BELTIOS is the contact partner for both specialised divisions and management. We provide sound professional support for problems at a detailed level, without losing sight of the economic necessities and our client’s company as a whole. When it comes to implementation, we offer our support and demonstrate the practicability of the proposed solutions.
The range of services offered by BELTIOS is organised into three areas:
- Financial mathematical and actuarial support (Mathematics and risk management)
- Strategy and process consulting
- Realisation: implementation of the developed solutions
In the following, there are two services represented through examples:
Activities focused on “Technical Core Systems”
A main focus is the design and (further) development of technical core systems of insurance companies (in particular projection, actuarial and contract administration systems), in which the BELTIOS consultant can prove to have several hundred years of working experience.
This knowledge extends from deep actuarial expertise and business process knowledge about the necessary software technical know-how right up to broad knowledge of different versions on the market systems – from small pragmatic right up to large systems of standard software providers.
BELTIOS has numerous concepts, which are introduced in client projects as needed, and solution building blocks for typical questions in the (further) development of these systems.
Activities focused on “Risk Modelling”
Another focus is the actuarial risk modelling, using all major computer platforms. BELTIOS provides wide services in that area – from the design of new, tailor-made models on the development and validation of existing models to the embedding of the models in the business processes (e.g. risk analysis, profitability calculations, cash flow projections or reinsurance optimisation).
The aim is to support the usefulness of models and to increase the design quality for the customer. Based on this, BELTIOS particularly supports Solvency II and models consistent with the requirements of the new regulatory regime. This includes the expert monitoring of the certification of internal models, as well as the implementation of the standard formula calculations, the suitability of the standard formula and the implementation of ORSA/FLAOR requirements.
The interdepartmental know-how is also used in the design of new processes or functions within the framework of the implementation of Solvency II, e.g. the actuarial function. The implementation of the developed concepts can also be performed by BELTIOS. In addition we could act as such a function on behalf of the client. Also, BELTIOS offers support in clarifying the applicability of models for different requirements (e.g. IFRS 4).