Financial modelling
Financial management solutions
Tailored analytical solutions
Medical indemnity insurer
Capital modelling
iBean designed and developed a financial modelling tool to project minimum capital requirements over a rolling five year period. Provided ongoing support and analysis of projected results.
Outcome
The model provides the ability for scenario modelling and stress testing during annual rate setting and valuation analysis. Projections are used by senior managers and the approved actuary for Board and APRA reporting on an ongoing basis.
Budget costing model
Conducted a detailed operating expense analysis and developed a customised budget tool.
Outcome
Provided a decentralised, security-enabled budget model to line managers.
Rating model
Converted a complex rate setting spreadsheet into a user-friendly, secure and accurate database to establish annual rates across 23,000 possible combinations. Added the functionality to match the rates with member numbers and calculate potential and likely premiums.
Outcome
iBean increased efficiency in the number crunching allowing management to focus on market impact of rates, rather than the mechanics of the calculations.
Private health insurer
Base line budget and asset/cost management model
Developed a detailed zero based and volume driven budgeting and cost/asset management tool for the IT division of this very complex organisation. This established the true cost of ownership and assisted in decision making during a period of great change.
Outcome
Implemented a robust and user-friendly budget and cost/asset management system for the successful management of a $45M budget. Features included:
- scenario modelling
- contract management
- lease management, asset management
- cost centre management
- five year forecast.
Information technology company
Sales forecast model
iBean created a sales forecasting model, projecting the financial position over three years using various activity drivers across four revenue streams.
Outcome
Provided management with a model to show the financial impact on the business against various scenarios.