Insurance Strategy

Insurance companies need to make decisions about which products to offer, which markets to enter, and how to structure and distribute their business. These decisions have large financial consequences, and analytical work is needed to evaluate the options. The goal of an insurance strategy project is to give decision-makers a clear picture of the market, the competitive position, and the financial implications of different choices.

The work involves gathering and analysing market data, building financial models to compare strategic scenarios, and preparing presentations of findings. You collect data on market size, growth rates, and competitor positioning. Financial modelling is central: you project the costs and revenues of entering a new market, changing the product mix, or acquiring a competitor.

The main tools are Excel and Python for financial modelling and data analysis. Knowledge of the insurance industry is important: the work requires an understanding of how insurance products are structured, how claims and costs drive profitability, and how regulation shapes the competitive environment.

Insurance strategy work sits within the Actuarial Sector and connects to the Actuary and Data Analyst roles. It is most common at larger insurers and reinsurers, and at management consultancies advising the sector. In the Netherlands, DNB and the AFM regulate insurer conduct and solvency, which shapes the environment in which strategic decisions are made.