Top Advisory

What Top Advisory does

TOP-Advisory B.V. is a Dutch actuarial consulting firm founded in 2020 and headquartered in Amsterdam. The company provides professional actuarial services to insurance companies, pension funds, and other organizations requiring quantitative expertise, positioning itself as the "gulden middenweg" (golden middle ground) between large actuarial bureaus and solo practitioners (ZZP'ers). Its service portfolio covers Solvency II calculations and reporting (including submissions to De Nederlandsche Bank), tariff pricing across life, property, income, and healthcare insurance branches, risk and balance sheet management, and implementation support for the new Dutch pension system (Wet toekomst pensioenen / WTP), as well as broader quantitative projects applying actuarial techniques to non-insurance sectors.

The firm is built on a Team of Professionals (TOP) delivery model, deploying ~16 consultants — comprising actuaries, econometricians, risk consultants, and data analysts — directly into client engagements. Co-founders Harm Mulder, Jeroen Koppenens, and Roderick Loeber each serve as risk consultants; the bench has been augmented with senior lateral hires from EY Actuarissen and junior cohorts from Dutch universities (UvA, VU Amsterdam, Groningen, Tilburg). Underlying technology consists of classical quantitative techniques (statistical modeling, financial econometrics, risk management methodologies), with no disclosed software products, APIs, or AI/ML capabilities.

TOP-Advisory operates a project-based, professional services revenue model through direct consulting engagements sold primarily via referrals and professional networks. The company is privately held, bootstrapped (no external funding rounds disclosed), and structured as a B.V. under Dutch law. Geographic footprint is concentrated in the Netherlands, with one documented international assignment supporting health insurance system implementation in Kenya in 2024.

Name

Top Advisory

Legal name

TOP-Advisory B.V.

Website

https://www.top-advisory.nl

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

11–50 employees

Short description

TOP-Advisory is an Amsterdam-based actuarial consulting firm founded in 2020, providing Solvency II, pension (WTP), risk management, and quantitative advisory services to Dutch insurance companies, pension funds, and other organizations via a team-based secondment model.

Ownership category

akta.pro rank

Product category

Actuarial Consulting Services

NAICS

Management Consulting Services (54161)

SIC

Services-Management Consulting Services (8742)

akta.pro primary industry

Annuity & Insurance-Based Retirement Solutions Advisory (FSAEABAH)

akta.pro secondary industry

Financial Reporting & Technical Accounting Advisory (GAAP/IFRS) (BPAHABAF)

Keywords

• Actuarial consulting
• Insurance advisory
• Pension advisory
• Risk management
• Solvency II consulting

Headquarters

HQ city

Amsterdam

HQ country

Netherlands

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Actuarial Consulting Services: TOP-Advisory provides actuarial consulting services by deploying their team of professionals at client organizations. Consultants work on projects including Solvency II calculations and reporting, pension implementation, risk management, and actuarial analyses. Revenue is generated through professional service engagements with insurance companies, pension funds, and other organizations requiring quantitative support.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Top Advisory provides professional actuarial consulting services to insurance companies, pension funds, and comparable organizations in the Netherlands. The firm delivers actuarial calculations, Solvency II reporting (including DNB submissions), pension reform implementation support (Wet toekomst pensioenen), risk and balance sheet management, and broader quantitative consulting across life, property, income, and healthcare insurance lines.

Product overview

TOP-Advisory is an actuarial consulting firm offering a unified portfolio of professional services rather than a modular software product. Their core offering consists of actuarial advisory services for the insurance and pension markets, including specialized services in life, property, income, and healthcare insurance. They provide Solvency II calculations and reporting, pension system implementation support (including the new Dutch pension system under WTP), and quantitative consulting services that extend actuarial techniques to broader business questions. The company operates as a Team of Professionals, delivering high-quality advisory through a collaborative, partner-like approach to clients ranging from large insurers to smaller organizations.

Differentiator

Problem solved

Functional benefit

Products and services

• Insurance & Solvency II Actuarial Advisory Actuarial consulting for insurance companies covering all branches (life, property/schade, income, and healthcare), including tariff calculations, full Solvency II calculations and reporting with submissions to De Nederlandsche Bank (DNB), and risk and balance sheet management.
• Pension Actuarial Advisory Actuarial advisory services for pension funds, including implementation of the Wet toekomst pensioenen (WTP) / new pension system, actuarial and quantitative analyses for pension transitions, and ongoing pension consulting support.
• Quantitative Projects & Cross-Sector Actuarial Analysis Application of actuarial techniques and quantitative modelling to broader business questions beyond traditional insurance and pensions, including business case development, actuarial foundations for non-traditional sectors, and bespoke quantitative engagements (e.g., health insurance system implementation).
• Risk Consulting Engagements Deployment of Top Advisory's risk consultants — comprising actuaries, econometricians, risk consultants, and data analysts — at client organizations to deliver project-based actuarial, risk management, and statistical analysis work.

Named customers1 record

Segments3 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators1 record

Recent moves6 records

Expansion highlights5 records

Direct peers

• Milliman: Global actuarial consulting firm with deep insurance and pension expertise across life, health, and P&C. Directly comparable to TOP-Advisory's core actuarial advisory offering, but at significantly larger scale and international footprint.
• EY (EY-Parthenon Actuarial): Big-4 firm with a dedicated actuarial practice in the Netherlands serving insurance and pension clients. TOP-Advisory is actively hiring from EY Actuarissen, underscoring the direct competition for both talent and clients.
• KPMG Actuarissen: Big-4 actuarial practice in the Netherlands providing Solvency II, pension and risk advisory to insurers and pension funds. Direct overlap with TOP-Advisory's core service lines.
• PwC Actuarissen: Big-4 actuarial and insurance consulting practice active in the Dutch market. Competes with TOP-Advisory on Solvency II, pension reform and risk management mandates.
• Ortec Finance: Dutch-headquartered quantitative and actuarial consulting firm serving pension funds and insurers with modelling, ALM and risk analytics. Direct competitor in the Dutch market with a more technology-led offering.
• Triple A - Risk Finance: Dutch actuarial and risk consultancy serving insurance and pension clients. Closely comparable in size, geography and service mix to TOP-Advisory, including Solvency II and pension advisory work.

Broad incumbents

• Willis Towers Watson (WTW): Global advisory firm with a major actuarial and insurance consulting practice serving insurers and pension funds. Overlaps directly with TOP-Advisory's services but offers broader risk, broking and technology capabilities.
• Oliver Wyman: Management consulting arm of Marsh McLennan with a substantial actuarial practice serving European insurers and pension funds. Comparable actuarial advisory work, with broader strategic consulting wraparound.
• Mercer: Global consulting firm (part of Marsh McLennan) with significant actuarial and investment advisory services for pension funds and insurers. Overlaps with TOP-Advisory's pension advisory and risk work, but at much larger scale.
• Aon: Global professional services firm with an actuarial and risk consulting practice serving insurance carriers and pension funds. Comparable in core actuarial advisory but operating at vastly larger scale with broader risk transfer capabilities.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat2 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/top-advisory

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Top Advisory