthat rely on batch processing, limiting speed andflexibility, or extensive Excel workbooks, requiring manualintervention for each valuation run. Extended cycletimes limit an insurer’s ability to respond to dynamicdeal scenarios. For example, legacy year-end forecastingmay take multiple weeks to complete, creating delaysin “what-if” analyses needed during live transactions.2If management requests a rapid assessment of cededrisk or interest rate shifts, delays can result in missedopportunities or suboptimal pricing. As the volume of reinsurance transactions continuesto grow, deals are no longer isolated financial events.They must be priced, executed and managed through aninsurer’s operational infrastructure. If that infrastructureis outdated, it becomes a bottleneck that can delaydecisions, increase risk and even jeopardize dealexecution. Conversely, insurers leveraging modernactuarial platforms, integrated data architecture andautomated workflows can execute deals faster, integrateblocks more efficiently and maximize post-deal value. Data silos and quality issues Actuarial work depends on accurate, consolidated datafrom underwriting, policy administration, finance andinvestment teams. When these data reside in disparatesystems with inconsistent formats and definitions,significant manual reconciliation is required. Actuariesoften spend more time scrubbing and reconciling datathan performing analysis. Surveys indicate that a majorityof insurance firms lack a single source of truth for theiractuarial data, limiting the speed and accuracy of decisionmaking.3Having transparent, well-governed data andmodels improves credibility and reduces friction duringdeal pricing and negotiation. Industry data underscore this trend. In a survey of250 private equity and insurance executives, more thantwo-thirds of respondents identified enhanced technologyand insurtech capabilities as critical to creatingpost-deal value. Similarly, global analyses of insuranceorganizations show that only a minority of firms considertheir transformation and cost initiatives highly successful,highlighting ongoing operational execution challenges.1 These findings point to a growing consensus:Modernizing actuarial operations through integratedsystems, streamlined workflows and advancedanalytics is no longer a back-office initiative but astrategic differentiator. Dependence on manual processes Manual workflows create risk and inefficiency in twocritical ways. First, many actuarial functions dependheavily on a small number of experts to run complexmodels and produce results. This key-person dependencymeans that if these individuals are unavailable, criticalprocesses can stall, slowing decision making andincreasing operational risk. Second, the widespreaduse of end-user computing tools, such as spreadsheets,macros and ad hoc reports, introduces significant control weaknesses. These tools often lack version control, audittrails and automated checks, making them prone toerrors. A single mistake in a spreadsheet chain can leadto material mispricing or misstatement of capital impacts,with consequences that can affect deal economicsand financial reporting. Industry research underscoresthat automation, standardized workflows and stronggovernance are essential to mitigate these risks andscale operations effectively. integrates operations, customer, product, finance,actuarial and investment data. Automated feeds fromadministrative and financial systems ensure continuousupdates, enabling actuaries to focus on analysis ratherthan reconciliation. Data integration benefits both cedents and reinsurersby ensuring consistent assumptions for pricingand negotiation.4 Cloud computing and scalable modelingplatforms Fragmented models across reporting bases Insurers must produce projections and valuationsacross multiple reporting frameworks, each with distinctassumptions and measurement rules. The introductionof new