Although a principles-based approach is new to many US actuaries, those in Canada and abroad have trusted AXISí industry-leading processing power and flexibility for their principles-based reserving and capital needs assessment for many years. As the final adoption of VM-20 draws near, AXIS is uniquely suited to help our US clients transition towards life principles-based reserving. This article provides an introduction to VM-20 implementation in AXIS and includes an AXIS Guide which details how to set up your model. This KB discusses key functionality including the Net Premium Reserve (NPR), Deterministic Reserve (DR), Stochastic Reserve (SR), Stochastic Exclusion Test (SET), and Deterministic Exclusion Test (DET).
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