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Accelerating Product Development & Pricing with evo-insight 

Accelerating Product Development & Pricing with evo-insight 

brian • November 23, 2023

Accelerating Product Development & Pricing with  evo-insight

Insurers seeking to develop new products or reprice existing ones typically have to build models in either their legacy actuarial modelling solution, spreadsheets, or other tools such as Python and R. In all these “ build and maintain”  approaches the modelling team are responsible for the code development, testing, maintenance, infrastructure, and operational usage.

In contrast,  evo-insight  provides a unique new approach that allows actuaries to  subscribe, configure and visualise  their required analytics without coding! The rich and mature suite of no code product applications includes term assurance, income protection, unit linked and with profits products. Actuaries can configure their unique product features, set assumptions, enter data, run models, and visualise results  delivering governed analytics rapidly into the hands of users!

evo-insight also ensures that all the applications are kept up to date in terms of evolving product features, modelling approaches, regulatory and market changes with full documentation to aid audit and governance.  Utilising the same underlying valuation cashflow models  evo-insight provides seamless and consistent transition from product development to regular BAU reporting.

Specific product development features include: 

  • Flexible product feature configuration
  • Flexible sensitivities and assumption setting
  • Model point creation
  • Model point profitability assessment
  • New business cohort modelling with business plan impact assessment
  • Full rebasing and Solvency II stress tests
  • Insightful analytics with rich and interactive dashboards
  • Full documentation

All evo-insight  applications are built and maintained by Zenith’s specialist consultants

 

Insights

Solvency II Solution of the Year

By tom • March 7, 2024
We are delighted that our evo-insight no-code modelling solution has won the prestigious InsuranceERM’s Annual UK & Europe Awards 2024 Solvency II Solution of the Year. The judges felt that “evo-insight stood out as a…Read more The post Solvency II Solution of the Year appeared first on Zenith Actuarial.

Are you looking to rapidly to convert your complex spreadsheets into powerful web applications?

By brian • December 18, 2023
Spreadsheets are a critical component in actuarial, finance, pricing, and underwriting processes. However, these complex spreadsheets, often with embedded VBA macros, typically present numerous challenges related to governance, performance, automation,…Read more The post Are you looking to rapidly to convert your complex spreadsheets into powerful web applications? appeared first on Zenith Actuarial.

Are you struggling to provide accurate, timely information for business planning? 

By brian • December 1, 2023
Are you struggling to provide accurate, timely information for business planning?  Finance departments are continuously seeking to support the business planning and decision-making process in a governed, rapid, and responsive manner. Much of the information…Read more The post Are you struggling to provide accurate, timely information for business planning?  appeared first on Zenith Actuarial.

Zenith’s new Solvency II Market Insights AI Service

By tom • November 14, 2023
We are pleased to announce the launch of our Market Insights AI service powered by evo-insight. Leveraging PRA monthly Solvency II data, this service provides users with an interactive AI driven experience coupled with…Read more The post Zenith’s new Solvency II Market Insights AI Service appeared first on Zenith Actuarial.

No Code Applications for Bulk Purchase Annuities

By tom • October 6, 2023
The Bulk Purchase Annuity (BPA) market in the UK has been growing rapidly and is set to expand further with new entrants joining the existing participants.  At Zenith we have…Read more The post No Code Applications for Bulk Purchase Annuities appeared first on Zenith Actuarial.

Reform of the Matching Adjustment

By tom • October 2, 2023
PRA Solvency II reforms: CP19/23 Reform of the Matching Adjustment From our work supporting many UK insurers, we appreciate that the Solvency UK reforms will be a key focus for…Read more The post Reform of the Matching Adjustment appeared first on Zenith Actuarial.

Auto-Scaling of Stochastic Spreadsheet Models with evo-insight

By tom • September 28, 2023
The financial services sector frequently utilises complex, stochastic spreadsheet models, which can contain months or years of valuable development work and IP. Often, these spreadsheets need to access externally generated scenario files or use Excel’s random distribution generators…Read more The post Auto-Scaling of Stochastic Spreadsheet Models with evo-insight appeared first on Zenith Actuarial.

Discussing technology trends in the InsuranceERM technology guide

By tom • September 12, 2023
We are delighted that the Insurance ERM 23/24 Enterprise Risk Management Technology Guide features an interview with our Commercial Director Dan Wainwright in which he discusses how evo-insight supports insurers…Read more The post Discussing technology trends in the InsuranceERM technology guide appeared first on Zenith Actuarial.

Delivering Governed Analytics Rapidly into the Hands of Users

By tom • September 11, 2023
The insurance market is a dynamic and increasingly complex environment. This has led to growing demands on actuarial and finance departments to produce new and enhanced analytics, to support strategic…Read more The post Delivering Governed Analytics Rapidly into the Hands of Users appeared first on Zenith Actuarial.

2023 – The Next Phase of the IFRS 17 Journey!

By tom • August 24, 2023
Many insurers have now reported their 2023 HY results for the first time. This is clearly a major milestone. However, from our discussion with clients this is being viewed as…Read more The post 2023 – The Next Phase of the IFRS 17 Journey! appeared first on Zenith Actuarial.
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