FIS Insurance Risk Suite: Comprehensive US GAAP Reserving and Reporting Solution
Optimize your financial reporting and reserve calculations with FIS Insurance Risk Suite and US 360 — the industry-standard solution for US GAAP requirements. Our suite integrates seamlessly into your actuarial workflows, providing automated, transparent, and robust tools for all your US GAAP reserving needs.
GAAP reserving
FIS Insurance Risk Suite and the US GAAP Cohort 360 actuarial library comes with standard US GAAP LDTI functionality. This includes the following reserve calculations:
- Cohort level benefit reserves calculations for traditional life and health products
- Deferred profit liabilities
- Additional liabilities
- Embedded derivatives - provides various options for the host accrual rates, including an input option and multiple solve methods
- Market risk benefits
- Deferred acquisition costs – including ASU 2018-12 and AICPA methods of amortization
- Sales inducements and unearned revenue reserves
- Terminal dividend liabilities for participating life products
GAAP disclosures
The US 360 LDTI GAAP Disclosures example model provides:
- Examples of common US life, annuity, and health products, including additional balances that are calculated within the US GAAP Cohort Disclosures 360 library and used for populating required disclosures
- Data automation tools for policy data, past model results, and actual experience
- Journal entry creation for integration with your general ledger
- Disclosure reports accessible in both database and Excel formats
GAAP projections
Get a clear picture of how your company will fare under a variety of economic or non-economic conditions. Using Nested Structures, you can project future GAAP balances such as DAC, additional liabilities and MRBs, under any variety of potential scenarios, as well as the future unlocking (both retrospective and prospective) impacts in the projection. Learn more about our Nested Structures functionality.
Asset liability modeling
Because US GAAP is incorporated into Insurance Risk Suite's asset modeling, you can calculate and project full GAAP balance sheets. Insurance Risk Suite also lets you calculate future crediting rates based on the asset earned rate for interest-sensitive products. Learn more about our ALM capabilities.
Market Insights
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US GAAP LDTI Webinar
