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How Finalyse can help
FIS PROPHET MODELLING SUPPORT
Finalyse’s actuaries and risk modelers can help you with the Prophet modelling and actuarial modelling needs.
Our Prophet developers offer pragmatic solutions to improve functionality and efficiency of models used for pricing, reserving and reporting purposes.
Leverage on our experts' extensive Prophet knowledge, if you use or intend to use Prophet, we can intervene, or be a part of development or testing activity.
How does Finalyse address your challenges?
Model Implementation
Design, integrate, test and document Prophet models used for reserving, product development, ALM, regulatory compliance and reporting purposes
Model review
Review, audit and validate existing models required for various reporting measures such as MCEV, IFRS17, Solvency II, Local GAAP etc.
Reduce complexity and cost
Fight model complexities by taking pragmatic approaches, identifying and implementing quick-wins or by completely reengineering existing processes and improve long term costs
Model migration
Perform model migrations where there are legacy data and systems e.g., following mergers or acquisitions. Ensure that Prophet models are consistent and compatible with clients’ systems and processes
Training
Provide Prophet training sessions, with the aim to transfer knowledge and ensure sound understanding of modelling techniques
Improve functionality
Introduce Prophet modelling techniques to enhance model’s functionalities by, for example, introducing calculation loops and minimising the number of ‘out-of-model’ adjustments
Key Features
- FIS ® Prophet is a widely used tool in the insurance industry which is used for pricing, reserving, ALM and ensuring compliance with regulatory requirements. It is crucial that companies have fully functional Prophet models in place which incorporate all aspects of their business.
- It is an ongoing challenge for companies to maintain their Prophet models, so that they can keep up with the evolution of their business as well as with changes to the regulatory environment.
- Finalyse, through its technical expertise, can support clients with all their Prophet needs, including, Prophet model development, implementation, merge and migration. We utilise Prophet knowledge, innovation and coding best-practices to generate real value over time.
Francis is a Principal Consultant in charge of our insurance practice in Dublin. He has 15 years of experience within the life and non-life (re)insurance industry. His expertise covers the areas of financial reporting, prudential regulation, and actuarial modelling. Francis has worked in both industry and consulting with extensive exposure to Solvency II and BMA-regulated clients and a keen eye on new regulatory developments.
Divyank is a Senior Consultant with more than 8 years of experience and a part qualified Actuary. He has acquired expertise in Solvency II, IFRS17 and MCEV reporting and has worked for life and non-life business. He has extensive experience in Prophet modelling, DCS, statutory valuation and IFRS17 implementation and his coding skills include Prophet and DCS modelling, SAS, VBA, R.
Seán is a qualified actuary with expertise in the areas of financial reporting and actuarial modelling for life insurers. He has strong modelling expertise in Prophet and DCS, having been involved in several migration projects and model updates in his previous roles.