AXIS Module - Group Annuity

Uses of the AXIS Group Annuity Module include the following for group deposit annuity plans:

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
Stochastic analysis
NAIC Financials
US GAAP Financials

The AXIS Group Annuity Module offers numerous features to support the specific requirements of modeling group deposit administration plans at both group and certificate levels, including:

Modeling of individual certificate movement to and from the group, as well as the lapse pattern of the group itself
Expense charges include those paid by group sponsor, in addition to certificate level charges deducted from fund balances
Product features and assumptions may depend on either total group assets and number of certificates, or on the asset level of each individual certificate, including:
- Bonus interest rates with banding or tiering, management fee reductions with banding or tiering, policy fee schedules commission scales
- Expense assumptions
Choice of approach to certificate modeling:
- Each cohort of entrants into the group and allocated assets can be modeled separately, allowing more detailed modeling when bonuses and charges are based on individual certificate fund balances
- The group of certificates and total fund balance can be modeled in aggregate, resulting in a simpler model with much quicker run-time.
Multiple investment options for fund balances through investment accounts

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

Fund value
Cash value on certificate lapse
Cash value on group lapse
Maximum of certificate and group lapse cash value
Fund - modified DAC
Simple discount method
Fund - DAC (level amortization)
Fund - DAC (amortize using rates in table)
Fund - modified DAC (amortize on positive base only)
CARVM

Up to 6 reserve bases may be run simultaneously.