Enterprise Risk Management Technology Guide 2023

Moody's Analytics - AXIS™ Actuarial System

Type of System

  • Asset/liability management
  • Economic / risk scenario generator
  • IFRS 17 solution
  • Internal/external reporting
  • LDTI solution
  • Portfolio analysis/hedging
  • Reserving solution
  • Stress and scenario testing

Type of platform

  • Cloud
  • Desktop-based
  • Grid
  • Server-based

Other features - does your offering facilitate

  • IFRS 17
  • LDTI
  • NAIC Principle-based reserving
  • Solvency II internal model
  • Solvency II standard formula

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 execution, 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 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

Seguros RGA

Most recent significant update:

New releases of the AXIS actuarial system responding to client requests and implementing new features and functionality based on our own assessment of updates needed (for example, to enhance performance or flexibility, respond to technology changes and pending regulatory requirements). Key improvements in the last 12 months:

1)      We added the ability to model structured assets for reinvestment purposes natively in the AXIS system.

2)      Based on user feedback and suggestions we have redesigned the screen structure so that it is more user-friendly and easier to use

3)      Extended the system to allow multiple models to easily be combined and run together and have released this to our customers in beta format (super dataset). This functionality allows our larger customers to combine models from various departments more easily, to understand the results and interrelationships when they are combined.

4)      Updated the system to extend our new assumption assignment framework for AXIS models to include the ability to assign insurance product features in the same manner. This directly supports our customers and allows them to efficiently build their models in the AXIS system and gives them the ability to define one source of the truth for product features.

Planned future enhancements:

Not disclosed

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, the AXIS system 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.

What trends are you seeing in terms of customer demand?

With increasing demands on the actuarial function, many insurers have launched actuarial transformation projects, including those for full actuarial software replacement. Reviewing their processes to identify how best to meet both higher productivity and tighter controls. In addition, seeking systems to help modernise and industrialise their actuarial processes, and support the data and reporting requirements under IFRS 17, and the latest statutory and GAAP requirements.


AXIS Actuarial Modeling System used by life insurers, reinsurers, consulting firms for financial and risk management.


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