Insurance Projection Model Implementation

Client

Life insurance company

Description

The project object of this client is building a new financial projection model for a life insurance company as well as the digitization of the corresponding processes around reporting and model estimation. We are responsible for the design for extending the design of the existing IT solution and implementing a sensitivity analysis model taking into consideration: assets, liabilities, accounting, Solvency I, Solvency II, dynamic policy behaviour and derivatives pricing.

Profile

One of the largest European life insurance companies
Several tools based on legacy Excel spreadsheets which require redesign
Client requirement to provide flexible user interface accounting for dynamic policyholder changes

Challenges

New solution had to be solid, robust and scalable to support the new demands, as the old implementation was Excel based
Dynamic modelling of sensitivities, including various company structure and market data assumptions
Various users across the company using different presentation layers of the final model outputs

Project Delivery

Our team analysed the existing Excel based implementation and the functional requirements from the client and the relevant stakeholders
We proposed a robust framework for the model implementation that would be scalable to various usages beyond the existing flows. Research technologies for the insurance modeling and their Python implementation
Our team delivered a model implementation, including extensive unit testing and model documentation that is robust and scalable

Features

Flexible and stable solution
In time delivery
Dynamic modelling and control

Technologies

Python
Dash
Data Visualization
Microsoft Power BI
Data Analytics
Data Analysis Expressions (DAX)

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Insurance projection model implementation

Client

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