US GAAP Link Modules Available for Licensing

Since the original release of the US GAAP standard ASU 2018-12, we have been actively enhancing the AXIS actuarial system to meet the overall requirements of supporting this new framework in AXIS models for all supported actuarial applications. In the first client Webinar updating clients on our LDTI project in March 2019, we described our plans to develop the new AXIS US GAAP Link modules as a key part of our overall US GAAP LDTI solution strategy. Since July 2019 we have been using Beta Feature Code 674 to enable free access to this functionality for purposes of your investigation and testing. 

 

We would like to inform you now that the transition to the licensing requirement for the US GAAP Link modules will occur as of July 2020. For AXIS releases in July and later we will no longer be supporting access to the US GAAP Link functionality under the Beta Feature code. Users will need to enter into a trial license or license the AXIS US GAAP Link modules to have continued access to all of our new functionality for current period reporting under LDTI. Modeling US GAAP financial reporting for purposes of pricing or projection in each of the AXIS liability modules will continue to be available with the existing licenses for those base liability modules.

 

Please note that you may continue to evaluate the AXIS US GAAP Link modules on older versions of AXIS by using the existing Feature Code 674, but these older versions will not be updated with US GAAP Link new features, enhancements or bug fixes. As we continue to further develop and refine the US GAAP Link Module functionality, some features may still require a beta feature code to access in addition to licensing.

 

A number of our Consulting firm clients have already confirmed licensing for US GAAP Link and will be prepared to assist clients in the development and implementation of current reporting processes using AXIS that fit well with your financial and corporate systems. If you have any questions about the consulting partners who meet the licensing criteria or the costs and benefits of licensing these important new modules please contact the AXIS sales team.