Overview of Actuarial Modeling Challenges in the Insurance Industry
Insurance is a dynamic industry that requires constant evaluation of evolving risks and compliance with new regulations and financial reporting standards. Mandates like IFRS 17, LDTI, and climate disclosures have led to a significant increase in the complexity and volume of modeling requirements, necessitating enhanced efficiency and reliability in actuarial modeling to meet deadlines and governance standards.
How Moody’s Analytics Supports Insurers
Moody’s Analytics provides insurers with a comprehensive suite of actuarial modeling solutions to confidently address their business challenges. Leveraging our expertise in risk management, economic content, stochastic modeling tools, and actuarial insights, we offer assistance and expert advice to help insurers free up time for critical analysis and assessment.
Key Features of Moody’s AXIS™ Actuarial System
Moody’s AXIS™ Actuarial System is an integrated, low-code solution that facilitates model creation for various purposes, leveraging large-scale cloud computing power. It offers intelligent data scanning, low-code model development, reusability for multiple applications, and enterprise controls for automation, governance, and documentation. The system enables insurers to streamline actuarial processes efficiently.
Supporting Critical Management Functions
Moody’s actuarial modeling solutions cater to key management functions such as actuarial insights for reporting and decision-making, investment modeling for asset optimization, finance support for regulatory and financial reporting, and risk assessment for regulatory compliance and stress testing. Our solutions empower insurers to navigate complex risk landscapes with confidence.
Detailed Solutions Offered by Moody’s AXIS™ System
The AXIS™ system supports various aspects of insurance operations, including pricing and product development, liability valuation, asset allocation and investment analysis, risk and capital assessment, earnings and performance analysis, business planning, stress testing, and ORSA preparation. It enables insurers to enhance product design, risk evaluation, financial planning, and regulatory compliance.
Advantages of Moody’s Actuarial Modeling Solutions
With over 30 years of experience in life insurance markets and a proven service model, Moody’s Analytics stands as a trusted provider of actuarial modeling solutions worldwide. Our solutions help insurers optimize pricing strategies, manage liabilities effectively, align investment portfolios with business objectives, assess and mitigate risks, analyze performance metrics, and plan for future contingencies.
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