Practice Areas

A trusted partner for actuarial consulting

Lux’s services extend to the full spectrum of actuarial, technical, risk management and employee benefits consultancy.  We are committed to delivering solutions of the highest quality and innovative nature. Depending on our clients’ needs and circumstances we can offer support and integrated advice across actuarial, underwriting, risk management, claims management, distribution, operations and clinical disciplines. Our in-depth knowledge and technical experience in both traditional and more radical fields, guarantee customised and collective support to meet our clients’ needs. Our clients include:

  • Life Insurance Companies
  • Non-Life Insurance Companies
  • Health Insurance Providers
  • Banks and Financial Institutions
  • Pension Schemes & Provident Funds
  • Reinsurers & Captive Groups
  • Insurance & Reinsurance Brokers
  • Regulatory Bodies
  • Auditors

Our relationship types

Our clients’ diverse types, sizes, needs, styles and markets mean that we are used to working with our clients in various capacities to best support them with their challenges and to make the most of the many opportunities. These relationship types and capacities include:

  • Traditional consulting
  • Special strategic or technical projects
  • Peer review & second opinion
  • Ad-hoc training
  • Long term internal technical and actuarial up-skilling partnerships
  • Appointed/Statutory Actuary
  • M&A and IPO/Rights Issue project
  • Market entry strategy and implementation

Specific Services

Our team has a broad range of international experience and skills, with access to local multi-disciplinary experts, which enables us to offer smart solutions and fully integrated support.

Actuarial, health analytics, data analytics, distribution – general data and portfolio analytics, data collection and handling, customer segmentation, technical sales training and materials, sales remuneration structures, purpose driven research and development

Product development, rating & pricing, reviews – product design, pricing, profit testing, group pricing/processes, GLMs, product profitability management, risk selection, product and benefit reviews, review/input of models and assumptions, review and development of terms & conditions, review of effectiveness/appropriateness of associated documents

Financial, reserves & capital raising – outstanding claims assessments, loss making portfolio turn around, business planning and technical budgeting, Solvency II, market valuations, technical input and stochastic modelling of economic capital, ALM, M&A, IPO’s & Rights Issue projects

New entrant and new product support – New entrant strategy & research, market reports and trends, feasibility studies, business plans, product filing, entry strategies, product design, administrative requirements,  product, sales and administration materials support

Risk Management, governance, control & internal technical development – Risk management, peer review, financial condition reports, development of governance & risk control procedures, implementation of a risk management control cycle, mentoring, internal up-skilling, long term guidance on the development of internal actuarial/technical capability, project management

Claims, provider management & networks, clinical – fraud control, differentiating development of unique strategies, review, tailoring and cost benefit analysis of administration procedures, development and modification of use of provider and facility networks, design & negotiation of provider arrangements, clinical reviews, guideline/protocol development, claim and medical coding systems, assistance in set up and running of trials and pilots of new initiatives

Sales & marketing – Customer segmentation, design & valuation of sales remuneration structures, termination and new business analysis, design & preparation of technical sales/marketing material, development of technical sales training and materials

Health portfolio management – product and pricing strategies, management reporting, portfolio monitoring, portfolio reviews,  experience analysis, implementation of internal technical control and development processes, practical feed back on operational and risk selection issues

Employee benefit consultancy – actuarial valuations of employee benefits, design & implementation of pensions and savings plans, audit of internal administration functions, training of HR and Finance personnel, benefit checks & statements, internal controls reviews