Modules in AXIS
The AXIS actuarial system is designed in separately licensed modules, which allows the licensing and cost of the system to reflect the functionality and business requirements specific to each client. While licensed individually, the actuarial modules are delivered and installed with one simple executable, providing a common user interface and system-wide consistency that simplifies learning and facilitates smooth development of total company models.
Base Actuarial Modules
The AXIS actuarial system supports modeling of a wide variety of life insurance, disability and health insurance and annuity products along with invested assets. The basic actuarial calculations of generating insurance contract cash flows, calculating policy based reserve calculations, and projecting corresponding financial results are handled by the AXIS Liability Modules and DataLink.
Asset/Liability, Stochastic Analysis and Hedging Modules
The AXIS actuarial system supports the modeling of invested assets based on actual investment portfolios, reflecting a variety of basic and advanced reinvestment strategies including hedging techniques. Advanced analysis of business portfolios are supported by stochastic analysis of risk at current dates and throughout a projection.
Advanced Analytic and Reporting Tools
More specialized approaches and techniques of asset and liability modeling including scenario generation, stochastic analysis, user written formula code within liability modeling, and analysis of experience and earnings by source are enabled by licensing the Advanced Analytic Modules of AXIS.
Separately installed modules are available to establish a centralized enterprise modeling environment and to manage the use of grid and cloud based infrastructures for the execution of AXIS models in Enterprise and Technology Modules and Services.