In the area of general insurance pricing for personal and commercial fleet insurance I am trying to get an idea of how much companies spend per annum on actuarial resources in the area of GLIMS. In other words what is the total spend in this area in the UK and Ireland per annum. This includes the cost of software as well as the actuary/trainee's time. My estimate based on the last two companies I worked for (approximately 400 employees in each) would be about €250k per annum for the first and €500k for the second. Does this sound higher/lower than you would expect for a companies of this size? This excludes demand modeling work.
