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AXIS Module - Annuity

Uses of the AXIS Annuity Module include the following, for both fixed and variable annuity products:

  • Pricing and design
  • Valuation
  • Financial Statements
  • Statistics on number of lives and total face amounts
  • Cashflow projection and testing
  • Surplus adequacy testing
  • Embedded Value and appraisal
  • Asset liability management
  • Required Surplus
  • Aggregate stochastic reserve and capital requirement based on CTE methodology
  • C3 Phase 2 capital requirements for US Variable Annuity products
  • Actuarial Guideline 43 reserve requirements for US Variable Annuity products
  • Stochastic analysis
  • Margin analysis
  • NAIC Financials
  • US GAAP Financials

Fixed annuities can be modeled as:

  • Accumulation phase,
  • Payout phase, or
  • a combination of both phases

Variable annuity features include:

  • Guaranteed Minimum Death Benefits (GMDB)
  • Guaranteed Minimum Accumulation Benefits (GMAB)
  • Guaranteed Minimum Income Benefits (GMIB)
  • Guaranteed Minimum Withdrawal Benefits (GMWB)
  • Earnings Enhancement Benefits (EEB)
  • Canadian Segregated Fund product guarantees

The AXIS Annuity Module contains a comprehensive collection of features for modeling annuity policies:

  • Multiple policyholder investment accounts choices
  • Multiple reinsurance treaties
  • Policyholder behavior modeling
  • Dynamic Valuation
  • Joint Life policies for Payout phase

Additionally, the AXIS Annuity Module supports many reserves methods, including:

  • Principles-Based Valuation (US)
  • Policy Premium Method (PPM)
  • Fund value
  • Fund - surrender charge
  • Cash value
  • Fund - DAC
  • Simple discount method
  • Zillmer
  • CARVM (AG33 and AG34)
  • Fund - DAC (straight-line, adjust for surrender charge)
  • Constant yield (FAS91) (payout phase only)
  • US GAAP SFAS 97

Up to 6 reserve bases may be run simultaneously.

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