Service Provider to the Insurance Industry - 2009
August 5, 2009 - 3:05pm
Service Provider to the Insurance Industry
Finity Consulting
Actuarial and insurance consulting company, Finity Consulting has been named Service Provider to the Insurance Industry again for 2009.
Finity has 82 staff including 44 consultants, all of whom are general or health insurance specialists.
Among its 19 person Principal group, the relevant industry experience averages 19 years and the length of service averages over 10 years with Finity and its predecessor companies.
Judges were impressed with the breadth of research that Finity undertakes. During 2008, Finity invested around 6,500 hours across a range of research projects, representing over 92 hours of research and development per staff member.
Finity currently serves in excess of 140 clients in the general and health insurance industries throughout Australia, New Zealand and Papua New Guinea. Finity actuaries hold Appointed Actuary roles for 35 APRA regulated insurers.
The innovation shown by Finity also stood out to judges. Finity's pricing practice introduced a service for clients that makes use of premium data collected electronically from insurance websites. Weekly reports to clients allow them to assess how their competitors' prices are changing in various segments of their portfolios allowing them to make well informed and rapid response to market price movements.
Finity's commitment to knowledge sharing is exemplary including the provision of ISA data to support community and industry needs. Finity regularly publish industry circulars on regulatory changes, present at industry events (27 presentations during 2008), contribute to academic journal and compile newsletters.
The industry understanding that Finity posses along with its complimentary skill set have enabled it to work very effectively with its clients, assisting them solve their complex problems to achieve and exceed their goals.