The challenge

How can insurers enhance pricing accuracy, governance, and transparency?

The client relied on pricing models that lacked sufficient validation controls, auditability, and analytical depth. One product demonstrated adverse loss ratios, impacting profitability, while the flagship product required stronger pricing justification to reinforce market acceptance. Absence of structured audit trails and visual insights limited the ability to track changes or support pricing decisions confidently.

How we helped

Revamping pricing methodology with stronger validation and transparency

Grant Thornton Bharat conducted a detailed review of the pricing framework and identified key shortcomings affecting pricing accuracy and monitoring. Our recommendations included:

  • Redesigning the pricing model for the underperforming product.
  • Strengthening audit trail mechanisms to track adjustments.
  • Implementing stringent data validation protocols to ensure model integrity.
  • Introducing graphical visualisations for clearer interpretation and pricing transparency.

These enhancements were designed to improve analytical robustness, governance, and decision-making confidence.

The results

Pricing transformation supports profitability and product credibility

The impact of our recommendations delivered dual benefits:

  • The redesigned pricing model positioned the client to convert the loss-making product into a profitable one.
  • Enhanced controls and transparency strengthened the market acceptability of the flagship product.

The organisation now benefits from a more reliable, traceable, and analytically sound pricing environment that supports sustainable performance and regulatory confidence.

In a rapidly evolving insurance landscape, actuarial insight plays a vital role in shaping sustainable pricing strategies. Strengthening models, controls, and data quality enables insurers to respond to market dynamics, manage risk effectively, and support long-term growth.
Narendra Ganpule Partner and Insurance Industry Leader

About our team

Our Actuarial & Risk Advisory Services offer comprehensive solutions for Life Insurance, Non-Life Insurance, and Pension sector players. We specialise in developing robust modelling techniques, designing policies aligned to policyholder needs, and fostering sustainable outcomes. Our expertise includes estimating claim costs, assessing exposure and risk factors, advising on funding and investment strategies, and supporting scheme design and risk management. We also assist in evaluating the impact of mergers and acquisitions on pension schemes, along with reporting, disclosure, and assessment of liabilities and assets. Our team helps insurers strengthen decision-making, enhance resilience, and build long-term value.
Narendra Ganpule
Narendra Ganpule
Partner and Insurance Industry Leader