Second largest provider of statutory services
We specialise in technical, actuarial work in the areas set out below. In terms of assisting insurers, True South is the second largest provider of statutory services in South Africa, with appointments in both long-term insurance and short-term insurance. To this effect, members of our team hold practising certificates from the Actuarial Society of South Africa in long-term insurance, short-term insurance and health.
Long- and short-term insurance
Statutory appointments, SAM pillar I calculations and optimisation, SAM pillar II risk management and ORSA support, SAM peer reviews, product and valuation support to in-house actuarial teams, commissioned research and business plan support on new license applications.
Warranty / guarantee schemes
Appointed actuaries to four major German car brands operating in Southern Africa. Liability valuations, pricing, assessment of capital adequacy, IFRS 4 Phase 2 migration assessments.
Valuation and pricing services required by statute to national schemes for workers’ compensation, road accident compensation and unemployment, strategic pricing and modelling support to Government on the design and implementation of new compensation schemes (or amendments to existing schemes).
Medical schemes / administrators / providers
Strategic support to principal officers, outcomes and performance measurement for both schemes and providers, provider price negotiations, contracting optimisation, HIV incidence estimation, medical scheme pricing and IBNR calculations.
Experienced in quantification of loss of income, loss of support, deceased estate and other third party compensation claims.
Extensive professional and industry involvement
Members of our team serve on a number of ASSA Committees (Damages, Enterprise Risk, Health, Microinsurance, Market Conduct), are involved on the FSB’s SAM structures (Governance, Pillar 2) and members of the Microinsurance Working Group of the International Actuarial Association.
Second largest provider of statutory actuarial services in South Africa