RNA Analytics has scooped actuarial consultancy of the year in recognition of its efforts in supporting the insurance industry's ongoing digital transformation, particularly in high-growth markets throughout Asia Pacific.

The global actuarial and risk management firm is known for its strong presence in the region with offices in markets including South Korea, Japan, Hong Kong and Singapore.

InsuranceERM's judges praised RNA Analytics' commitment to developing bespoke tools for the Asian insurance market, making significant investments in its IFRS 17 and Insurance Capital Standard (ICS) reporting solutions, as well as packages aimed at K-ICS and J-ICS compliance for the Korean and Japanese sectors.

RNA Analytics said the firm's engagement across Asia Pacific is evident in its expansion into Southeast Asia, as well as its partnership with Yonsei University in South Korea, one of Asia's premier universities, for training experts in insurance and actuarial science.

Looking ahead, a spokesperson for RNA Analytics tells InsuranceERM the provider is expanding its efforts in 2025 to empower actuaries and risk teams by focusing on cloud-based technology, artificial intelligence and advanced data analytics.

The spokesperson says the company is also concentrating on bolstering its presence in Asia-Pacific markets, with a specific emphasis on China.

"RNA Analytics aims to address the region's unique challenges while driving innovation and operational agility," says the spokesperson.

The Asia Pacific award comes after RNA Analytics won IFRS 17 consultancy of the year in InsuranceERM's UK & Europe awards 2024.