Moody's Analytics - AXIS™ actuarial system
Type of System
- Economic / risk scenario generator
- Risk management
- Stress testing
- Asset/liability management
- Data management
- Internal/external reporting
- Portfolio analysis/hedging
- Reserving solution
- IFRS 17
Type of platform
Other features - the offering facilitates:
- NAIC RMORSA
- NAIC Principle-based reserving
- Solvency II standard formula
- Solvency II internal model
- IFRS 17
What are the typical implementation costs?
Moody’s Analytics does not disclose pricing. The AXIS actuarial system is designed in separately licensed modules, which allow each client’s cost to be appropriate to the functionality provided and business units served.
How long does your software take to implement on site?
The AXIS actuarial system is a vendor maintained solution that is ready to use immediately.
The software is delivered and installed with one single executable, which provides a common user interface to access all modules, and a consistency of design and usage throughout that simplifies learning and ensures smooth development of total company models.
While the initial implementation is straightforward, the full development of working models and applications will depend on the size and complexity of the portfolio and the application intended.
Please name companies that use the system/solution
Most recent significant update:
Moody’s Analytics is delivering an IFRS 17 end-to-end solution to AXIS clients which is comprised of significant enhancements to AXIS, Risk IntegrityTM IFRS 17, and a new AXIS module, AXIS IFRS17 Link that seamlessly connects the two products.
GridLink as a Service
GlaaS is a fully automated service allowing Moody’s Analytics clients to submit AXIS actuarial modeling jobs to a cloud-based infrastructure for processing under a pay-per-use model.
GlaaS provides easy and controlled access to farms of up to several thousand cores each, automatically provisioned by end use
GlaaS automatically handles the requesting and preparation of the needed Grid capacity in the cloud dedicated to the job, the execution of that job, and the release of cloud resources, without the need for any intervention or assistance by IT personnel.
GlaaS is hosted and managed by Moody’s Analytics in a secure cloud environment with a very large and elastic computational capacity. It uses the latest cloud networking, storage technology and virtual server instances which addresses the challenges of relying on aging infrastructure in an on premises or hosted grid.
Users may conveniently access GlaaS from any authorised computer in their existing AXIS environment. GlaaS server farms are deployed in multiple cloud regions ensuring redundancy while also respecting data residency requirements.
Planned future enhancements:
How does your solution integrate with third-party systems or in-house systems?
The AXIS actuarial system is designed to be easily integrated with in-house systems. It can import data from and export to most third-party and in-house database systems that offer ODBC connectivity, while native connectivity is offered to Microsoft SQL Server.
Integration with other systems may be implemented via ETL interfaces for exchanging and mapping data using text or spreadsheet (Open XML) formats.
What is the key attribute of your product(s) that differentiates it from your competitors?
Moody’s Analytics AXIS Actuarial Modeling System is widely used by life insurers, reinsurers and consulting firms for pricing, valuation, ALM, financial projection and planning, capital analysis, stress and scenario testing and hedging both in North America and globally.
The AXIS solution is a vendor maintained system offering users the security of locked code combined with flexibility and transparency. Available through an advanced cloud-based delivery platform or installed software, AXIS gives customers the efficiency of a fully integrated multiple application platform and the flexibility to rapidly deploy large-scale computing power on demand, while introducing market leading integrated model governance functionality.
AXIS Actuarial Modelling System used by life insurers, reinsurers, consulting firms for financial and risk management