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Actuarial Pricing, Valuation & Capital Solutions

 

PathWise Solutions Group has extensive experience in life and P&C insurance product modeling, pricing, valuation and risk management. It also provides actuarial appraisal services for M&A, hedging strategies analysis and actuarial system transformation and optimization. It is a team of fully-qualified actuaries and experienced financial engineers. Over the past five years, the PathWise consulting team has successfully completed more than 20 system transformation projects. One notable example is the successful implementation of IFRS 17 and K-ICS for Kyobo Life.

 
 

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PathWise Model Libraries

Liability Model Library

PathWise provides Liability Model Library for traditional whole life, universal life, interest rate sensitive and variable life insurance products. The library includes cash flow models in PathWise Modelling Studio (PWMS) and automated processes for reserve and capital calculations.

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IFRS 17 Library

IFRS17 Library is designed specifically for financial reporting to assist companies in complying with the new International Financial Reporting Standard 17 for Insurance Contracts. It works with cashflows generated by PathWise Modeling Studio or other actuarial software and provides a generic IFRS17 reporting and calculation engine with sample methodology. The IFRS17 Library can be customized to a company’s specific requirements but it also works out of the box.

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PBR Model Library

Principal Based Reserving (PBR) Model Library provides calculation templates for VM-20, VM-21 reserve calculations under the new NAIC PBR statutory framework. The PBR Library supports modeling explicitly or implicitly clearly defined hedging strategies (CDHS) including dynamic, semi-static, and macro hedging.

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Compression Library

Compression Library implements inforce policies selection methods to represent the original seriatim inforce book. This library is available through PathWise Analytics Studio (PWAS). It allows compression in various settings including selecting a subset of inforce policies and estimating the book-level quantities for different shocks and future time steps.

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Economic Scenario Generators (ESG) Model Library

PathWise provides a state-of-the-art ESG model library that contains the most popular real-world and risk-neutral models used in insurance pricing and valuation. On-the-fly scenario generation enables efficient scenario-based analyses. The user can also combine different interest rate models and equity models to create hybrid ESGs. Calibration is available as a part of the automated end-to-end scenario generation process which also includes model validation and sign-off.

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Non-Life Reserving

Non-Life Reserving is a general insurance loss reserving package built upon PathWise applications. It supports deterministic reserving methods, stochastic reserving methods and cutting-edge claim level reserving with GPU support.

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