Actuarial consulting for kibbutzim and moshavim

Kibbutzim and moshavim are characterized by the fact that it is a population that lives according to the principle of mutual guarantee, therefore as a result of this, there are a number
Layers that the kibbutzim and moshavim want to maintain in order to take care of the kibbutz population - especially those that have not yet been privatized.

Types of consulting for kibbutzim

There is a wide variety of insurance types, with the most common among them are:

Implementation of financial standard 'Horaa 4':

This is an actuarial valuation that is carried out for the purpose of determining the reserve that the kibbutz must hold in order to guarantee the kibbutz members its pension, under kibbutz regulations.

Long Term Care coverage (LTC):

A significant part of the kibbutzim took care of this coverage either within the framework of group insurance policies or within the full budget of the kibbutz.
At the same time as the marketing of personal LTC policies stopped, according to the directive of the Israeli insurance supervisor in 2018, the insurers did not renew the group policies.
As a result, a gap was created in which senior kibbutz members were left without full coverage, and thus kibbutzim took upon itself a guarantee for the LTC coverage to it's members in accordance with the policy terms of a kibbutz.
We bring the knowledge and expertise to provide full actuarial support to kibbutzim, that includes:

• to determine the required reserve for LTC coverage.

• managing a current reserve, in accordance with the change in the demographic mix.

• full actuarial analysis of gains and losses, by reason and their financial impact.

• changes in the amount of compensation.

• updating the mortality tables, etc.

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Group insurance:

Actuarial advice on collective insurance issues is given in accordance with the unique needs of the kibbutz/moshav, when full advice can be given starting from the initial stage of mapping the insurance needs and setting up the policy, including ongoing support, or providing a professional assistance to any issue that arises at any given stage.

• Set up a new insurance policy (including negotiation with an insurer and confirmation of the policy terms).

• Management of a tender in which several insurers participate or, alternatively, management of negotiations with a specific insurer.

• Profitability analysis.

• Assistance during the negotiation process with the insurer.

• Brainstorming about ways to adapt the insurance structure to the needs of the insured group in terms of structure and cost.