XIVONI
Our micro insurance service offering aims to support the insurer that
is targeting the low income segment of the market. The microinsurance landscape
has been evolving in recent times and presents an opportunity for new entrants
to design new and innovative products and sell these products on their own microinsurance licence.
In addition, the recent advances in technology affords the existing micro insurers an opportunity
to engage with their clients more seamlessly using more digital methods for distribution
and customer engagement. Xivoni has partnered with clients on their journey to obtaining their
own micro insurance licence thereby reducing their operating costs.
Xivoni has also been involved
in the design of more digital methods that improve an insurers interaction with their clients and brokers.
In addition to the licence application assistance we provide to our clients,
we also offer ongoing actuarial services including outsourced head of actuarial control function (HAF) services.
Xivoni’s professionals
have extensive experience across the spectrum of actuarial valuations, capital management,
product development and pricing and have been involved in advising clients on
the adoption of IFRS 17, IFRS 9 and the Solvency Assessment and Management (SAM) regime.
Our role is to analyse past data and use that
information to assess the financial implications for specific strategies that an
organisation would pursue. We provide useful information that enables
the management team to take considered decisions as they steer the firm towards
financial prosperity.
At Xivoni, we believe that a rigorous approach to understanding
a client’s unique circumstances, the markets they service, and their strategic goals
is key to providing an advisory service that adds value.
Xivoni’s broad set of skills
and experience places it in a unique position to meet the needs of our clients
and improve their organisation's financial performance.
Data is becoming increasingly ubiquitous and is widely considered as a key commodity
for businesses and the public sector alike. The advent of big data provides an opportunity
for firms to harness large data sets to glean information that can reduce their operational
costs and improve their understanding of their customers behaviour and concurrently unearth
new markets that were previously under served.
Xivoni has worked with firms to design loyalty programs
that match the needs of their clients and advised large content producers to pivot from
their traditional business construct and adapt to the on demand models that customers are in favour of.
Xivoni’s data analytics offering seeks to augment client’s efforts in re designing their product offering
and re imagining their marketing strategies to keep pace with the changing needs of their customers.
The Enterprise Risk Management (ERM) discipline requires an organisation to continuously identify,
monitor and assess risks so as to improve its preparedness to withstand adverse events
that may hamper the effective functioning of the organisation and limit the negative impact
on earnings and the on going solvency of the firm.
Xivoni’s professionals have extensive experience
in designing risk and capital frameworks, implementing the Own Risk and Solvency Assessment (ORSA),
formulating Recovery and Resolution plans (RRP) and conducting internal audits
of an organisation’s processes and plans.
For firms that are in the business of accepting risks
on their balance sheets, this is a key area that must be continually assessed to ensure it is responsive
to emerging risks in the operating environment.
Firms in the financial services industry are compelled to have relatively large balance sheets due
to the regulatory requirements to hold a strong capital base to ensure that adequate reserves
are held to meet client obligations in severe market shocks and on the occurrence
of extreme insurance risk events.
Xivoni’s partners have been involved in large corporate finance transactions,
evaluating investment decisions of the shareholder portfolio and have overseen the ALM functions
of large firms and are well placed to support organisations in developing effective investment strategies.
Xivoni’s actuaries have a wealth of experience in reinsurance which is a key area that can improve
a firm’s value advantage.