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PwC

PricewaterhouseCoopers (PwC) Actuarial is an industry expert in advising governments and the private sector on general insurance matters. We are the current primary actuarial advisers to most of the large government insurance and accident compensation schemes in Australia and New Zealand.

PwC Actuarial has been the main provider of actuarial services to the Treasury Managed Fund (TMF) for over 20 years and is the services provider for the workers compensation business of the TMF. Their regular services to icare Self Insurance (formerly SICorp) include:

  • Estimation of target contributions and the allocation of these into deposit contributions for individual TMF-member agencies
  • Communication and explanation of premium results to icare Self Insurance and the large TMF-member agencies
  • Calculation of hindsight contribution adjustments
  • Communication of trends in claims experience to icare Self Insurance and TMF-member agencies via quarterly claims monitoring reports
  • Quarterly valuations of outstanding claims liabilities for the TMF
  • Semi-annual budget forecast projections for the TMF
  • Calculation of incentive fee remuneration for TMF claims management service providers
  • Assistance with the maintenance of data quality
  • Providing information for the placement of icare Self Insurance’s reinsurance contracts

In addition to the above, PwC also provides ad hoc advice to icare Self Insurance where actuarial analysis is required, or where we can draw on our industry experience to offer practical solutions. Examples where PwC have provided ad-hoc advice include:

  • Costing the impact of legislative changes on the TMF’s workers compensation line of business
  • Investigating the underlying causes of specific changes in claims experience and projecting the impact on future claims costs
  • Assisting icare Self Insurance with the setting of its strategic plan and targets for claims experience
  • Assisting icare Self Insurance with the design of agency reports

Contacts

Andrew Smith
Lead Senior Actuary
Tel: (02) 8266 4928
Email: andrew.smith@au.pwc.com
 
Updated: 26/10/16
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