AXIS™ - Moody's Analytics

Type of System

  • Asset/liability management
  • Data management
  • Economic scenario generator
  • Internal/external reporting
  • Portfolio analysis/hedging
  • Risk Management
  • Reserving solution

Type of Platform

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

Most recent significant updates:

Moody’s Analytics has designed a full end-to-end solution to address the IFRS 17 modelling and reporting challenges of AXIS clients. AXIS already supports multiple financial reporting and Solvency Capital frameworks simultaneously, and will continually be upgraded to comply with the evolving requirements worldwide. However IFRS 17 requirements will go beyond a mere change in valuation methodology and will dramatically change the process needed to produce current period financial statements. Therefore Moody’s Analytics is delivering a IFRS 17 end-to-end solution to AXIS clients under a three component strategy as briefly described below:

IFRS 17 Enhancements to existing AXIS modules

The core functionality added to AXIS allows clients to project the impact of IFRS 17 on contract liabilities throughout the life of a modelled portfolio of products, realistically reflecting financial performance through the insurance and finance results, and through other comprehensive income lines as may be appropriate.

IFRS 17 Link modules of AXIS

IFRS 17 Link modules extend each of the liability modules of AXIS (Regular Life, Par Products, Universal Life, Annuity, and Disability modules) to support current period reporting under IFRS 17. These new modules will enable efficient and controlled calculation and collection of all components of IFRS 17 reporting that are produced by the clients’ AXIS models.

Other Features

The offering facilitates

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

Integration with third-party or in-house systems?

AXIS is designed to be easily integrated with in-house systems. AXIS 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.

Implementation and Costs

Typical implementation costs:

AXIS is designed in separately licensed modules, which allow each system's cost to be appropriate to the functionality provided and business units served.

How long does your software take to implement on site?

AXIS 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 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.

Key attributes of product:

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 calculations and projection, stress and scenario testing and hedging both in North America and globally. AXIS is a vendor maintained system offering users the security of locked code. This has numerous benefits but has also necessitated that both flexibility and transparency be addressed as key requirements of the system.