Actuarial Solutions Limited was founded in 1999 with the objective of using the latest software development techniques to provide actuaries with the tools to solve practical problems quickly and easily.
In the past, many of these tools were developed in-house by actuaries and actuarial students who had the time and inclination to undertake the programming themselves.
With the increased complexity of calculation required due to more advanced techniques used in the actuarial profession and the demands of government regulation, this ad hoc approach to IT tools has come increasingly under strain.
Professionally developed software can save time and money by providing increased efficiency, reliability and ease of use, thus releasing valuable in-house expertise for fee-earning work.
Past IT projects include development of a valuation system for defined benefit pension schemes, a system for calculation of compensation under the Financial Services Authority review of FSAVC policies, the valuation of unit-linked insurance policies, pension transfer analysis system and TAS M compliance review.