The Problem

Most legacy actuarial modelling solutions require actuaries to code their own bespoke models. This requires a significant amount of time and effort utilising highly skilled resources. Typically these models are:

• Difficult to develop and maintain
• Resource intensive to run
• Require scalable compute and storage capabilities
• Create key persons risk
• Limited reporting and visualisation capabilities
• Poorly documented creating audit issues
• Analytics have to be custom built and maintained

evo-insight solves all these challenges and more.

The Solution 

evo-insights’ no code actuarial models, with embedded analytics, are the answer to these challenges and go beyond traditional heavy actuarial models.

The applications are:

• Proven in the real-world
• Prebuilt and can be configured in a fraction of the time compared to traditional actuarial models
• Reduces the potential for errors
• Designed to radically reduce implementation and testing timescales
• Maintained by Zenith to keep pace with market and regulatory demands
• Full documentation to aid understanding and governance

A key differentiator of evo-insight applications is having embedded analytics such as interactive dashboards for business insight. evo-insight saves insurers time and money and frees up skilled resources to focus on other, more demanding tasks.

No Code Actuarial Models 

evo-insight has a rich and mature suite of no code packaged applications designed to meet heavy actuarial modelling needs of insurers. The applications have been developed and maintained by Zenith allowing expensive client resources to focus on analysing the results and analytics rather than building and maintaining models in traditional actuarial modelling solutions, spreadsheets, or other analytic tools such as R and Python.

• Liabilities: Term Assurance, Endowments, Annuities, Income Protection, Riders, CWP, UWP, Unit Linked
• Assets: Government & Corporate Bonds, Equities, Property, Cash, Options, Concentration & Default Risk
• Solvency II: Standard Formula SCR & Stresses
• Automated Analysis of Change
• ORSA & Business Planning
• What-If Analysis: Flexibility to vary via Assumption Set, Scenarios of Sensitivities
• Individual Policy Level and Aggregate Level Cash Flows and Reporting
• Product: Pricing and Profitability

Beyond Traditional Heavy Actuarial Modelling

evo-insights no code applications go beyond traditional heavy actuarial modelling and have been used in a number of areas such as:

• Matching Adjustments for BPA Portfolios
• BPA Portfolio Modelling
• PRIIPs Compliance
• Consumer Duty Check List
• Business Planning and forecasting for Solvency, Balance Sheet, New Business Profitability etc.
• Operational Risk Model for ORSA
• IFRS 17