READY FOR USE PRODUCTS for

INSURANCE companies and private PENSION FUNDS
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Alongside subject matter experts, project teams tasked with developing industry-specific digital products always include highly skilled actuaries.

Our team of over 20 actuarial professionals is fully equipped to develop actuarial models to help you automate a wide range of tasks, from calculating insurance reserves and estimating pension fund liabilities to analyzing insurance rates and assessing the financial stability and solvency of specific insurers, and more.

Our software development team brings together:

  • 20+
    highly skilled actuaries
  • 200+
    technical staff and developers
  • 30+
    clients, including major insurance companies and private pension funds (PPFs) across the Eurasian region

Our actuarial consulting and software development services include:

  • Automation of actuarial calculations and IFRS 17 reporting
  • Reserve assessments for insurance companies and PPFs as part of financial, tax, and actuarial due diligence to evaluate the attractiveness of proposed transactions
  • Solvency assessments of insurance companies, including the analysis of statutory reserves and evaluation of risk impacts on capital requirements
  • Validation and development of pricing options using multifactor models
  • Big Data analytics for pricing optimization
  • Financial modelling, e.g., to support cost benefit analysis of back office centralization projects or evaluate the profitability of loyalty programs
  • Fast Close projects
  • Asset-Liability Management (ALM) projects for insurers and PPFs
  • Performance assessment of the corporate actuarial function
  • Operational performance improvement and cost reduction initiatives

B1 GRAPH-based accelerator for insurance companies and private pension funds

B1 GRAPH (B1 Graph Mathematical Computation Tool) is a powerful cross-industry platform designed to perform large-scale computations in minimum time.

It forms the core of B1 GRAPH: Actuarial Modeling, a specialized cash flow modeling and loss reserving solution tailored to the needs of insurance companies and PPFs.

B1 GRAPH can address the following tasks:

  • Forecasting cash flows for insurance contracts
  • Calculating the present value of future profits
  • Preparing high-quality management reports for insurance companies
  • Developing pro forma P&L statements to support budgeting based on agreed assumptions
  • Simplifying pricing
  • Allocating costs and investment income across different insurance segments
  • Monitoring compliance with liquidity requirements and the matching principle
  • Estimating liquidity risks
  • Meeting regulatory requirements for estimating asset risks
  • Evaluating the adequacy of reinsurance protection
  • Calculating provisions under IFRS 9
  • Establishing an internal data control system

B1 GRAPH: Actuarial Modeling blends a wealth of actuarial methodology with high computational speed.
  • FAST IMPLEMENTATION
    1-3 months
    owing to pre-configured actuarial models
  • HIGH CAPACITY
    2.3 trillion metrics
    calculated in just 3.5 hours (8.7 million contracts across 1,200 periods)
  • HIGH SPEED
    2х faster
    reporting than Industry benchmarks
B1 GRAPH empowers insurance companies and private pension funds to:
  • Automate actuarial cash flow projections and predictive modeling in compliance with industry standards
  • Perform complex, highly granular calculations, dramatically reducing reporting times through optimized system performance
  • Build and modify computational models without programming expertise using an intuitive formula builder with an integrated math function library
  • Integrate directly with source systems using the built-in ETL tool
  • Visually configure input data structure through a customizable interface
  • Export results to BI analytics tools or leverage the solution’s built-in analytics system
  • Ensure a transparent modeling process for both users and auditors
  • Manage access rights and master data with flexibility
  • Organize projects by analysis period and business unit
  • Track and manage changes in contractual arrangements
  • Expand the platform’s functionality to support a broader range of business tasks

Functionality

  • Chain ladder
  • Bornhuetter-Ferguson
  • Frequency and severity
  • Independent increments
  • Bootstrap
  • Naïve loss ratio
  • Cape Cod
Each of these methods allows for alternative actuarial assumptions, enabling various approaches to selecting development factors and other parameters.

The system will automatically group computation outputs into cohorts as required by IFRS 17 and incorporate them into cash flow projections.
Using the formula builder for premium reserve cash flow projections
  • Calculation of future earned premiums using the pro rata temporis and fraction methods
  • A sequence of steps and pre-configured functions to build cash flow forecasts
  • Flexibility to choose the forecast horizon
  • Simple and transparent interface to modify actuarial assumptions and customize the standard computational model
  • Option to apply assumptions derived from loss reserve estimates
Calculating and projecting cash flows for private pension funds
  • A sequence of steps and pre-configured functions to build cash flow forecasts
  • Flexibility to choose the forecast horizon
  • Simple and transparent interface to modify actuarial assumptions and customize the standard computational model
The model accounts for the following cash flows:

  • Pension contributions from members/investors or insured individuals
  • Earmarked contributions from corporate investors
  • Redemption amounts or transfers to other PPFs resulting from contract terminations by members or insured individuals
  • Death benefits paid to heirs or legal successors
  • Regular retirement benefit payments or lump-sum disbursements
  • Contract administration costs
  • Management fees, custodian fees and deposit insurance agency fees
IT PLATFORM

The architecture of B1 GRAPH: Actuarial Modeling is optimized for high productivity and data security.

  • The computational core utilizes high-performance DAG-based technology.
  • Formulas are implemented as parameter-dependent functions, taking parameter values as inputs to enable high-speed computations during runtime.
  • The platform supports complex and DAG-based iterative calculations, eliminating the need for a distributed computing environment across multiple servers.
  • The ClickHouse database delivers blazing-fast data reading, resulting in minimal computation time.
Architecture and technology stack
  • UI Frontend: Typescript (React, Redux, Material), Plotly.JS
  • UI Backend: Java, Spring Boot
  • Calc. engine: Java, Spring Boot, Hazelcast
  • DB: Postgres + Clickhouse
Delivery options
  • On-prem
  • Cloud
  • Hybrid
Implementation support
  • Out-of-the-box solution: In just 1 to 3 months, you get a powerful tool with a wide range of built-in features
OR
  • Custom implementation: Integration with source systems and standard configuration adapted to your company’s needs (6+ months to complete)
  • Custom development accelerator: A tool designed to facilitate the creation of client-specific solutions
Any questions? Get your free consultation!
  • Vitali Baum
    A technology expert with over fifteen years of experience serving international companies.
    Specializes in digital transformation programs across various industries, with a special focus on implementing IT products for retail and e-commerce (both B2B and B2C), oil producers, OFS firms, insurance companies and pensions funds.
    innovations@baone.ae
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