The Quantium Group provides specialist General Insurance actuarial services to many of Australia’s leading insurers.

Bringing together the rigour of actuarial science and commercial experience, we bring a unique perspective to business problems, which can influence all aspects of business strategy. Quantium is at the leading edge in applying sophisticated actuarial techniques in the modern insurance environment.

Working closely with internal actuarial and pricing teams, Quantium creates customised, breakthrough solutions which lead to the creation of competitive advantage, sustainable business performance and shareholder value improvements.

Quantium has extensive experience across the spectrum of General Insurance activities including pricing; price optimisation; demand modelling; stochastic modelling; capital management; and cross-sell.

What We Do

Financial Projections

Knowledge Transfer and Training

Careers

Quantium assists actuaries, underwriters, product managers and senior executives in the areas of product pricing, price elasticity, profit optimisation, cross sell, stochastic modelling, capital management, reserving, and financial projections.

In addition, we are the sole distributor and local support for EMB's software products in Australia and New Zealand. Please see our Software section for more details.

Product Pricing

We undertake product pricing assignments, using advanced actuarial techniques to measure all impacts on product pricing. From rating structures to pricing strategy implementation, Quantium can assist with all aspects of the pricing process.

Using our proprietary insurance pricing software EMBLEM™, we have applied generalised linear modelling techniques to most personal lines and small commercial lines classes of business.

Using the latest EMBLEM™ add ons Classifier™ and Rate Assessor™, we are at the forefront of applying spatial smoothing techniques to geographic rating and in assessing the impact of proposed rating structures.

Demand Modelling

We offer services to support the modelling of consumer demand for insurance products – including price elasticity for both new and renewal business.

Profit Optimisation

Demand models combined with profitability measures provide the platform for profit optimisation tools. A range of techniques are available: from identifying opportunities in currently profitable and unprofitable segments of the portfolio, to individual policyholder pricing. Profit optimisation tools are fast becoming “must-haves” in the current environment.

Stochastic Modelling

Using Igloo™ as our preferred platform we employ stochastic modelling techniques to solve a variety of key business issues such as effective capital management, enterprise risk management, managing growth, demonstrating financial strength, optimising reinsurance or asset strategy, stochastic pricing, and business planning.

ExtrEMB™, the latest addition to the EMB software range, now makes the previously time consuming and technically demanding role of calibrating DFA models (built in Igloo or an alternative environment) both much quicker and technically sound.

Capital Management

Integrating an understanding of the financial risks facing clients with appropriate risk modelling tools, we assist with determining strategies to manage both internal and external (regulatory) capital requirements.

Reserving

Quantium’s actuaries have vast experience in reserving for many classes of general insurance in Australia, including both short and long tailed classes.

Financial Projections

We also provide services for financial projections to assist with a variety of business issues, including budgeting, reporting and financial assessment.

Knowledge Transfer and Training

We understand that many of our clients wish to develop the in-house skills and capabilities to do what we do. Almost all of our projects include a substantial knowledge transfer and training element. In addition to on the job training, we regularly run training workshops and seminars for our clients on topics such as best practice pricing and stochastic modelling techniques.

Careers

Our success relies on our people. As such, we are always on the lookout for potential recruits. If you have a high level of numeracy, strong communication skills and a real passion for solving client problems, you could be a good fit within Quantium.

Whether you are a university student, actuarial analyst or an experienced actuary we would be interested in hearing from you. For further information, contact Caroline Stevenson at caroline.breipohl@quantium.com.au or on + 61 2 9292 6411.

Software

Quantium is the sole Australian distributor for a number of software products developed by EMB, our UK actuarial consulting partner. These products have been designed for use across many different types of organisations and by individuals with a wide range of technical skills. The software is used extensively on client projects within Quantium, enabling us to achieve considerable cost savings for our clients.

As well as being the local distributor for these products, we also offer product help and support to local clients. In addition, full training for users at all levels can be provided at competitive rates.

We currently have eight main packages:

EMBLEM is a revolutionary software package specifically tailored to the pricing of personal lines and small commercial business. It opens up statistical techniques to both the statistician and non-statistician alike, allowing the user to concentrate on the analysis itself, rather than on the previously time-consuming process of manipulating data and results.

Rate Assessor is a tool that assists in the design of new products and the review of existing products. It has been created to bridge the gap between models and implementing rates, having been designed to complement the EMBLEM system.

Classifier allows users to assess existing classifications or create new classifications of rating factors such as postcode. It includes spatial smoothing and mapping facilities.

Igloo Professional is a financial simulation engine that helps to take account of the uncertainties of the real world in business decisions and forecasting. It is designed to help actuaries and analysts create financial models that provide meaningful answers to complex problems.

ResQ Pro is a claims reserving package suitable for all kinds of general insurance business. Its sophistication and flexibility, combined with speed and simplicity of use, reflect many years of practical loss reserving experience.

ExtrEMB is a toolkit that enables users to parameterise financial simulation models with appropriate techniques and distributions. When used in conjunction with Igloo Pro, ExtrEMB facilitates the investigation of optimal business strategies.

PrisEMB is unique in commercial insurance and reinsurance because it brings together the four key components required for effective underwriting management: data, pricing, reserving and management information. As a result, it gives underwriters more time to concentrate on relationships, bottom line profitability and planning.

RePro converts reinsurance programmes into graphical representations, enabling users to analyse their covers and exposures. It helps explain issues regarding reinsurance programmes and inwards coverage blocks to senior management.

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