Our actuarial services are personal and tailored to your needs, integrated into your environment, dynamic and reliable, understandable and accurate:
- Analyze risks, model mathematically and present the results in understandable language.
- Examine relationships, map them to processes and connect knowledge from various sources within the organization.
- Oversee these areas comprehensively and cohesively—from the foundational level of claims details and actuarial practice to your business's big picture and long-range goals—as your responsible actuary.
The specifications of our work will be designed to best meet your needs in manner, scope and schedule.
Let's discuss how my services would benefit your company. I look forward to hearing from you.
Founder and Managing Director
ORSA - Own Risk and Solvency Assessment
The ORSA directive introduced in connection with the European directive addressing solvency assessment is to be implemented by EU insurance companies starting in 2016 and by Swiss insurance companies starting in 2017. To this end, the Swiss Financial Market Supervisory Authority, Finma, has adapted the implementation process to the distinctive features of the Swiss insurance landscape.
ORSA describes the present and future processes utilized to
- monitor, and
In this context, the term «risks» is interpreted broadly: In addition to quantitative risks like the ones described in the Swiss Solvency Test (SST), qualitative risks, controls, and general risk management need to be taken into consideration. Furthermore, the anticipated capital requirement is compared with available capital within the context of a long-term planning period of at least three years. Potential and feared scenarios need to be analyzed by means of scenario testing.
According to the draft of the relevant circular published by Finma, companies in supervisory categories 2 and 3 will need to file a comprehensive ORSA report with Finma. Small and middle-sized businesses in supervisory categories 4 and 5 can safely assume that their auditing firm will want to examine their documentation. ORSA does not apply to health insurance funds subject to institutional supervision by the Federal Office of Public Health (BAG).
Every insurer in Switzerland is thus facing an enormous challenge, for which planning needs to get underway now so that they can take action for implementation over the course of 2016. Companies that lay the groundwork even before the final circular is published will reap the rewards.
We would be happy to assist you with everything from planning to implementation to documentation and look forward to hearing from you.
After receiving a primary school teaching diploma and teaching at the primary school level, I studied Mathematics, Computer Science and Actuarial Science at the University of Zurich, and earned a Masters degree in 2000. Subsequently, I completed in-service training to become a fully qualified actuary with special expertise in Financial Mathematics at the German Actuarial Academy. Since 2003, I've been a member of the Swiss Association of Actuaries SAA (SAV) and the German Actuarial Association GAA (DAV); since 2013 examiner for the SAV.
My experience includes:
- Zurich Financial Services, Zurich: Group Actuarial, general insurance and reinsurance
- Gerling Global Re, Zug and Cologne: Actuarial modeling, commutation pricing and technical provisions
- KPMG, Zurich and Europe: Consulting for and audit of national and international insurance and reinsurance companies
- KPMG, Zurich: Trustee of the Pension Fund
- Intuitive Collaboration, Zurich: Actuarial consulting, risk modeling, software development: www.pillarone.org
I am the responsible actuary for several Swiss insurance companies and have an active practice as an actuary working on a consultancy basis.
Studies of Mathematics and Business Administration with a focus on Stochastics and Actuarial Science at the University of Göttingen finished in 2011 with the Diploma degree. Following in-service training at the ETH Zurich to become fully member of the Swiss Association of Actuaries, currently 11 of 15 exams successfully passed. Between 1999 and 2011 Teaching of Mathematics in partime.
- Mercer Switzerland, Zurich: Actuary in the field of Retirement Consulting
- PPC Metrics, Zurich: Actuarial Consulting, Risk Management and Asset Liability Management
The focus of our consultancy is actuarial issues, with both quantitative and qualitative aspects considered.
Services offered by Azenes include:
- General insurance/non-life, health and accident insurance and reinsurance (VVG, KVG, UVG)
- Role as responsible actuary, approved by Finma for general insurance/non-life, health insurance and reinsurance as well as captive insurance
- Regulatory work including those for Finma and BAG (for example: creating business plans)
- Technical provisions and reserve reviews
- Technical accounting for IFRS and U.S. GAAP, Swiss GAAP FER, statutory accounting
- Capital Modeling: Swiss Solvency Test (SST) and Solvency II
- Reinsurance modeling
- Processes and internal control systems
- Member of board of directors/trustee for insurance companies and pension funds
If you would like references, we would offer you contact information and an introduction to one of our clients.
In close alignment with your existing internal and external functions, we offer assistance in the field of quantitative analysis of your insurance portfolio, as well as of your processes and internal control systems.
- Many years of experience as an auditor at KPMG and my actuarial expertise provide a useful and effective supplement to your internal audits.
- Astute questions for the Board of Directors or the Executive Committee—and careful listening to their replies—afford a clear analysis of the current situation and the possible next steps: How large are the individual risks in your company? What is the status of your internal control system? Where might we identify a blind spot in your very precise internal model? Do you have excessive or overly complex controls?
- Communication with the auditor and those doing external oversight ensures that the finished work is productive, accurate, effective.
Please contact us to learn how Governance can benefit your company instead of being burdensome.
Reliability is key to ensuring consistent, exceptional performance:
- Openness: During an engagement we speak openly and transparently with you.
- Confidentiality: We never speak to others about our work with you. (We will gladly supply references on request after consultation with the clients who we believe will be most appropriate for you.)
- Expertise: Our continuous training and the broad network we have established over the years mean that our contribution is quite thorough and current with all best practices, regulations and knowledge in our field.
- Four-eyes principle: In consultation with the client, we offer free quality assurance. Based on anonymised data we ensure such quality checks on a regular basis, for example, complicated Excel sheets are checked by niceadvice.
- Data: Azenes’s servers are located in one of the most secure data centers in Switzerland (in Glattbrugg near Zurich).
- Liability: Azenes is insured for financial loss liability.
- Deputy: We offer clients a complimentary deputy to ensure consistent service.
Interested in knowing more? We can review these topics with you personally.
For further technical fields or larger projects, we have long-term partnerships with experts in:
- Pension Consulting: c-alm
- Life insurance: FS Consulta
- Audit for insurance companies: BDO
- Reinsurance pricing: PRS
- Econometric Consultancy: Polynomics
- Modeling software: PillarOne
- Computer science for insurance: Intuitive Collaboration
- Insurance fraud and white-collar crime: Arno Thürig, Rechtsanwalt
- Detection of insurance fraud: addResults
- Services for the healthcare market: RVK
We would be pleased to connect you with a key person at any of these companies, as needed.
Azenes is seeking cooperation in the areas of life insurance, modeling as well as Risk Management for the development and implementation of business-ideas. I look forward to hearing from you!
As of financial year 2014 the so called UVG Betriebsrechnung are verified by Azenes in cooperation with Intuitive Collaboration. For this purpose the portal betriebsrechnung.ch has been implemented (process overview).
As of financial year 2013 the so called UVG-Risikostatistiken (Hausstatistik HAST and Gemeinschaftsstatistik GEST) are verified by Azenes in cooperation with Polynomics following the concept published earlier under the label Solvero. It's an honour for Azenes and Polynomics being selected by the SVV.
Documentation of the training for the KVG-solvency test:
Our cooperative relationship between Azenes and RVK is described in the brochure Information 4/2011 on page twenty-six.
Azenes is engaged to education such as:
- Unicef is supporting children and their education.
- Wikipedia allowing unknown sharing of and access to information.
- Studienaktie.org bringing together students and coaches, mentoring with advice and financial support. A short report broadcasted by TV SRF.