Moody's Analytics - RiskIntegrity Suite
Type of System
- Capital modelling
- Economic capital aggregation
- Economic / risk scenario generator
- Risk management
- Stress testing
- Data management
- End-to-end ERM
- Solvency II solution
- Internal/external reporting
- IFRS 17
Type of platform
Other features - the offering facilitates:
- Least-squares Monte Carlo
- Solvency II standard formula
- Solvency II internal model
- IFRS 17
What are the typical implementation costs?
Moody’s Analytics do not disclose pricing. The RiskIntegrity software is based on a subscription or licence model. Price depends on the size of client and the number of modules purchased.
Our modularity and pricing allow the solution to meet various requirements, from large tier 1 insurance groups to smaller solo entities.
How long does your software take to implement on site?
Implementations are highly dependent on the client size and project scope.
Please name companies that use the system/solution
iA Financial Group, Manulife and Belfius are examples of just some of the insurers Moody’s Analytics is working with on their IFRS 17 implementation.
Most recent significant update:
RiskIntegrity™ for IFRS 17
New accounting and reinsurance capabilities for the RiskIntegrity™ solution for IFRS 17. These new features will help insurers and reinsurers meet the stringent reporting requirements of the International Financial Reporting Standard (IFRS) 17.
Enhancements to accounting functions include the introduction of a Moody’s Analytics chart of accounts, end-to-end accounting logic, and mapping from an insurer’s accounts to the disclosures of insurance contracts under IFRS 17. Because the RiskIntegrity solution for IFRS 17 delivers these and other essential accounting capabilities, insurers can easily populate the chart of accounts and then generate journal entries to allow for a comprehensive movement analysis and a liability reconciliation analysis.
Insurers can now also use the RiskIntegrity solution for IFRS 17 to seamlessly capture the measurement of reinsurance contracts held under the new standard, viewing the results through our out-of-the-box financial reports.
Disclosures relating to onerous groups of insurance contracts using the premium allocation approach (PAA) method have been identified as a pain point by insurers reporting under IFRS 17. Insurers can now use the RiskIntegrity solution for IFRS 17 to assess if their contracts measured under the PAA have become onerous during the reporting period. They can then adjust the insurance liabilities accordingly using our parallel measurement approach.
Planned future enhancements:
How does your solution integrate with third-party systems or in-house systems?
The solution is based on open technology and can integrate with third-party systems.
What is the key attribute of your product(s) that differentiates it from your competitors?
Moody’s Analytics vendor maintained approach combines our modelling and software capabilities to deliver solutions that incorporate out-of-the-box calculations and analytics. This approach outperforms custom builds, offering effective implementation, robust and rapid production, and lower maintenance costs. A history and track record of delivering high-performance, cloud-based and award-winning technology projects in the insurance industry. Including our AXIS™ actuarial system, and RiskIntegrity™ Suite for Solvency II compliance
The breadth and depth of insurance capabilities across actuarial, accounting, economics and more is unmatched. This allows us to take emerging industry challenges in our stride, making Moody’s Analytics a partner for the long-term.
RiskIntegrity™ Suite for insurers IFRS 17, financial projection and risk metrics, risk, solvency and ERM needs