Case studies

Our work, in our clients' words and results

Selected Xivoni engagements and relevant experience of our professionals, with clients anonymised. Each example explains the challenge, the work and the reported outcome.

Public sectorSouth Africa

Finding the best use for an underused stadium

Challenge
A metropolitan municipality owned a stadium that carried high maintenance and operating costs without matching revenue.
What we did
Modelled 20 years of cash flows for four redevelopment options, from demolition to mixed-use development, and calculated a socio-economic NPV alongside NPV, IRR and payback period. Inputs came from architects, quantity surveyors and urban planners.
Outcome
Recommended a mixed-use development, with a hybrid option that keeps event and community space, giving the municipality a clear basis for its decision.
Transactions Advisory
LegalSouth Africa

Quantum calculations for complex RAF claims

Challenge
Road Accident Fund claims often involve complex family structures, such as several spouses or children from different partners, which makes each dependant's loss hard to quantify.
What we did
Built actuarial models designed for these family structures and for South Africa's socio-economic context, and gathered the documents needed to support every calculation instead of relying on assumptions.
Outcome
Evidence-based calculations that reflect each claimant's circumstances and that legal teams can rely on.
Quantum of Damages
Public sectorSouth Africa

Redevelopment options for a historic events venue

Challenge
A municipality faced high running costs, a growing maintenance backlog and little revenue at a landmark events venue.
What we did
Evaluated four options, from demolition to minimal intervention, using 20-year cash flow models, NPV, IRR and payback period, together with an assessment of jobs, visitor traffic and local business impact.
Outcome
Recommended a mixed-use development as the best balance of financial sustainability and community impact, with an events-led option as the alternative.
Transactions Advisory
LegalSouth Africa

Loss of earnings where the experts disagree

Challenge
In serious injury claims, the industrial psychologists for each side often propose different career paths, and some claimants are children with no earnings history at all.
What we did
Quantified the loss separately on each expert's career path, and on alternative legal treatments of items such as social grants, following the Actuarial Society's guidance and setting out every assumption.
Outcome
Reports that show the scenarios side by side, so the legal team can see what each assumption is worth before negotiation or trial.
Quantum of Damages
Public sectorSouth Africa

Build-or-lease decisions for a municipal broadband network

Challenge
A municipality needed a systematic way to prioritise its broadband rollout and control the cost of expanding the network.
What we did
Developed a site prioritisation framework using multi-criteria decision analysis, and compared the 15-year NPV of building against leasing to show where further building stopped paying off.
Outcome
Sites were prioritised by strategic value, unnecessary build costs were avoided, and the municipality earned new revenue by leasing spare capacity.
Transactions Advisory
LegalSouth Africa

Narrowing the dispute through actuarial joint minutes

Challenge
Where each side instructs its own actuary, the two reports can differ on dates, earnings assumptions and how future risks are treated.
What we did
Met the opposing actuary, reconciled the two calculations item by item against the latest expert joint minutes, and recorded agreed positions and open items in joint minutes.
Outcome
The actuaries agreed the main points of difference ahead of mediation, leaving a short list of items for the parties or the court to decide.
Quantum of Damages
Life insuranceSouth AfricaProfessional experience

Valuations supporting an insurance portfolio sale

Challenge
A life insurer needed valuation and expert input for a portfolio sale.
What we did
A member of our actuarial team performed disability and whole-of-life valuations, special reviews and expert opinions supporting the transaction.
Outcome
The reference confirms successful assistance with the valuations and sale-related reviews, and highlights clear communication, reliability and integrity.
Transactions Advisory
LegalSouth Africa

Future medical costs and past caregiving

Challenge
Claims involving severe injuries rest on many medical and therapy reports, which are updated as the matter progresses, and families often provide years of unpaid care.
What we did
Capitalised the future medical and care costs recommended by the experts, valued past caregiving by family members, and recalculated promptly when addendum reports or new instructions arrived.
Outcome
Up-to-date figures for each head of damage, with a clear trail from every expert recommendation to the amount claimed.
Quantum of Damages
MicroinsuranceSouth Africa

Actuarial audit of a newly licensed microinsurer

Challenge
An audit firm needed an actuarial expert to review the reserves and regulatory reporting of a funeral microinsurer that had been trading for only a few months, too short a history for the usual claims-development tests.
What we did
Acted as the auditor's actuarial expert under ISA 620. Reviewed the IFRS 17 and solvency reserves, reconciled premiums and claims to the financial statements and the regulatory return, and built the tests around reasonableness and consistency.
Outcome
Confirmed that no adjustment to the reserves was needed, and gave the auditor a prioritised list of presentation and disclosure matters to resolve before placing reliance on the figures.
Audit & Assurance
MicroinsuranceSouth Africa

Actuarial audit of an established funeral microinsurer

Challenge
The external auditor of a funeral microinsurer needed independent assurance over its reserves, data and regulatory return, and a view on whether the previous year's recommendations had been acted on.
What we did
Acted as the auditor's actuarial expert under ISA 620. Independently validated the claims reserves, reconciled premium and claims data to the management accounts, reviewed reinsurance and solvency, and tracked each prior-year recommendation.
Outcome
Concluded that the methods and reserves were appropriate. Data reconciliations that had been a concern the year before now tied closely, and the remaining open matters were set out with clear priorities.
Audit & Assurance
MediaSouthern Africa

Pricing models for a broadcaster's media platforms

Challenge
A broadcaster's advertising rates relied on historical data and no longer reflected digital consumption or current market conditions.
What we did
Built separate pricing models for each radio and television channel using statistical analysis, audience measures and competitor comparisons, and delivered them with an interface for decision-makers.
Outcome
Radio and television platforms saw higher sellout rates and better net revenue within the first year of implementation.
Data, Analytics & Technology
BankingZambia

From spreadsheet models to our IFRS 9 platform

Challenge
A financial institution needed to modernise its credit risk framework and recalibrate expected credit loss models.
What we did
Developed credit models and scorecards, recalibrated IFRS 9 impairment models, reviewed data quality and migrated legacy spreadsheet tools to Xivoni's in-house IFRS 9 platform. Delivery included documentation, knowledge transfer and model lifecycle support.
Outcome
The client reported improved accuracy, consistency and flexibility of credit assessments, reduced operational risk and continued model support.
Banking & Financial Risk
MicrofinanceSouthern Africa

IFRS 9 impairment for a microlender's loan book

Challenge
A microlender needed an expected credit loss provision for its financial statements. Earlier valuations had been hard to reproduce, because staging and write-off information differed between data sources.
What we did
Standardised several years of loan data, staged each loan by arrears, derived default probabilities from observed movements between stages and calculated the provision on our in-house IFRS 9 platform. We also re-ran the two previous valuations to show how staging, the definition of exposure and write-offs had moved the result.
Outcome
A provision that management and the external auditors can reproduce from the loan data, with the main drivers of the year-on-year movement identified and recommendations for the year-end review.
Banking & Financial Risk
TransportSouth Africa

Restructuring a transport operator's insurance programme

Challenge
A large public transport operator was paying high insurance premiums without a defined risk tolerance or clarity on which risks to retain, mitigate or transfer.
What we did
Cleaned and analysed historical claims by frequency and severity, fitted loss distributions and ran Monte Carlo simulations to test the insurance structure under different conditions.
Outcome
Recommended deductibles and operational mitigations. The operator achieved a substantial reduction in insurance premiums by restructuring its programme.
Actuarial & Insurance Risk Advisory
Life insuranceSouth Africa

Ongoing actuarial support for a life insurer

Challenge
A life insurer required actuarial services over multiple reporting periods.
What we did
Delivered actuarial services; the business profile describes valuation and reserving support for reporting and capital management.
Outcome
The client confirmed satisfactory delivery with competence and professionalism and recommended Xivoni for future work.
Actuarial & Insurance Risk
Public sectorSouth Africa

Employee benefit valuations for a municipality

Challenge
A municipality required a long-service award valuation for its annual financial statements.
What we did
Validated employee data, applied demographic and financial assumptions, and completed a Projected Unit Credit valuation with results, sensitivities and GRAP 25 compliance tables.
Outcome
The client confirmed delivery within agreed timelines. Reports supported compliance obligations and were well received by internal and external audit stakeholders.
Public Sector (GRAP 25)
InsuranceTanzania

IFRS 17 capability building for an insurer

Challenge
An insurer needed to understand the complex technical requirements and practical implications of IFRS 17.
What we did
Delivered tailored technical training to strengthen understanding of the standard and its application.
Outcome
The client reported significantly improved internal capacity and understanding of IFRS 17 concepts and their practical implications.
Training & Capacity Building
MicroinsuranceSouth Africa

Actuarial support for a growing microinsurer

Challenge
A microinsurer required actuarial services to support its business.
What we did
Provided ongoing actuarial services. The business profile identifies pricing, capital modelling and strategy for underserved markets within this work.
Outcome
The client confirmed that assigned work was completed satisfactorily with competence and professionalism and recommended Xivoni.
Inclusive Insurance
RetirementSouth Africa

Digital administration for retirement reform

Challenge
Retirement system changes required an administrative solution.
What we did
Developed a digital administration application to support the Two-Pot retirement system.
Outcome
Delivered an application designed to support the required administrative processes.
Data, Analytics & Technology
InsuranceSouth Africa

Reinsurance and risk analytics support

Challenge
An insurance business required actuarial and analytical support for risk and reinsurance decisions.
What we did
Provided actuarial services. The business profile describes reinsurance optimisation, data analytics and risk appetite modelling.
Outcome
The client confirmed satisfactory performance with competence and professionalism and recommended Xivoni for future work.
Actuarial & Insurance Risk
Public sectorSouth Africa

Employee benefit reporting for a public institution

Challenge
A public institution required actuarial support for employee benefit reporting.
What we did
Completed GRAP 25 work on long-service awards and leave provisions, and a lump-sum retirement benefit valuation.
Outcome
The reference confirms technically sound outputs, senior actuarial involvement, responsiveness and delivery within scope and agreed timelines.
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Public sectorSouth Africa

Feasibility analysis for public infrastructure

Challenge
A public-sector client needed quantitative evidence for infrastructure investment decisions.
What we did
Performed financial and economic feasibility analysis and quantitative investment planning for municipal infrastructure.
Outcome
Delivered analysis considering commercial viability, socio-economic implications and investment choices.
Transactions Advisory
HealthTanzania

Actuarial and system readiness for a health fund

Challenge
A health fund required an assessment of its product design, pricing and systems.
What we did
Carried out a rapid actuarial and ICT assessment of product design, pricing and system readiness.
Outcome
Delivered an assessment of actuarial and technology readiness to inform further planning.
Data, Analytics & Technology
Funeral insuranceEswatini

Product design and business planning for funeral cover

Challenge
Funeral insurance providers required support with product design and business planning.
What we did
Developed product redesigns, group schemes and an actuarial business plan to inform pricing and regulatory engagement.
Outcome
Delivered product and planning inputs intended to support sustainability and member value.
Inclusive Insurance
Public sectorSouth AfricaProfessional experience

Establishing a first employee benefit valuation

Challenge
A public-sector training institution required its first actuarial valuation of long-service awards.
What we did
A member of our actuarial team completed the GRAP 25 valuation and established an opening liability position for disclosure purposes.
Outcome
The results supported recognition of the obligation in the annual financial statements. The reference confirms satisfactory professional delivery.
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Non-life insuranceSouth Africa

Advanced pricing training for an insurer

Challenge
A general insurer sought to strengthen actuarial pricing capability and confidence in its models.
What we did
Delivered an advanced pricing training programme for the actuarial team.
Outcome
Provided a programme focused on actuarial model understanding and practical pricing capability.
Training & Capacity Building
InsuranceSouth AfricaProfessional experience

Risk selection and balance sheet capital

Challenge
An insurance group needed a consistent framework for risk selection and capital management.
What we did
A member of our team contributed to risk and capital frameworks, management information, risk transfer assessments and balance sheet decisions in previous consulting and in-house roles.
Outcome
Professional references describe frameworks that helped management assess risk within board limits and consider retention, transfer and risk-adjusted returns.
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