PROJECTS FOR RETAIL CHAINS AND E-COMMERCE
Custom System Development for Modeling Future Cash Flows in Insurance Contracts
Client: a major international insurance company offering protection to individuals and businesses since 1947
Objectives

  • Develop a high-performance solution to replace ResQ, capable of handling complex calculations with high granularity
  • Create an advanced system for estimating future cash flows from insurance contracts, using multiple calculation techniques

Solution

  • Leveraging the B1 Graph accelerator, we built and deployed a powerful system to calculate future cash flows, including loss reserve estimates
  • The solution spans a wide range of applications, from non-life and life insurance to pension insurance and long-term savings plans
  • Designed for ease of use, the system enables users to build and modify calculation models without needing any programming knowledge
  • Cash flows for loss reserves are estimated using both deterministic and stochastic methods, such as the Chain Ladder, Bornhuetter-Ferguson, frequency and severity, independent increments, bootstrap, naive loss ratio, and the Cape Cod Model
  • The resulting data feeds directly into IFRS reporting processes

Project outcomes

  • A high-performance tool was developed on the B1 Graph accelerator, tailored to the client’s specific needs and leveraging in-depth expertise in actuary calculation methodologies
  • Fast processing of vast datasets: just 40 minutes to calculate metrics for 250 million contracts over 1,200 periods
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