The Problem

Management increasingly want more and more information on which to base insightful business decisions. Ideally this needs to be delivered in a graphical, easy to understand format.

Actuaries, CFOs and CROs in particular need to be able forecast numbers over future time periods based on multiple scenarios for business planning purposes. Currently this can be difficult to achieve without having to continually re-run the underlying heavy actuarial models.

The Solution 

evo-insight solves this problem as the applications incorporate interactive dashboards with embedded AI and forecasting capabilities which can be tailored for actuaries, CFOs and CROs – without having to re-run the heavy actuarial models!

Indeed, a key objective of evo-insight is to rapidly deliver analytics into the hands of users providing insights into the business to support strategic and tactical decision making.

evo-insight has powerful graphical, analytical and AI capabilities packaged within the applications. The AI provides users with an interactive AI driven experience coupled with a Chatbot capability to source and visualise their selected insights.. This is supported by a range of pre-built reports, interactive dashboards and, custom analytics can be developed on request.

As we extent our range of analytics you can automatically benefit from enhanced features for the applications you use.

We have found that interactive dashboards are a particularly valuable tool for both actuaries and CFOs as results can be analysed and projected over future time periods.  Users can then vary assumption settings and visualise the impact of the changes in the dashboards. This approach supports a wide range of usages which are detailed in the section below.

Interactive Dashboards & Analytics

evo-insight has a comprehensive data structure & results repository from which advanced analytics can be generated. Interactive dashboards are a good example and a particularly valuable tool for actuaries, CFOs and CROs as the results can be analysed and projected over future time periods.  Users can then vary assumption settings and visualise the impact of the changes in the graphical dashboards with interrogation via chatbots. This approach provides real insight into the business and supports a wide range of usages such as:

  • Standard and bespoke assumption sets to support the generation of insurance analytics. The processes enables unlimited “what-if” and forecasting scenarios to be developed using an easy to understand and maintain approach. These forecasting capabilities enable users to see how results change under differing scenarios – a real insight into the sensitivities of the business!
  • Pre-configured calculation and analytics applications to generate cashflow projections for insurance contracts e.g., Best Estimate Liabilities for Solvency II, IFRS, and other applications such as product pricing and profitability.
  • Pre-built stress tests, including Solvency II Standard Formula tests –  no need to specify these in additional assumption sets or run-settings.
  • Analysis of Change  (e.g. CSM) processes pre-built and standardised. Enables rapid processing of movement analysis between reporting periods.
  • Forward rebasing of projections (e.g.; for future Solvency/Capital projections required for ORSA)
  • Custom analytics can be developed on demand

Separate dashboards can be developed for each portfolio, user, or provide an  aggregated view of all lines of business with drill-through capabilities. A CFO Dashboard for example could display a range of metrics and the underlying assumptions can be changed simply by moving a slider. This is a powerful feature for analysing future scenarios with AI, for Business Planning purposes.

We have a range of pre-configured dashboards that are available for clients to utilise and additionally we can develop custom analytics for clients.

Related Insights

View all

Actuarial ‘Analytics as a Service’ in Practice

How ‘Analytics as a Service’ can benefit the actuarial world By COO, Martin Sher What is analytics as a
Read more