What AXIS Does
AXIS is an actuarial modeling and analytics system widely used by life insurers, reinsurers, and consulting firms for many different actuarial functions including pricing, reserving, asset and liability management (ALM), financial modeling, capital calculations, and hedging.
AXIS permits modeling of a wide variety of life insurance, disability and health insurance and annuity products along with invested assets. It models both the direct business issued by insurers and simultaneously models the associated reinsurance arrangements.
AXIS can be many things at the same time: a rugged, controlled production reporting engine shared by a team, a flexible investigative tool for single user research and ad hoc analysis, and a model testing and validation workhorse.
How AXIS Works
AXIS produces detailed monthly cash flows covering a full product lifetime of up to 100 years, reflecting all contractual benefits and the underlying reinsurance arrangements. Projected new sales are added to seriatim or modeled inforce enabling realistic projections of monthly, quarterly or annual financial results on a true calendar basis. AXIS supports multiple financial and regulatory frameworks from multiple geographic jurisdictions simultaneously, including solvency capital measures and income taxes. Stochastic calculations are integrated and supported in multiple nested layers according to application.
You choose to license modules of AXIS appropriate to the types of insurance products or invested assets you want to model and to provide advanced functionality for specific functions. All modules of AXIS are tightly integrated and released as a single version of AXIS.
Reporting in AXIS
Reporting functionality is instrumental in a powerful, flexible modeling system like AXIS. AXIS provides a large number of reporting options, and allows users to build new reports on vendor defined components plus user formulas. Reports can be generated at seven different levels of granularity from contract level right up to the total enterprise. Reporting features support enterprise reporting needs, ad-hoc analysis or pricing exercises, model validation, scenario and stress testing, stochastic analysis with statistical measures on results.