Moody's Analytics - RiskIntegrity™ Suite
Type of System
- Capital modelling
- Data management
- End-to-end ERM
- IFRS 17 solution
- Internal/external reporting
- LDTI solution
- Solvency II solution
Type of platform
Other features - does your offering facilitate
- IFRS 17
- NAIC RMORSA
- Solvency II internal model
- Solvency II standard formula
What are the typical implementation costs?
Moody’s Analytics does not disclose pricing. The RiskIntegrity software is based on a subscription or license model. The 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. Updates for Solvency II and IFRS 17, as well as evolution of the framework, are part of the subscription or maintenance.
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 three examples of just some of those insurers we are now working with Moody’s Analytics on their IFRS 17 implementations.
Most recent significant update:
Moody’s Analytics' IFRS 17 solution is proven in production and now used by our customers to produce and submit official IFRS 17 results for all of our customers in 2023 and beyond.
After reaching this key readiness milestone in time for implementation, we are committed to the continuous improvement of the software to:
» automate and improve processes and controls
» allow for additional configuration options for new and niche products
» addressing future updates from the International Accounting Standards Board
We have also updated our product roadmap and release management strategy to optimise future upgrades to customer needs.
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' fully 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. We have a history and track record of delivering high-performance, cloud-based and award-winning technology projects in the insurance industry.
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.
What trends are you seeing in terms of customer demand?
We are seeing demand from insurers to help modernise and industrialise actuarial processes, and support the data and reporting requirements under IFRS 17. Our implementation processes enables customers to be up and running quickly, and to be self-sufficient in the transition to the new accounting framework.
Modern, scalable solutions for #IFRS17 and #LDTI to streamline accounting and actuarial processes.