What experience does Fixage offer?
Fixage focuses on a single activity: actuarial services. Many companies perform actuarial work among other professions. For us, it is our only experience. Actuarial science is mathematics applied to risk and insurance issues. Our clients are the main French insurers. It is a very competitive job, where we systematically work through public tenders through formal tenders.
To respond to these tenders and meet the required criteria, we must adapt to the compliance obligations that large companies impose on their suppliers: RGPD, ESG (EcoVadis Gold label), etc.
How do regulatory and technical developments constitute adaptation problems for you?
The implementation of procedures related to regulatory changes entails very significant costs for us, such as the GDPR, but this also leads us to abandon a certain number of missions, because the cost of compliance would be higher than the billing. There are many obligations, as well as controls to verify that our procedures comply, and these procedures take up a lot of our time. The burden of compliance carries costs, but changes in regulations also create opportunities for us to implement new standards: solvency, IFRS 17, etc.
In particular, the calculations of provisions and solvency are completely modified. The actuarial profession is the profession of a translator: we translate the legal language of a contract or regulation into equations and then into lines of code. In our business, most errors come from language understanding, rather than computation.
How are you doing in this highly competitive market?
The fact that the market is competitive is not necessarily problematic, because it forces us to be at the level. Our business doubles every four years and we continue to grow during the lockdown.
Why is recruitment a key issue?
We activate a certain number of recruitment hubs and receive a lot of spontaneous CVs. We never stop recruiting. Our workforce continues to grow in parallel with our activity, but this year we have seen an increase in turnover, which has been offset.
This content was produced with SCRIBEO. The BFMBUSINESS editorial team was not involved in the production of this content.
Source: BFM TV
