Prophet Professional is an integrated suite of actuarial systems used primarily by insurance companies to perform actuarial calculations including profit testing, projections, reserving, asset liability modelling, stochastic modelling and risk management.
Solvency II and parallel risk-based capital regimes in China, Latin America and South Africa have been a focal point for many of our recent developments.Prophet is purpose-built to handle cash-flow projections, which are essential for the calculation of the Best Estimate Liability, whether calculated deterministically or stochastically.
FIS has extended its established expertise in risk modelling and data management to the non-life industry with Prophet GI.Running risk models themselves is only one side of the operational challenge for general insurers.
The rise of risk-based solvency regimes has prompted insurers to look for actuarial modelling solutions that are capable of being recalculated a large number of times in order to examine the impact of stressing particular assumptions or investigating a range of scenarios.
General/P&C insurers are under pressure to improve their reserving and capital modelling capabilities.To help customers optimize their use of Prophet GI and its end-to-end capabilities, FIS provides comprehensive services packages across:
Baloise faced key challenges including compliance with new regulations and the need to work efficiently with their data. FIS' Prophet solutions have enabled Baloise to meet these challenges and prepare for the future.