There is increasing pressure on actuarial modeling teams to produce results in ever decreasing timescales. For example, IFRS 17 has created a requirement for fast, up-front delivery of stochastic scenarios to feed into more time-consuming downstream accounting calculations. Therefore, the ability to streamline the modeling process has become a high priority for many insurers.
This paper sets out how Moody’s Analytics has integrated our Scenario Generation and Actuarial Modeling tools, to deliver a solution that allows insurers to run both models, without the need for manual intervention or file conversions. This reduces the operational risk that insurers are otherwise exposed to and the overall runtime of the modeling process; which increases the efficiency and flexibility of the modeling team.