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A comprehensive actuarial modeling system offering financial projection capabilities, pricing, reserving, and risk management for life, health, and pension industries. Supports regulatory compliance with Solvency II, IFRS 17, and principles-based approaches.
Specialized applications for developing and running complex statistical models that predict future claims costs, mortality rates, and other risk factors essential for insurance pricing and reserving.
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Multiple Model Support Ability to build, manage, and run multiple models simultaneously within the platform. |
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Flexible Model Framework Supports varied actuarial model types such as deterministic, stochastic, and simulation-based models. |
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Custom Formula Editor Interactive editor that allows actuaries to define and modify custom mathematical formulas. |
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Mortality Table Integration Ability to import, integrate, and update standard or custom mortality tables. |
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Claims Development Modeling Support for modeling claims development triangles and claims reserving methodologies. |
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Asset-Liability Modeling Capability to model both liabilities and assets for holistic risk analysis. |
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Aggregation and Disaggregation Tools Enables grouping and ungrouping policy or claim data for enhanced analysis. |
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Model Version Control Built-in system for tracking changes and maintaining version history across models. |
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Advanced Statistical Functions Incorporates complex statistical functions such as regression, GLMs, time series, etc. |
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Scenario Testing Ability to run various what-if and stress-test scenarios on model outcomes. |
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Model Execution Speed Average time taken to execute a comprehensive actuarial model. |
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Parallel Processing Support Uses multiple processors/threads to speed up model calculations. |
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Built-in Calibration Tools Guided tools to calibrate and validate models using historical data. |
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Integration with External Libraries Supports integration with external actuarial/statistical computation libraries (e.g., R, Python). |
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Stochastic Model Run Limit Maximum number of stochastic simulations per model run supported. |
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Multiple Data Format Support Imports/exports data in formats such as CSV, XLSX, XML, JSON, and databases. |
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ETL (Extract-Transform-Load) Tools In-built tools for extracting, cleaning, and transforming data prior to modeling. |
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Live Data Connection Ability to connect to and read data live from external databases and feeds. |
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Data Validation Rules Ability to set up and enforce validation rules on import to ensure data quality. |
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Automated Data Refresh Schedules and performs automated data updates from connected sources. |
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Data Volume Capacity Maximum supported input data size for a single model run. |
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Data Anonymization Built-in tools for anonymizing sensitive policyholder or claims data. |
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Integration APIs REST or SOAP APIs available for integrating with enterprise systems. |
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Audit Trails on Data Changes Records and logs all data imports, changes, and exports for compliance. |
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Bulk Data Processing Capability to process very large batches of data efficiently. |
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Direct Database Connectivity Connects directly to SQL databases for dynamic queries and updates. |
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Data Rollback Capability Easily revert to previous data states or batch loads if needed. |
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Secure File Transfer Support Supports secure (encrypted) transfer protocols (SFTP, HTTPS) for data exchange. |
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Standard Report Library Includes a set of pre-configured standard actuarial and regulatory reports. |
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Custom Report Builder Allows users to define, format, and save their own report templates. |
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Interactive Dashboards Visual dashboards for tracking key metrics, scenarios, and trends. |
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Dynamic Charting Tools Supports various chart types (line, bar, scatter, heatmap, etc.) for numerical outputs. |
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Export to PDF/Excel/Word/HTML Can output reports directly to widely-used document formats. |
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Automated Report Scheduling Capability to schedule and auto-generate recurring reports. |
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Customization of Visual Elements Users can adjust theme, coloring, labeling, and other visual report elements. |
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Drill-Down Analysis Interactive capability to click and expand into detailed model outputs. |
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Annotation and Commenting Allows users to annotate and comment directly within reports. |
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Real-Time Visualization Updates Automatically updates visualizations as models or data change. |
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Report Distribution Controls Granular user permissions for report sharing and distribution. |
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Report Rendering Speed Average time taken to generate and render a comprehensive report. |
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Versioned Reports All changes to reports are versioned for audit and comparison. |
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Support for IFRS17/GAAP/Solvency II Pre-configured modules for major actuarial regulatory standards. |
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Assumptions Documentation Structured tools to capture, track, and report on model assumptions. |
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Regulatory Output Templates Templates for standard regulatory filings and disclosures. |
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Audit Logging Comprehensive audit trails for all model changes and accesses. |
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Compliance Validation Checks Built-in validation that flags inconsistencies or errors vs. regulation. |
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Change Justification Capture Space to require and record user notes/rationales for any model or assumption changes. |
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Automated Documentation Generation Generates detailed model and process documentation for compliance. |
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Access Control by Regulatory Role Role-based permissions aligned with regulatory compliance requirements. |
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Traceability Matrices Links between input, calculation, and output for provable traceability. |
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Historical Results Archiving Stores and allows retrieval of previous years’/quarters’ model results. |
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Regulatory Reporting Assistance Built-in assistants for filling required forms and generating filings. |
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Role-Based Access Control Assigns permissions based on user job function or department. |
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Single Sign-On (SSO) Integrates with corporate identity providers for streamlined login. |
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Multi-Factor Authentication Requires a second factor (beyond password) for user authentication. |
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Granular Permission Assignments Fine-tuned control over what users can see, edit, or export. |
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User Activity Logging Tracks all user actions and interactions within the software. |
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Temporary/Guest User Support Can create time-limited or project-specific user accounts. |
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Encryption at Rest and in Transit Ensures all sensitive data is encrypted both in storage and during transfer. |
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Password Policy Enforcement Customizable rules for password strength and expiration. |
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Automated Account Lockout Automatically locks accounts after configurable failed login attempts. |
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Active Directory/LDAP Integration Connects directly with organizational user directories. |
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Multi-User Collaboration Enables multiple users to work on the same models or data sets simultaneously. |
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Comment Threads and Discussions In-tool messaging/forums for discussing model changes or data issues. |
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Workflow Automation Automated, customizable workflows for model review, approval, and publishing. |
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Task Assignment and Tracking Assign, track, and monitor tasks associated with model development. |
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Approval Queues Hold models and data changes in queue until formally authorized. |
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Integration with Communication Platforms Connects with tools like Slack, Teams, or email alerts. |
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Change Notification System Alerts users to changes, approvals, or required actions. |
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Model Locking and Check-Out Locks models from changes while under review or use by another user. |
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Activity Feed Centralized feed showing recent user actions and system events. |
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Workflow Customization Capabilities Flexible setup for organization-specific workflows and approval paths. |
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Horizontal Scaling Supports scaling across multiple servers or cloud nodes. |
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Concurrent User Capacity Number of users who can actively use the product without performance loss. |
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Maximum Model Size Supported Largest supported actuarial model in terms of input variables or complexity. |
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Model Calculation Speed Time taken to process a large, complex actuarial model. |
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Cloud Deployment Option Available for deployment on public or private cloud infrastructure. |
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On-Premise Deployment Option Available to be installed and operated within a local data center. |
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Elastic Resource Allocation Automatically adjusts compute and memory resources to workload. |
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Batch Processing Speed How many models/data batches can be processed per hour. |
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System Uptime Guarantee Percentage of time the product is operational and available. |
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Support for Distributed Calculations Can run model calculations on distributed systems or clusters. |
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Custom Plugin/API Support Supports development and deployment of custom plugins or functions via an API. |
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Scriptable Workflows Enables users to write scripts (e.g., in Python) to automate or extend core processes. |
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Formula Language Support Custom formula or expression language available for complex model design. |
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Theming/Branding Customization Can be visually tailored to company brand or look-and-feel. |
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Custom Notification Rules Allows users to set up their own notification triggers and messages. |
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Custom Data Field Support Ability to add new data fields or attributes to models and records. |
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Integration with External Analytics Tools Out-of-the-box connectors for tools such as Tableau, PowerBI, R, Python. |
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Model Template Library Users can save and reuse or modify organization-specific model templates. |
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Open Data Schema Underlying data model/schema is open and accessible for modification. |
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Vendor Support Availability Hours and channels (phone, email, chat) support is available from vendor. |
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Online Documentation Comprehensive online documentation, user guides, and examples. |
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Training Materials and Webinars Access to onboarding and advanced training opportunities. |
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Release and Patch Management Structured approach for providing updates, patches, and release notes. |
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Community Forum/Support Access to peer-to-peer forums and user communities. |
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Dedicated Account Management Assigned vendor experts for larger engagements or SLAs. |
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Ticket Resolution Response Time Average time to vendor resolution of support tickets. |
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Bug Tracking System Transparency on reported bugs and their resolution progress. |
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Transparent Pricing Structure Clear documentation of licensing, hosting, and user fee structure. |
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Perpetual License Option One-time payment license with optional support contract. |
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Subscription License Option Monthly or annual subscription models. |
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Concurrent User Pricing Pricing available based on number of actual simultaneous users. |
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Pay-As-You-Go Pricing Pricing based on actual usage (compute time, data processed, etc.). |
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Volume Discounts Discounted pricing tiers available for larger teams or long-term commitments. |
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Free Trial/POC Support Supports evaluation or proof-of-concept period before purchase. |
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Maintenance Fees Whether recurring annual maintenance/support fees are required. |
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Modern User Interface Intuitive, up-to-date interface design for productivity. |
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Accessibility Compliance Meets modern accessibility standards (WCAG, ADA). |
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Customizable Workspaces Users can arrange dashboards, menus, and sidebars to preference. |
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Context-Sensitive Help In-app help and documentation appears based on user actions. |
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Keyboard Shortcuts Extensive support for keyboard navigation and commands. |
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Mobile Access/Web Interface Optimized for use on tablets or through a web browser. |
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Undo/Redo Functionality Easily revert or repeat user actions. |
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Step-by-Step Wizards Guided wizards for new users or complex tasks. |
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User Persona Profiles Interface customization based on user role (e.g., modeler, reviewer, executive). |
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Localization/Language Support Available in multiple languages for global actuarial teams. |
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Applications that analyze historical policyholder data to compare actual outcomes with expected results, helping actuaries refine pricing models and assumptions.
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Multiple Data Source Support Ability to connect and import data from various formats and sources, such as databases, spreadsheets, CSV, or external APIs. |
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Automated Data Refresh Ability to schedule and automate regular data imports or syncs. |
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Real-time Data Integration Supports real-time or near-real-time data updates from operational systems. |
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Data Validation Rules Checks imported data for completeness, accuracy, and consistency against configurable rules. |
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Data Transformation Tools Provides utilities to cleanse, reformat, and transform data into required structures. |
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Batch Processing Capacity Number of records the system can process in an import batch. |
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Error Reporting for Imports Generates detailed logs and reports on data import errors or warnings. |
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Historical Data Archiving Ability to store, access, and restore historical experience datasets. |
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User-defined Data Mappings Allows users to create custom mappings from source data fields to application fields. |
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Data Encryption During Import Ensures sensitive data is encrypted during transfer and import processes. |
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Expected vs. Actual Calculation Automates the calculation and comparison of expected and actual experience for policies or claims. |
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Mortality/Morbidity Analysis Supports analysis of mortality, morbidity, or other relevant risk metrics. |
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Experience Analysis by Segment Enables breakdown of experience by policyholder segment, product, geography, etc. |
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Trend Analysis Tools Provides graphical/analytical tools for identifying trends over time within the data. |
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Credibility Adjustments Supports actuarial credibility theory techniques to adjust actual experience or develop blending. |
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Statistical Test Suite Includes statistical tools for significance testing, e.g., Chi-square, t-tests. |
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Custom Assumption Modeling Permits users to define and apply their own actuarial assumptions within the analysis. |
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Projection Capabilities Ability to project experience into the future based on historic data and assumptions. |
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Model Sensitivity Analysis Evaluates the impact of varying assumptions on outcomes using sensitivity or scenario analysis. |
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Run Time for Analysis Time it takes to process an experience study with standard data volume. |
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Standard Reporting Templates Provides built-in templates for common experience study reports. |
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Custom Report Builder Allows users to create reports with custom metrics, layouts, and filters. |
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Interactive Dashboards Supports creation of interactive charts, visualizations, and data exploration tools. |
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Export to Multiple Formats Enables exporting of reports to Word, Excel, PDF, or image formats. |
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Drill-down Capabilities Allows users to click through high-level metrics into more detailed breakdowns. |
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Ad-hoc Query Tool Provides easy-to-use interface for generating ad-hoc queries and analyses. |
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Visualization Library Size Number of different types of charts/plots/visualizations available. |
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Report Scheduling Ability to schedule generation and distribution of regular reports. |
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Annotations and Collaboration Allows users to add comments and collaborate within reports and dashboards. |
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Mobile Access to Reports Reports and dashboards optimized for mobile devices. |
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Assumption Library Central repository for storing standard and custom actuarial assumptions. |
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Version Control Tracks historical changes and previous versions of assumptions. |
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User-defined Assumptions Permits creation of new or custom assumptions for use in modeling. |
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Approval Workflow Enables review and approval steps before assumptions are used in production. |
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Link Assumptions to Studies Can associate specific assumption sets to particular experience studies or projects. |
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Change Impact Analysis Evaluates effect of changed assumptions on past study results. |
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Assumption Documentation Supports detailed documentation of assumptions and rationales. |
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Audit Trail for Assumptions Maintains a log of changes, who made them, and when. |
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Assumption Import/Export Allows import/export of assumption sets for collaboration and sharing. |
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Number of Supported Assumption Types Total unique assumption types that can be defined (e.g., mortality, lapse, expenses). |
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Role-based Access Control Enforces permissions based on user roles for data and feature access. |
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Audit Logging Records all user activities and data accesses for compliance. |
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Data Encryption at Rest Stores sensitive policyholder data using encryption. |
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Data Encryption in Transit Encrypts all data communications between client and server. |
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Multi-factor Authentication Requires two or more authentication steps to access the system. |
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Compliance Frameworks Supported Lists standards like GDPR, SOC2, HIPAA, etc., supported by the system. |
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User Activity Monitoring Allows real-time or near real-time monitoring of user activities. |
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Data Retention Policy Configuration Supports customizable data retention and deletion policies. |
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Automatic Data Redaction Automatically hides or redacts PII in reports and exports. |
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Regular Vulnerability Scans System automatically scans and reports vulnerabilities on a regular basis. |
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Customizable Dashboard Layouts Users can tailor their interface to highlight relevant metrics and reports. |
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Navigation Ease Score Measures the average number of steps required to access frequently used features. |
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Search Functionality Provides in-app search across data, reports, and documentation. |
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Help & Tutorials Built-in help, guides, wizards, and video tutorials. |
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Keyboard Navigation Fully usable by keyboard for improved accessibility. |
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Screen Reader Support Optimized for screen readers to aid visually impaired users. |
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Customizable User Preferences Users can set their own preferences, such as themes, languages, and date formats. |
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Multi-language Support Ability to use the software in more than one language. |
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Session Timeout Configuration Configurable periods before an inactive user is logged out. |
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Mobile/Tablet Friendly UI Optimized layouts and controls for mobile and tablet usage. |
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Real-time Collaboration Multiple users can work on or view the same study or report simultaneously. |
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Task Assignment Assign and track workflow tasks related to experience studies. |
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Commenting and Annotation Allows users to leave comments and annotate directly on reports or input data. |
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Notifications and Alerts System sends email or in-app alerts for key actions, completions, or comments. |
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Versioned Team Workspaces Team folders or workspaces with version control for group studies. |
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Workflow Automation Rules Configurable triggers and workflows for approvals, reviews, and follow-ups. |
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User Role Assignment Granular assignment of access and responsibilities by project or study. |
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Discussion Threads Persistent and organized threaded discussions attached to studies or projects. |
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Activity Feed Displays a real-time log of recent activities by users and teams. |
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Maximum Concurrent Users Supported The number of users who can work collaboratively at once. |
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RESTful API Support Provides industry-standard REST APIs for integration. |
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Pre-built Integration Connectors Out-of-the-box connectors for common industry systems (e.g., policy admin, claims, GL). |
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Webhooks for Event Triggers Allows external systems to receive real-time notifications of key events. |
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Custom API Endpoints Permits defining custom data endpoints for unique integration needs. |
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Data Import/Export API Enables programmatic import/export of datasets. |
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Single Sign-On (SSO) Integration Supports authentication with enterprise identity providers (e.g., SAML, OAuth). |
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API Rate Limit Number of API calls allowed per second for integration needs. |
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API Documentation Quality Completeness and clarity of documentation and developer resources. |
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Data Push to Data Lake Supports automated push of data into internal data lakes or warehouses. |
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Integration with Visualization Tools Direct integration with tools like Tableau or Power BI. |
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End-to-end Audit Trail Tracks and records all changes made to studies, models, and datasets. |
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Model Governance Frameworks Supports established model governance processes and documentation. |
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User Access History Report on who accessed specific data, when, and what changes were made. |
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Locked and Certified Study Versions Allows ‘locking’ final study versions and marking them as certified. |
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Automated Data Lineage Shows data flow and sources within the system for governance and troubleshooting. |
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Regulatory Reporting Exports Generates outputs in formats required by insurance regulators. |
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Role-based Sign-off Workflows Supports sign-off steps by different roles for studies and assumption changes. |
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Audit Trail Retention Duration How long audit logs are retained and available for review. |
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Model Validation Templates Pre-built templates for model validation and documentation. |
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Study Approval History Saves complete history of each approval step for studies and assumptions. |
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Maximum Dataset Size Supported Largest dataset size that can be imported or analyzed without performance degradation. |
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Concurrent Job Execution Number of studies or analyses that can be processed in parallel. |
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Average Analysis Run Time Median time needed to run standard experience studies at average data volume. |
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High Availability Uptime Service reliability, usually measured as percentage uptime per year. |
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Latency for Report Generation Average time to generate or refresh standard reports. |
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Elastic Resource Scaling System automatically scales resources up/down based on load. |
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Disaster Recovery Support Automated failover and data backup for system outages or failures. |
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Geographic Data Center Options Choice of hosting in multiple geographic regions for performance or compliance. |
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Batch Processing Throughput Records processed per hour in batch jobs. |
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Concurrent User Limit Maximum number of simultaneous users before performance degrades. |
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24/7 Technical Support Round-the-clock support availability via chat, phone, or email. |
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Dedicated Account Manager Named contact for account and issue management. |
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User Documentation Completeness Comprehensiveness of provided user guides and reference manuals. |
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Video Tutorials Library Size Number of instructional videos available to users. |
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In-app Guidance and Tooltips Contextual help and tooltips within the interface. |
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Training Programs Offered Number of distinct user training workshops or webinars offered annually. |
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Knowledge Base Articles Number of indexed self-help articles or FAQs. |
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Service Level Agreement (SLA) Clear documentation of support response and resolution time commitments. |
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Product Update Frequency Average frequency of releases and improvements per year. |
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Customer Community Forum Online community or forum for customers to share knowledge and solutions. |
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