Actuaries and other insurance professionals use spreadsheets and other desktop-based calculators for a wide array of business applications. 

But these end-user computing offerings have limitations. 

• Their performance is often limited by the desktop machine, particularly for large/stochastic calculations
• Audit control and governance is difficult
• Version control quickly becomes an issue as users make their own copies
• Sharing the solution within the business is difficult
• Working around limitations results in complexity and bloat that leads in creeping risk

Our solution:

• Embeds your IP - It takes existing spreadsheets, or other calculators, including any VBA macros and embeds them within apps to provide a workflow driven governed environment which allows full, multi-user access.

Is powerful

Stochastic and looped calculations for even the largest and most complex portfolios or sets of data points can run efficiently in our scalable infrastructure.

Is auditable 

Provides enhanced controls and full visibility. Everything can be audited. 

Enables version control

The evo-insight platform is backed by a data repository to manage version control. That means only authorised users can update calculations and end-users cannot create multiple versions of the same spreadsheet or calculator. Instead, all users simultaneously access the approved version with results stored in the data repository.

Is flexible 

By linking multiple related spreadsheets/calculators, you can manage processes and implement workflow to automate and add controls.  You can also distribute calculations across scalable computing infrastructure which reduces run time. 

A legacy of complexity

Older actuarial modelling solutions require actuaries to code bespoke models. This takes time and requires resources that are better used elsewhere.

But more importantly, these models are influenced by the actuaries who develop them – they are often just end-user computing. The consequences of this are that they are: 

• Difficult to maintain
• Likely to generate unnecessary risk
• Limited by their reporting and visualisation capabilities
• Affected by poor or non-existent documentation 
• Hard to audit 
• Reliant on platform-constrained analytics

No code models

With evo-insight, you have a suite of no code actuarial applications with embedded analytics covering all major sectors of the insurance market.

Using evo-insight avoids working with a legacy of bespoke analytics that are difficult for anyone but the person who created it to understand. It is fully auditable and does not need users to have any knowledge of coding.

Our solution:

Is prebuilt 

• Can be configured in a short space of time
• Reduces implementation and testing time
• Is continuously maintained to keep pace with changing regulations
• Is equipped with embedded analytics

Areas that evo-sight pre-built models cover include:

• Liabilities - Term assurance, endowment, whole of life, annuities (including BPA), income protection, riders, NP, CWP, UWP and unit linked
• Assets - Government and corporate bonds, equities, property, swaps, options and other derivatives
• Solvency II - Standard formula SCR and stresses
• Analysis of Change 
• ORSA and Business Planning
• What-If Analysis - Flexibility to vary assumption sets, scenarios of sensitivities

Understanding your data

You need information so you can make intelligent business decisions. The deeper and more accurate the information, the better the decisions. But having access to that can be complicated and understanding it can become increasingly difficult.

Common needs are:

• Forecasting numbers for multiple scenarios
• Having data accessible to multiple stakeholders such as CFOs and CROs
• Continually re-running heavy actuarial models
• Conducting accurate business planning

Enhanced analytics

evo-insight provides powerful graphical interfaces and AI capabilities that can be used to create a visual rendering of your data. 

It places the user in control by delivering analytics into their hands, backed by powerful data management capabilities that provide them with usable, targeted insights.

Our analytics are:

• Able to be tailored to the needs of each user 
• Provided with an AI and a chatbot facility to source and present selected insights
• Able to provide graphical renderings of all data sets
• Equipped with interactive dashboards, so assumptions and parameters can be changed with instant updating of results for forecasting, business planning, and other analysis