New assessments: Revenue growth is likely to support rising profit and new industry entrants

Firms operating in the Actuarial Consulting Services industry use statistical models to assess risk in order to place a price on risk and mitigate the cost of that risk to their clients. The industry provides pension, insurance, enterprise risk, financial advice and organisational design consulting. The majority of industry revenue is derived from catering to the insurance and financial services sectors, which comprise approximately 95% of industry revenue. In the current year, industry revenue is estimated to grow by 2.6% to reach approximately £3.1 billion.Over the five years through 2018-19, industry revenue is expected to increase at a compound annual rate of 3.4%...read more.

Industry Statistics & Market Size
Revenue
£3.1bn
Annual Growth 14-19
3.4%
Forecast Growth 19-24
Profit
Employment
17,181
Businesses
95

Industry Threats & Opportunities

  • Regulatory reform boosted demand, but a shift to DC pension schemes dampened growth
  • Investment banks and fund management firms have been increasingly requesting industry services
  • Demand from the General Insurance industry is expected to slow over the next five-year period
  • Industry Report - Industry SWOT Analysis Chapter

    The Actuarial Consulting Services industry is in the growing stage of its life cycle. Over the 10 years through 2023-24, industry value added (IVA), which measures the industry’s contribution to the economy, is estimated to grow at a compound annual rate of 3.4%. This indicates that the industry will grow at a faster pace than UK GDP, which is estimated to grow at a compound annual rate of 1.7% over the same period. Therefore, the industry is in the growth stage of its life cycle.The industry is undergoing considerable merger and acquisition activity, with the larger players acquiring smaller firms. The value of actuarial consultants is well accepted across downstream industries. The...purchase to read more.

    Additional Insights for the Actuarial Consulting Services Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Actuarial Consulting Services Industry are

  • Access to highly skilled workforce
  • Ability to compete on tender
  • Effective quality control
  • IBISWorld analysts also discuss how external factors such as Demand from pension funding and Demand from banks in the Actuarial Consulting Services industry impact industry performance..

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    What's in this report

    What is the Actuarial Consulting Services Industry?

    Firms in this industry assess risk and uncertainty by using statistical models, then create policies to minimise the cost of that risk to their clients. The industry excludes actuaries that are employed in-house by non-consulting firms such as insurance companies.

    Industry Products
  • Pension consulting
  • Insurance consulting
  • Enterprise risk management and strategy consulting
  • Financial advice
  • Organisational design consulting
  • Industry Activities
  • Actuarial consulting activities relating to pension schemes
  • Actuarial consulting activities relating to the insurance industry
  • Actuarial consulting activities relating to risk management and investment
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Demand from pension funding
  • Demand from banks
  • Demand from general insurance
  • Demand from investment banking and securities brokerage

  • Current Performance
  • Pension performance
  • Diversifying demand
  • Profit growth
  • Chart: Revenue Growth

  • Industry Outlook
  • Pension developments
  • Insurance risk mitigation
  • Demand conditions
  • European uncertainty
  • Profitable environment
  • Table: Actuarial Consulting Services Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Actuarial Consulting Services Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Life Insurance
  • General Insurance
  • Reinsurance
  • Pension Funding
  • Financial Management

  • Key Selling Industries
  • Computer & Computer Equipment Repair
  • Computer & Gaming Product Retailers
  • Office Equipment Rental & Leasing

  • Products & Services
  • Pension consulting
  • Insurance consulting
  • Enterprise risk management and strategy consulting
  • Financial advice
  • Organisational design consulting
  • Chart: Actuarial Consulting Services Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Retirement and pension plans
  • General, property and casualty insurers
  • Life and health insurers
  • Financial services companies
  • Government and other markets
  • Chart: Major Market Segmentation for the Actuarial Consulting Services Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitWagesOther
  • Chart: Cost Structure Benchmarking – Sector vs Actuarial Consulting Services

  • Basis of Competition
    Internal competitionExternal competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Actuarial Consulting Services Industry

  • Industry Globalization
    Willis Towers Watson plc, Marsh & McLennan Companies Inc, PricewaterhouseCoopers LLP, Aon Hewitt Ltd, Deloitte LLP, Ernst & Young LLP,
  • Table: Willis Towers Watson plc - financial performance
  • Table: Marsh & McLennan Companies Inc - financial performance
  • Table: PricewaterhouseCoopers LLP - financial performance
  • Table: Aon Hewitt Ltd - financial performance
  • Table: Deloitte LLP - financial performance
  • Table: Ernst & Young LLP - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Actuarial Consulting Services Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Actuarial Consulting Services Industry
    Includes:
  • Industry Revenue (2010-2024)
  • Industry Gross Product (2010-2024)
  • Establishments (2010-2024)
  • Businesses (2010-2024)
  • Employment (2010-2024)
  • Wages (2010-2024)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Actuarial Valuation
  • A type of appraisal that uses economic and demographic assumptions to estimate future liabilities.
  • Basel Iii
  • A regulatory framework on market liquidity risk, stress testing and bank capital adequacy.
  • Db
  • A defined benefit pension plan is where the employer provides its employees with a defined monthly benefit upon their retirement.
  • Dc
  • Defined contribution pension plans have the employer contribute a specified amount, which is then invested, and what the employee receives upon retirement depends on the investment's performance.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Actuarial Consulting Services market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Actuarial Consulting Services:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Actuarial Consulting Services market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Actuarial Consulting Services, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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