In insurance companies, controlling models are applied in a great variety of areas. They are not only used for actuarial work, but also complex issues in the areas of risk management and controlling are increasingly addressed with the help of models. The forthcoming new regulatory framework that becomes more and more concrete in the Solvency II project raises specific requirements for the design and use of models in insurance companies.
Because of their complexity and the high number of calculation steps, models are widely implemented through IT solutions. Widespread office solutions, however, can often not be used as they frequently do not meet the requirements for audit-proof and traceable modelling results. Thus, it is often necessary to transform the model concepts into viable IT solutions that have to be smoothly integrated into the IT environment of insurance companies.
In many cases, the problem is that more time is consumed in preparing data and calculations than in analysing the results themselves. Thus, a distinct objective of models is not reached — they should support situation analyses and decision-making, but should not be a time-consuming discipline by themselves. Therefore, the implementation has to be directly linked with appropriate automation and process integration.
Our approach
In addition to providing sound expertise in the development of corporate models, we particularly ensure the adequate implementation of the models in the IT environment of your company.
We support you by…
- …drawing up data requirements resulting from the functional model view;
- …transforming the functional models into calculation kernels (if applicable, based on our standard software zeb//control);
- …designing and implementing suitable interfaces to data sources;
- …designing and implementing procedures for data processing so that the models can be adequately supplied with data in the required format and quality;
- …integrating models in appropriate reporting processes in your company;
- …designing the required framework for the long-term application of the model, including journalling processes, archiving processes, role concepts.
Your benefits
Based on its in-depth expertise in issues relevant to insurance companies, zeb/ is able to be a genuine sparring partner. By combining functional and IT know-how, we are able to support you comprehensively from the design of controlling models to their implementation in IT systems with appropriate process integration. Our integral support prevents the widespread problem of communication failures and ensures satisfactory project results.