The firm WNS and Actuarial Risk Management (ARM) are to team up in an effort to offer end-to-end actuarial services.
The two companies said that as part of this partnership, ARM will offer its clients WNS’ offshore-centric actuarial services and end-to-end insurance capabilities including front, middle, and back-office solutions. WNS will use ARM’s 250 senior-level credentialed actuaries to provide its BPM clients with complimentary, project-based strategic advisory services.
Keshav R. Murugesh, group CEO of WNS, said: “We are excited to join forces with ARM. Our industry-leading, end-to-end capabilities in the insurance industry combined with ARM’s onshore and near-shore actuarial resources will help insurers scale faster and respond to changing market conditions. Furthermore, in a market characterised by rising risk factors, regulation, and actuarial labor challenges, this partnership will enable insurers to access cost-effective and differentiated end-to-end insurance operations solutions,” said.
This latest announcement comes nearly a year after WNS went into another partnership, that one with Pacific Life, to provide end-to-end support for the latter’s Pension Risk Transfer business.
Corwin Zass, founder of ARM, said in a statement that the firm was gaining a partner that helps global insurers accelerate their digital transformation journey.
He added: “With WNS, we gain a partner that collaborates with global insurers to accelerate their digital transformation journey. ARM’s experienced onshore and near-shore insurance actuaries, coupled with WNS’ actuarial services will raise the bar on the transformation model that we deliver to our clients. From IFRS 17 and US GAAP LDTI project demands to staff shortfalls with recurring reporting and capital requirements, this alliance opens the possibilities for many over-strained and under-resourced insurers.”