Lux Actuaries & Consultants is an independent actuarial consultancy with offices in Bahrain, Egypt, Greece, India, Kenya, Kuwait, Nigeria, Saudi Arabia, Sierra Leone, South Africa and the UAE (both Abu Dhabi and Dubai). Our local presence in multiple locations allows us to provide pragmatic solutions that always take account of the local market and the needs of our clients, unconstrained by any overriding corporate policy. We enjoy a close working relationship with our clients based on trust, integrity and professionalism, as we strive to provide the highest levels of service.
Lux is the appointed Actuary to a number of leading Insurance Companies, with services including the review of statutory figures prepared by the internal actuarial department and/or appointed actuaries.
Our aim is to excel in the three key areas listed below when considering insurance business, during our Process to Profitability (P2P) - Accurate Pricing, Informed Underwriting, Capable Claims Management.
From pricing reports and medical provider network banding to
healthcare data analytics, our
Actuaries offer a suite of services across the health insurance spectrum tailored to meet the individual client requirement.
With our banking services our clients enjoy the following outcomes; increased revenue, increased staff and/or systems efficiency and effectiveness, reduced cost(s) and/or improved predictability of budgeted outcomes.
Lux performs actuarial valuations of employee benefits, in accordance with International Financial Reporting Standards, including IAS 19 and US GAAP, for many clients. Our reports are easy for accountants and auditors to use and implement.
Data Science is an integral part of our business. We handle a very high amount of data daily and we have managed to automate our processes in order create accuracy and efficiency.
We work closely with the main stakeholders to develop and implement successful ERM frameworks, within a considered Corporate Governance and Internal Control environment.
We conduct extensive research into short-term and long-term demographic and economic trends, analysis of experience in mortality and morbidity rates, and prepare reports on the financial aspects of the Social Security System.
Optimize and manage financial resources and investments and cash flow to match liabilities.
Most GCC insurers have successfully adopted IFRS 17 with the transition having a negligible impact on the overall equity in the industry, although there are variations at an entity level. However, key challenges remain, with solvency deficits emerging as a prominent concern, leading to credit rating downgrades and the need for remedial plans.
For companies wishing to adopt IAS 19 for the first time or considering a transition to a new IAS 19 provider, there are certain measures that can be taken to ensure the valuation process runs efficiently and smoothly.
Lux Actuaries is excited to announce our participation in the 5th Insurance Data Science Conference, taking place on 15-16 June 2023 at Bayes Business School, City University of London. The conference brings together academics and practitioners in areas including data science, analytics, machine learning, artificial intelligence, computational statistics and software, as applied in the insurance industry.
East Africa and Kenyajoseph.email@example.com
North Africa - Egyptahmed.firstname.lastname@example.org
North Africa - Francophonemohammed.email@example.com
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