Nicholas Actuarial Solutions Sdn Bhd

Nicholas Actuarial Solutions Receives SME100 Awards 2023

Kuala Lumpur, Malaysia– Nicholas Actuarial Solutions receives the SME100 Awards 2023 under the category of Fast-Moving Companies organized by the SME100 Group held at the Imperial Ballroom, One World Hotel, Selangor. Nicholas Yeo, their founder and actuary, is invited to be the recipient of the award.

n-actuarial have a talented team of over 40 people in the international and professional arena. The company’s strong and experienced team has held senior positions across all functions of securities including general management, marketing, risk, finance, actuarial, employee benefits, product, and strategy.

Nicholas Actuarial Solutions have an inclusive hiring process, enabling the firm to hire the top performers in the industry. The unique team member success framework ensures that the team’s pay, progress, and preferences are addressed. Diversity, equity, and inclusion (DEI) best practices have been embedded into the firm’s business strategy, where n-actuarial closely listen to the team and provide them with the support needed to perform at their best.

The turnover of the company is consistently on the rise in the past 3 years. Throughout this period of growth, the business has remained profitable.

n-actuarial’s large and diverse client base is a further testimony of the unparalleled success of their business. As a market leader in the insurance space, their clients range from the largest multinational insurance companies in the region to household local insurance companies in Malaysia, Singapore, Brunei, Cambodia, Indonesia and Myanmar.

Outside of the insurance sector, the firm serve both the public and private sectors, providing actuarial and analytics solutions. The team’s strong business acumen enables them to understand the challenges faced by different organizations in different industry sectors, thus adding value to their diverse clients. For example, n-actuarial serve large conglomerates, large banks and governmental organizations.

Nicholas Actuarial Solutions are well positioned for growth, with their business spread across the region and clients from around the globe. Aside from the firm’s operations in Malaysia where they have a presence in KL and Penang, they have also established subsidiaries in Singapore, Indonesia and Cambodia. The investments into these business units have paid off as this has enabled them to better understand these markets and gain access to a larger regional client base.

Currently, approximately half of the firm’s revenues are generated from clients within Malaysia whilst the remainder of the revenues are from outside of Malaysia. Aside from clients from the ASEAN markets where n-actuarial is a clear market leader, they also have clients from Australia, Europe, Africa and North America. n-actuarial’s work is highly sought after internationally, as the firm’s dynamic and quick-learning team can adapt to different business practices, regulations, and cultures across different markets to add value to diverse clients.

As a leading actuarial firm in this region, in addition to providing services to clients, n-actuarial develop technology solutions. Combining artificial intelligence and robotic process automation, the firm’s technology is at the forefront of actuarial technology. Ultimately clients benefit from using the technology through time and cost savings. Licensing technologies to the firm’s clients has become an additional revenue source.

Winning the SME100 Awards is a testimony to the firm’s success and growth mindset. It also provides n-actuarial the impetus to continue to pursue growth and sustainability as a market leader in actuarial innovation and technology.

Nicholas Actuarial Solutions is a technology-focused actuarial firm. Established in Kuala Lumpur, Malaysia in 2015, it is now a leading actuarial firm in Asia with 6 offices in the region. Nicholas Actuarial Solutions is the first and only actuarial firm awarded MSC Malaysia status by the Malaysian government, a mark of world-class service and achievement. Nicholas Actuarial Solutions received the Quality Assurance Scheme (QAS) accreditation from the Institute and Faculty of Actuaries. The QAS mark is a clear signal of Nicholas Actuarial Solutions’ commitment to the highest standards, giving both confidence to employees and a guarantee of quality to clients. Nicholas Actuarial Solutions was awarded Top Actuarial Firm in Asia by Captive Review and shortlisted as a finalist for Risk Solution of the Year by Asia Pacific Risk Management Awards. Nicholas Actuarial Solutions was also awarded the SME100 Awards 2023 for Fast Moving Companies. An award as a testimony to the firm’s success and growth mindset.

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