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Zimbabwe Actuarial Consultants

Developing local actuarial capacity and providing services at an affordable local cost to the industry.

Every company operating in the insurance sector be it short term, life medical or pensions needs the services of an actuary, Zimbabwe Actuarial Consultants (ZAC) is impeccably placed to over these services. Zimbabwe Actuarial Consultants (ZAC) develops local actuarial capacity and provides services at an affordable local cost to the industry.

Actuarial Objectives

Our overall objective is to provide Actuarial Consultancy services and professional advice to General, Life and/or Health Insurers, Employee Benefits providers, Re-insurers, Brokers and Business and Special Projects. (This is done through the application of appropriate techniques and analytical approaches to monitoring experience and profitability, premium pricing/rating and reserving) Another main objective is to offer innovative solutions that help the clients anticipate and respond to change based on objectivity. (This is undertaken while avoiding conflicts of interest, maintaining integrity and always in the strictest of confidence.)

Actuarial Services

In compliance with International Financial Reporting Standards (IFRSs), Zimbabwe Actuarial Consultants provides the following services:

Delictual Claims

  • Actuarial computation for loss due to accident death.
  • Actuarial computation for loss of earnings due to partial disability.
  • Actuarial computation for loss of earnings due to permanent disability
  • Actuarial computation for loss due to a patrimonial loss

Pensions and Employee Benefits

  • Statutory Actuarial Valuation of Defined Benefit Schemes.
  • Conversion Actuarial Valuation from Defined Benefit to Defined Contribution Schemes or vice versa.
  • Actuarial Valuation of Gratuity and/or Termination Benefit Liability.
  • Defined Benefit and Defined Contribution Pension Scheme design and improvements.
  • Bulk transfer valuations.
  • Reinsurance arrangements.
  • Investment Strategies recommendations for pension funds.
  • Smoothed returns to be allocated to members’ accounts in defined contribution schemes.
  • Advice on scheme rules.
  • Group life ratings.

Life and General Insurance Services

  • Statutory Corporate Valuations.
  • Product Design and Development.
  • Mortality/Claims Investigations
  • Expense analysis
  • Lapse analysis
  • Underwriting, reinsurance and investment strategy recommendations.
  • Pricing and Product Profitability analysis.

Health Care Insurance

  • Pricing, i.e., premium rating and reserving
  • Product Design and Profitability analysis
  • Morbidity/Claims Investigations
  • Expense analysis
  • Withdrawal analysis
  • Medical Aid Scheme Valuations

Investments and Finance

  • Investment Strategy Recommendation
  • Capital Assessment & Management
  • Pure and Risk-Adjusted Performance measurements
  • Stochastic Asset Modelling and Projections
  • Value at Risk measurements
  • Advice on take-overs and mergers

Funeral Assurance Schemes

  • Pricing, i.e., premium rating and reserving
  • Funeral Scheme valuations