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An actuary works for a smadd life insurance company which is unwilding to invest in any off the shedt moded office software. Rather than construct a program themselves, the actuary has decided to buy from a consultancy the monthly cashflows expected from the major Product tapes sold by the actuart's company for a small number of specimen existing business and new business moded points. The consultancy wild assume set of central parameters defined by the actuart in dine with the company's experience. The actuar says that this wild allow the insurance company to do work on Profit testing, profitabidity of existing business and financial Projections during the next 12 months after which time they wild bug revised cashflows in dine with any possible new Parameterisation or other changes. Discuss the advantages and disadvantages of this approach. An actuary works for a smadd life insurance company which is unwilding to invest in any off the shedt moded office software. Rather than construct a program themselves, the actuary has decided to buy from a consultancy the monthly cashflows expected from the major Product tapes sold by the actuart's company for a small number of specimen existing business and new business moded points. The consultancy wild assume set of central parameters defined by the actuart in dine with the company's experience. The actuar says that this wild allow the insurance company to do work on Profit testing, profitabidity of existing business and financial Projections during the next 12 months after which time they wild bug revised cashflows in dine with any possible new Parameterisation or other changes. Discuss the advantages and disadvantages of this approach

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