In July 2022, Ernst & Young announced the enhancement of its EY Insurance Industry Cloud for SAP solutions. This enhancement is aimed at assisting insurance organizations in accelerating their digital transformation initiatives. By leveraging SAP solutions and EY's industry-specific capabilities, the EY Insurance Industry Cloud provides a tailored cloud-based platform for insurers to streamline their operations, improve customer experiences, and drive innovation. The enhanced solution will offer advanced functionalities such as data analytics, automation, and artificial intelligence to help insurers optimize their processes and make data-driven decisions. This announcement reflects EY's commitment to supporting insurance companies in their digital journey and enabling them to stay competitive in the evolving market.

According to the report, Rise of Advanced Analytics and Big Data in Actuarial Services is one of the primary growth factors for the market. Increasing Demand from Insurance Sector is also expected to contribute significantly to the Actuarial Service market. Overall, General Insurance applications of Actuarial Service, and the growing awareness of them, is what makes this segment of the industry important to its overall growth. The Services, such as Due diligence services, is boosting the Actuarial Service market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.

New technologies and major shifts in the industry will be game-changing factors that all players have to react now in order to maintain strong positions in the future. As many industry experts agree that significant changes are ahead. AMA’s Analyst on the Global Actuarial Service market identified that the demand is rising in many different parts of the world as "Growing Actuarial Services in Pharmaceutical and Medical Sector". Furthermore, some recent industry insights like "In November 2022, Oliver Wyman, a global management consulting firm and a subsidiary of Marsh McLennan acquired Avascent. Avascent is a management consulting firm specializing in Aerospace and Defense (A&D), focusing on serving corporate and private equity clients. This acquisition further strengthens Oliver Wyman's capabilities in the A&D sector, allowing them to provide enhanced consulting services to clients in this industry. The merger brings together the expertise and resources of both firms, positioning them to deliver comprehensive solutions and strategic insights to their clients in the A&D sector." which is constantly making the industry very dynamic.

The report provides an in-depth analysis and forecast about the industry covering the following key features:
o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies
o Analyses the Global Actuarial Service market according to Type, Application, and regions
o Analyzes the top 10 players in terms of market reach, business strategy, and business focus
o Provides stakeholders’ insights and key drivers & trends of the market

**The market is valued based on weighted average selling price (WASP) and includes any applicable taxes on manufacturers. All currency conversions used in the creation of this report have been calculated using constant annual average 2022 currency rates.

Market Size Estimation
In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Actuarial Service market and other related sub-markets covered in the study.

o Key & emerging players in the market have been observed through secondary research.
o The industry’s supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes.
o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation
The overall Actuarial Service market size is calculated using market estimation process, the Actuarial Service market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global Actuarial Service market size has been validated using both top-down and bottom-up approaches.