Polish actuaries are growing - new challenges for Triple A - Risk Finance

After strengthening the Triple A - Risk Finance team, a boutique consultancy company from the Netherlands providing services in the field of actuarial and risk management, sets the direction of its development on the Polish market. Ambitious goals will be implemented by a Warsaw team managed by Franciszek Gregorkiewicz and Piotr Lachowicz, an experienced manager and actuary who joined the company at the end of 2016.

So far, Triple A - Risk Finance consultants, a company that has been operating in Poland since January 2014, have been mainly involved in large projects in the Netherlands. Now they will develop services in other markets and increase their scope in Poland. The team - just expanded by new actuaries and econometricians is managed by Franciszek Gregorkiewicz and Piotr Lachowicz who has many years of experience in the financial industry, gained on 

key functions and managerial positions. - Our consultants have been appreciated many times by our Dutch partners - we would like to use their experience, knowledge and commitment on other markets, primarily Polish - says Piotr Lachowicz.

- I have experience in managing large teams and complex structures, but I always remain a business practitioner. My pragmatism and focus on transparent and understandable solutions correspond to the Triple A philosophy. We think "out of the box" and act not only "for customers", but above all "together with customers". The most important for us is the ongoing contact with customers - thanks to this we can flexibly adapt to the existing processes and culture of their organization. What is very important, our experts have experience gained both in insurance and consulting companies. It is a huge value - says Piotr 

Lachowicz, Managing Partner of Triple A in Poland. - This year, we want to establish long-term cooperation with several significant financial groups, offering implementation of the "tailor-made" solutions.

On the Dutch market Triple A focuses primarily on consulting for insurance companies, consulting in the field of risk management and strategy as well as consultancy in the segment of pension funds; in Poland the first two areas will be the most important in the near future. The services provided include comprehensive consulting and implementation in the field of actuarial modeling, solvency and capital management, design and optimization of 

reporting processes, profitability analysis and valuation of insurance products, valuation of portfolios and insurance companies and market consistent valuations, as well as "management consulting".

- The insurance industry in Poland is subject to more and more regulations. That is why a large part of our services includes analysis of practices, models, methods and processes in terms of their adequacy and compliance with requirements, in particular in relation to reporting. A very important area are the services related to Solvency II. Here we strongly use the experience of the Dutch market - says Franciszek Gregorkiewicz, Managing Partner of Triple A.

- In connection with the new regulations, we observe several new trends, in particular in actuarial modeling. A lot of effort is put on the optimization of reporting processes, including the improvement of the actuarial models' operation and their automation which brings tangible benefits to companies. In the short-term, it enables faster access to information and data and improving their quality, and in the long-term real cost savings. This applies to 

both known and common solutions such as Prophet or MoSes / RAFM, as well as open-source platforms. We want to inspire our customers to introduce such changes because the recipients expect information much faster than just after a few weeks - adds Gregorkiewicz.

- The insurance industry in Poland is still awaiting further transformations. As a company providing services to the largest Dutch companies such as Nationale-Nederlanden, Delta Lloyd, VIVAT or Aegon, we are present on the Polish market with the unique experiences. This is a strong asset. There is a lack of medium-sized consulting companies in the actuarial area in Poland. Filling the niche between large players, mainly from the "big four" group, and small companies or even individual consultants, we plan to enter the top league in the country soon - says Roel van Besouw, CEO of Triple A - Risk Finance International, who also emphasizes that Poland is the first Triple A market in Central and Eastern Europe, but perhaps not the last.

To achieve these goals, the company invests in the development of employees. - According to the Triple A philosophy based on open sharing of expertise and experience in the field of actuarial and risk management, we care not only for cooperation with the best insurance market experts, but also for their further personal development. It is worth emphasizing that although Western markets have much longer traditions, Polish actuaries are well-educated and have comprehensive skills - adds Piotr Lachowicz.

The Triple A - Risk Finance team has completed over 100 consulting projects for the largest financial institutions in Europe: insurance companies, pension funds, banks and corporations.

Detailed information about the portfolio of clients and the company's experience is provided by Franciszek Gregorkiewicz, Triple A - Risk Finance Managing Partner in Poland: franciszek.gregorkiewicz@aaa-riskfinance.pl.