Actuarial Valuation is the eXii component that logs all the activity through the various accounts, creating a picture of cash flowing in and out of funds. It delivers the information required by a company's Actuary to be able to determine the business' long term assets and liabilities and to report on these as required.
It assists insurance companies in meeting their legal obligations. Actuarial Valuation renders transparent the complex workings of the company's funding, helping them to ensure that they hold sufficient reserves to meet expected liabilities – allowing a company to demonstrate that fact in their annual returns to HM Treasury.
Most systems offer some kind of management reporting function that assists actuaries in this vital duty. eXii Actuarial Valuation takes this kind of reporting to new levels of efficiency and accuracy. It leans on eXii's ability to consolidate funds and products within one core system – rather than many – and therefore presents actuaries with a far simpler, more holistic and more accurate set of data.
The bigger and more complex a company's product range, the harder the job of the Actuary. Typically, information will be drawn from many disparate systems with the concomitant variation in data format and accuracy.
The Actuary of the eXii powered organisation will experience far less trauma than his or her colleagues in other companies. EXii Actuarial Valuation has been designed specifically with the task of retrieving and expressing the relevant financial information in mind. The audit has the remarkable twin benefits of being both quick and simple – two words not usually associated with Actuarial work!
Since eXii obviates the need for isolated databases and processing systems for product groups, the information gathering occurs at one given point in time and draws from one single system. It is just one example of eXii's straight through processing.
eXii brings the technology, while Actuarial Valuation brings the functionality to make this happen. Easy to use and developed with the commercial needs of the business and its customers uppermost in mind, eXii puts you back in control of your business.