Model Risk Management
Model Risk Management (MRM) is the disciplined process of identifying, assessing, and controlling risks that arise from the use of models in insurance operations.
Traditional pricing, reserving, capital, and underwriting models are now under heightened regulatory scrutiny, with expectations for transparency and governance increasing sharply. Extending MRM to AI‑ML and GenAI models introduces even greater complexity for insurers and regulators. Meeting these challenges head‑on is essential to maintaining credibility, satisfying regulatory demands, and ensuring models remain reliable tools for decision‑making.
Scope of Services
Model Inventory & Classification
Validation & Challenge
We provide comprehensive model risk management solutions tailored to the specific needs of insurance operations, ensuring transparency, compliance, and reliability across all model types.
Build a complete, traceable catalog of models, clearly defined by purpose, ownership, and risk tier to support governance, prioritization, and regulatory transparency.
Conduct actuarially grounded review of methodology, assumptions, and governance controls to confirm models are sound and aligned with professional standards.
Bias Testing
Perform rigorous fairness audits for predictive models, including AI‑ML and GenAI, to identify potential disparate impact and document mitigation strategies.
Compliance Assessment
Determine whether each model’s governance meets the appropriate level of oversight by integrating internal policies and external regulatory expectations.
Why Choose David Schraub Actuarial Services
David Schraub Actuarial Consultancy delivers senior‑level actuarial and regulatory expertise with the efficiency and focus of an independent practice. Clients gain direct access to deep technical judgment at a cost structure large firms cannot match. Through established partnerships with Solytics‑Partners and Arocha & Associates, the firm brings a scalable bench of specialized talent while maintaining single‑point accountability. The result is expert guidance, efficient execution, and the capacity to take on complex, high‑stakes work with confidence.