Actuarial Resources Corporation of Georgia (ARC-GA) specializes broadly in actuarial consulting, investor analysis, mergers and acquisitions, software development, systems consulting, and expert witness services.
ARC-GA is owned and managed by its professional staff, allowing us to best serve our clients objectively and independently. Services are provided to various organizations with interests in the life and health insurance industry.
Our professional staff includes experienced Fellows of the Society of Actuaries, backed up by actuarial staff using financial modeling software and tools.
Life and Health Insurance Companies
Statutory Financial Reporting
- Valuation
- Asset liability management
- Cash flow testing
- Traditional reinsurance arrangement valuations
- AG 38 compliance
- AG 48 compliance
- Principle-Based Reserves
- Development of Net Premium Reserve, Deterministic Exclusion Test and Stochastic Exclusion Test models for Term, Whole Life, No-Lapse Guarantee Universal Life, and Index Life products
- Development of assumptions and margins
- Development and analysis of Deterministic Reserves and Stochastic Reserves
- Ensuring that the financial reporting, and experience study and statistical agent reporting are in place so as to comply with VM-G, VM-31, VM-50 and VM-51
- Fulfill appointed actuary role
Non-Statutory Financial Reporting
- GAAP for stock companies
- GAAP for mutual companies
- Model-based financial reporting approaches such as value-added, or similar internal management financial reporting, variance analysis and experience monitoring
Modeling Applications
- Model building
- Development of practical liability and asset models
- Financial projections for planning
- Cash flow testing
- Actuarial appraisal
- Model-based financial reporting
- Computerized assembly of sub-models produced by any actuarial software to generate verifiable total company models, including financial items not readily handled by standard software packages, and in doing so, providing management with an effective tool for “what if” analysis and variance analysis
Financial Analysis
- Product Analysis and Comparison
- For insured products
- For self-funded plans
- Benefit analysis
- Expense forecasting
- Reserve evaluation and adequacy
- Reinsurance Analysis
- Conventional reinsurance
- Financial reinsurance
- Reinsurance for variable products
- Federal Income Tax Issues
- Company tax issues
- Policyholder tax issues, including IRS §7702 definition of life insurance
- Agency Structure and Compensation
- Analysis of marketing strategies
- Analysis of agency compensation structures
Product Development
- Products include:
- Individual life and annuity, including pricing of PBR products
- Individual accident & health
- Group life and health
- Preneed final expense insurance
- Credit life and health
- Variable products
- Product design
- Product pricing
- Preparation of actuarial memorandums and related nonforfeiture documents for products filings for both states and IIPRC
- AG 49 compliance
- Fulfill illustration actuary role, if needed
Inforce Management
- Product management/repricing
- Preparation of rate filings for A&H products, including:
- Long-Term Care
- Cancer
- Critical Illness
- Medicare Supplement
- Accident
- Dividend scales
Actuarial Appraisal for Buy/Sell/Merger/Change Evaluation
- Development of actuarial appraisals of companies or blocks of business
- Background reports
- Demutualization calculations
- Review of appraisals done by other actuaries
- Earning evaluation and corrective action recommendations
- Projections and advice regarding diversification of corporations
Enterprise Risk Management and ORSA Reviews
Regulators and Regulatory Support Organizations
State Insurance Departments
- Reserve/Liability examinations
- AG 38 compliance
- AG 48 compliance
- Principle-Based Reserves
- Review of Net Premium Reserve, Deterministic Exclusion Test and Stochastic Exclusion Test models for Term, Whole Life, No-Lapse Guarantee Universal Life, and Index Life products
- Review of assumptions and margins
- Review of Deterministic Reserves and Stochastic Reserves
- Review of VM-G, VM-31, VM-50 and VM-51 reporting
- Targeted market conduct exams
- Triennial/Quinquennial examinations
- Required surplus analysis
- Review of ORSA filings
- Review of Life, Annuity, and Accident & Health product filings
- Review of Accident & Health rate increases
- Review of ACA-related filings
- Review of new or proposed regulations
- Credit Life and A&H Prima Facie rate development
IIPRC
- Review of Life, Annuity, and Accident & Health product filings
- Review of Accident & Health rate increases
NAIC
- Contractual support of new and developing actuarial needs
National Regulatory Organizations
Industry Groups and Trade Associations
- Contractual support of new and developing actuarial needs
Non-Traditional Actuarial Clients
Prepaid Tuition Programs
- Benefit design including limited benefits
- Development of prices
- Program valuation
- Program shutdown analysis
- Stochastic analysis
- Legislative testimony
- Analysis of alternative payout options
- Development of strategies to deal with chronic defects
Public Accounting Firms
- Financial and reserve audits
Law Firms
- Expert witness work