At the heart of every insurance company are their actuarial modelling and reporting processes. These are digital processes at their core, however, the ever evolving regulatory landscape boosts the need to keep digitizing them even further. The increasing number of necessary projections, assumptions, amount of data involved, and reporting frequency to comply with today’s internal and external reporting requirements put traditional processes at risk of becoming too slow and uncontrollable. Therefore it is essential for insurers to have access to the right tools to ensure quality and move with the times.
Download the brochure at the bottom of this page ↓
The KPMG Integrated Insurance Platform digitizes the actuarial modelling and reporting processes for life, pension, and disability insurers. The platform consists of 4 independent modules:
- Data model, which ensures control over all input data and assumptions.
- Calculation engine, in which extremely fast actuarial projection models can be constructed.
- Reporting module, in which results can be presented on both executive and analyst views.
- Process controller, which automates the entire processes from input data to report.
The KPMG Integrated Insurance Platform is Python based software that allows the user to add models for their products and customise reports in an easy and intuitive way, as well as to access the source code for advanced customisation. It also allows the user to connect the platform to any type of data source, and contains numerous automated controls. The platform is designed to ensure that the actuarial modelling and reporting processes are up to date and future proof.
What the KPMG Integrated Insurance Platform offers:
- A digital environment to cope with today’s and tomorrow’s business & reporting requirements.
- A powerful data handling philosophy, that ensures flexibility, scalability, completeness & auditability.
- Leverages on efficient actuarial methods and modern programming techniques for optimal performance.
- Simultaneous & consistent policy-by-policy projections of Solvency II, IFRS 17, and local GAAP liabilities, i.a. including the exact determination of the risk margin and the capability to perform full retrospective calculations.
- Extensive reporting capabilities, providing a deep level of insight in the insurance portfolio’s performance.
- A high degree of process automation, allowing the user more time to analyse results instead of preparing the processes.
- Potential release of prudency and expense reserves, due to exact calculations and process automation.
For more information, please download the brochure below, or reach out through our contact page.
Download the brochure: Integrated Insurance Platform