Actuarial Services

At SFAI Türkiye, we aim to provide services that meet your needs in the field of actuarial services. To this end, our expert actuarial team analyses your company's data as accurately as possible to meet your needs.

Our aim is to take a value-focused approach to the actuarial issues and needs of financial services companies, to make developments and improvements from a risk management and actuarial perspective in order to achieve economic and financial objectives, and to turn complex data into practical business solutions with our risk and analytical skills.

We provide advisory services to life and non-life insurers, reinsurers, banks, managers, regulators, brokers, agencies and associations. We have broad experience of the domestic and international insurance sector and help companies with actuarial modernisation, process improvement, risk and capital management, value analyses and financial reporting.

Actuarial advisory

Actuarial advisory services provided to companies:

• Best-estimate insurance reserve calculations (IBNR)

• Implementation of pricing and reserving tools

• Actuarial and financial modelling

• Embedded value calculations

• Loss ratio and premium adequacy analysis

• Financial, accounting and reporting support under international standards, compliance with standards, impact analyses and implementation, and training

• Appointed actuary services

• Comprehensive review of actuarial processes and results

• Actuarial support in mergers, acquisitions and disposals

• Actuarial department support services

Life and non-life insurers

Helping insurance and reinsurance companies operating in the Turkish insurance sector to meet new financial reporting requirements by assessing the financial and commercial effects of changes in insurance and related legislation, drawing up implementation plans and fulfilling the relevant requirements, particularly in areas of change in financial reporting (for example, insurance contracts and principles-based reserving).

Risk, capital management and Solvency II-compliant capital calculations

Determining how well prepared insurance and reinsurance companies are to comply with Solvency II; advising companies on emerging risk management and regulatory changes; helping them design and implement enterprise risk management frameworks; analysing the expected effects of Solvency II on companies; and measuring and managing risk and capital against a range of statutory, internal and external requirements, including risk-based capital and economic capital. Using analytical and simulation models to help improve operations, profitability and competitive position.

Provision for employee termination benefits

Calculating, with best estimates and the most accurate and reliable actuarial assumptions, the provisions for severance pay that companies are certain to pay their employees when certain conditions are met, and forecasting when and how much severance pay will be paid to employees.

Insurance modernisation

Significant commercial and regulatory developments in the insurance sector require companies to improve their finance, actuarial, risk and capital management practices. We help insurers build finance, risk and actuarial organisations by identifying the tools, skills, capabilities and resources that will enable them to achieve their business strategy objectives and respond effectively to market developments, and we help companies measure and manage risks and optimise business performance.

Claims and insurance operations

Increasing the efficiency of operations in insurance and reinsurance companies, analysing unforeseen reserve development, making system improvements, and reducing costs by improving claims and management protocols. Ensuring policyholder satisfaction in claims and insurance operations in the light of technological developments and using company resources as effectively as possible. Analysing the current state of insurance/claims processes in line with companies' requests and expectations, and optimising those processes by setting strategies according to the findings and needs revealed by these analyses.