and regulatory compliance in reserves calculations.
AUTOMATIZATION OF RESERVING PROCESS
With addactis® IBNRS®, the modifications made by each user instantly impact the reserves calculation. Moreover, an Individual Claims Reserving module allows the user to calculate provisions using individual claims database. Individual analysis of each claim evolution process allows to predict provisions. Any project content can be easily exported to an Excel file or a text file. The Excel files will be updated on demand when the source project is modified.
addactis® IBNRS® audit trail is available allowing to identify all the changes brought in a project.
VAST RANGE OF STOCHASTIC & DETERMINISTIC METHODS
addactis® IBNRS® provides the most used deterministic methods. You will also be able to make projection or calculate your provisions using stochastic methods among them, Mack’s bootstrap or stochastic probability distribution. Distribution graphs are displayed in order to analyse reserves volatility.
SII & IFRS 17 MODULES
addactis® IBNRS® provides a Best Estimate module leading to cash-flows projection with SII-fashion way, also based on user assumptions.
Inside addactis® IBNRS®, insurance contracts are measured either by applying the Building Block Approach ( BBA ) or the simplified Premium Allocation Approach ( PAA ). The valuation of reserves is based on portfolios that combine insurance contracts with similar risk profiles, whereby a distinction is made between profitable, might become onerous and onerous contracts. addactis® IBNRS® projects the future cash inflows (e. g. premiums ) and outflows ( e. g. claims and expenses ) at the portfolio level, and can aggregate these cash flows to higher consolidated levels associated with diversification effects.