Industries
Industries
Traditional Risk Financing or Insurance
The insurance industry contributes significantly to the GDP in many countries because of the provision of safety and security that leads to increase in savings. Goldwyns Actuary provides innovative actuarial solutions to in a changing African insurance landscape read more
Alternative Risk Financing
Alternative risk financing refers to use of techniques other than traditional (re)insurance to protect from risk of loss, with objective to attract non-traditional capital willing and able to absorb insurance risk. Whether it’s a captive insurance company, large deductible program, self-insured entity, public entity pool or syndicate, an alternative risk financing entity is a risk retention program outside the traditional commercial property and casualty market.
Goldwyns Actuary is experienced in popular mature alternative risk financing market such as Bermuda, Cayman Islands, Mauritius, or Vermont (USA) and with the following financial instruments:
- Insurance-linked securities (ILS)
- Captive studies
- Rent an actuary
Microinsurance
This is an insurance practice which offers specified insurance products to those who cannot afford traditional insurance. The concept of microinsurance lets you pay to insure only what you need. For example, it can cover small items such as a one-day trip, a one-time event, or even specific health needs. It is meant to help people with lower incomes, and it can be sold in any number of ways, such as through licensed insurance agents, community groups, microfinance lenders, and other non-governmental organizations.
Microinsurance can apply to almost any kind of insurance product. A typical product being pay-as-you-go auto insurance (also referred to as usage-based insurance or UBI). With this option, you only pay to ensure the miles (or kilometers) that you really drive. Those who drive fewer miles pay a lower auto insurance premium.