FIS - General/Property and Casualty: Insurance Risk Suite - GI Edition
Type of System
- Capital modelling
- Environmental, social and governance
- IFRS 17 solution
- Internal/external reporting
- LDTI solution
- Reserving solution
- Solvency II solution
- Stress and scenario testing
- Reinsurance optimisation, Asset portfolio optimisation
- Risk Based Capital calculations
- US GAAP and SAP"
Type of platform
- Cloud
- Desktop-based
- Grid
- SaaS
- Server-based
Other features - does your offering facilitate
- Curve-fitting
- Replicating portfolios
- Solvency II internal model
What are the typical implementation costs?
Implementation costs vary depending on the scope of the project. Most new clients moving to our system opt for our managed public cloud service, which makes for a much more streamlined implementation. For an on-premise installation, costs vary according to how much of the end-to-end suite that a client has licensed and the risks and regulations the firm is looking to meet.
Thanks to our extensive actuarial libraries, which cover general insurance/property and casualty (P&C), as well as an extensive range of regions and regulations, clients can build new models very quickly.
How long does your software take to implement on site?
Again, implementation timeframes vary according to the project’s scope and whether the solution is hosted in our managed cloud or on premise. But extensive out-of-the-box functionality and actuarial libraries make it easier for insurers to rapidly deploy our software and develop risk models to meet internal risk needs as well as manage solvency regimes, IFRS 17 and other financial reporting.
Please name companies that use the system/solution
Globally, more than 1,000 client sites in over 80 countries use the solution. We do not disclose all of our clients but a range of case studies are available.
Do you have an open API?
Yes
Does your solution incorporate AI technology? How?
AI is on our product roadmap.
Most recent significant update:
Further enhancements to the General Insurance Reserving solution adding additional example and configurable metrics to support loss reserving.
Further enhancements to the General Insurance Capital Modelling solution adding additional optimisations and support for large volume per policy calculations and integration with the IFRS 17 Reporting solution.
Planned future enhancements:
Continued support for developing global risk based capital requirements alongside enhancements to support client use cases.
How does your solution integrate with third-party systems or in-house systems?
Integration with third party systems is supported directly through API's, plugins or dedicated connectors, as well as the ability to apply custom transformations of data inputs and outputs.
What is the key attribute of your product(s) that differentiates it from your competitors?
Best overall actuarial modelling solution for insurers of all types and sizes, globally with actuarial libraries to support different product types, regions and regulatory requirements.
What trends are you seeing in terms of customer demand?
Market proven solutions balancing the latest technology with flexibility, standardisation, transparency and easy of learning.
Contacts
Neil Covington
Global Head of General Insurance Solutions, FIS
+44 (0) 7919 887848
Email: [email protected]
