With actuarial models being used for more and more purposes, and Principles-Based Reserving (PBR) standards on the horizon, separate systems for valuation and projection are simply not equipped to meet new business and reporting requirements.
Prophet provides a single platform for ALM, pricing, planning and valuation that delivers the right combination of governance, flexibility and speed today's U.S. insurers demand.
A single, modern platform for multi-purpose modeling
With Prophet, you'll only need to model your products once, and reuse the same model for many purposes. As a result, you'll be able to:
Governance and transparency in one
Much more than a calculation engine, Prophet provides governance across the entire solution, without sacrificing transparency. It provides the flexibility needed for pricing, the control required for valuation, the speed demanded for ALM, and the granularity needed for planning. And most importantly, it allows you to manage your business while keeping control where it belongs - with you.
Prophet's multi-user, permissions-based actuarial modeling production environment is tailored to the specific needs of its users. It even includes a streamlined interface specifically designed for valuation users. When running models in production, you'll be able to:
Prophet also provides complete automation of the entire production process using Prophet's APIs and Prophet's business process management tool.
Learn more about the production environment, Prophet Enterprise.
Prophet provides standard actuarial libraries that offer out-of-the-box functionality to model Life, Annuity and Health products in the U.S., along with the relevant GAAP, statutory and tax reporting calculations. It even includes vendor-maintained calculations used specifically for valuation.
Moreover, our libraries are now sub-divided into books, allowing companies to more easily upgrade to the latest libraries as they are released.
Prophet also provides users with a comprehensive ALM library, with out-of-the-box functionality to model assets, investment strategies and the interaction between assets and liabilities.
Learn more about our actuarial libraries.
Learn more about our ALM capabilities.
Flexibility of development tools
Although Prophet's production environment is locked down, Prophet includes a robust developer's studio to provide specific users with full flexibility and intuitive tools to fit their modeling needs. The developer's studio enables you to:
Data and reporting
Prophet has an integrated data management platform which can manage and transport your data from the admin system through the calculation engine, eventually loading results into a data warehouse, which can be used for business intelligence. This award-winning platform allows you to:
Learn more about our award-winning Prophet Data Management Platform.
Learn more about our integrated experience analysis tool, Glean.