l i a b i l i t i e s
WHAT IS INvSIGHT LIABILITIES?
Liabilities is the application of INvSIGHT designed to model Life insurance products forecasting cash flows and valuing them from different perspectives (reserves, Solvency II, IFRS17, etc).
AT WHOM IS IT DIRECTED?
It is intended to aid the actuary providing an accurate model of liabilities for cash flow forecasting and fast valuation under different scenarios from several perspectives.
MAIN FEATURES
Depending on the insurance line of business the following features are remarkable:
Life
- Cash flow estimation and valuation under Solvency I (Technical Provisions) and Solvency II (Best Estimate Liability BEL considering shocks) and IFRS 17 for Savings, Risk and Mixed Life products such as Life Annuities, Deferred Capital, RETA, TAR, with PB, etc.
- Additionally, and for the parameterized hypotheses in the modeling of each product, the evaluation of different scenarios is allowed, such as, for example, selection of tables, variation of fall, expenses, inflation, yield curves, premium and claims growth, deferral periods, etc.
- It gives the possibility of calculating the result as a whole or contract by contract.
- The products modeling can be modified by a user with a basic knowledge of programming.
Other features
Functional features:
- Ease of loading the insurance contracts through excel templates or straight forward by integration through ETL with the company systems.
- A test of onerosity is included as well as the contracts groupings according to IFRS 17.
- The products depending on underliyings are processed separating the cash flows as far as the IFRS 17 is concerned.
Technnical features:
- Web application deployed in the cloud (Software as a Service, SaaS) which can be accessed by a common browser.
- Multi-user access according to profiles.
- Configurable language.
- It can be extended by adding customized reports.
WHAT ADVANTAGES DOES IT OFFER?
- Simplicity of use and operational agility.
- Scalability in volume of policies.
- Modeling of accessible, assisted and open products.
- Simulation capability for different scenarios and hypotheses.
- Accurate calculations and cash flows.
- Fast computation.
- Direct integration with INvSIGHT Solvency and IFRS 17.