Prophet Products

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Glean

Self-Assessment regimes like Solvency II in Europe, and the US ORSA place a lot of emphasis on experience analysis as a tool to both generate and validate assumptions.

Assumptions Manager

Prophet Assumptions Manager helps companies simplify and more effectively control the assumptions management process that feed critical values into Prophet.

Prophet Data Conversion System

Prophet Data Conversion System Before any modelling process is run, the necessary data, in the form of tables or model point files, must be collected and formatted.

Prophet Professional

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.

Prophet Libraries

Prophet incorporates a number of actuarial libraries which hold the variables, actuarial definitions and formulas which define the calculations you need to make.

Prophet GI

Prophet GI is FIS' new risk modelling solution for general/P&C insurers, consisting of capital modelling and reserving applications.

Prophet Enterprise

Prophet Enterprise is the next generation Risk Management Platform for insurers, combining advanced actuarial modelling with a powerful production platform.

Prophet Results Database Module

The Prophet Results Database Module loads your Prophet results into a Microsoft SQL Server database.Key points include:

IFRS reporting

Please visit our IFRS 17 micro-site for more videos and information on our IFRS 17 solutions.

Solvency II

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.

Life Insurance Specialities

Prophet is a highly flexible application which is used across a wide range of financial industries.

General / P&C Insurance

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.

Advanced Modelling

Under the latest risk-based reporting regulations, companies are required to perform multiple interacting projections to meet their regulatory requirements.

Proxy Fitting

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.

Enterprise Risk Data Management

Regulators and insurers’ own management are constantly demanding more information on risk and how it is being managed.

Prophet Cloud Services

Insurers are facing increasing pressure to maximize the value they can extract from their actuarial models.

Consultancies

Many actuarial consultancies around the world have licensed Prophet for their internal modelling purposes or to assist Prophet users with their modelling requirements.

Quality Assurance

Examine the impact of changes to your models. What has changed and why.

Single Platform

Prophet provides a single platform for ALM, pricing, planning and valuation that delivers the right combination of governance, flexibility and speed today's U.S. insurers demand.

Principles-Based Reserving

With VM-21 already live and Principles-Based Reserving (PBR) standards having taken effect on January 1, 2017, the world of valuations and projections has undergone a major transformation.

US GAAP

Prophet comes with standard U.S. GAAP functionality, both for seriatim FAS60 calculations and cohort-level FAS97 calculations, and offers a number of additional features.

Variable Annuities

Prophet comes with pre-built variable annuity functionality, for both U.S. GAAP and statutory reporting, including RBC capital requirements.

Prophet Services Overview

The Insurance Prophet Professional Services team offers options to assist with the deployment and implementation of the InsuranceProphet Development and Production environments.

Implementing and Upgrading Prophet Liability Models

With increased regulations such as Sarbanes Oxley, MCEV, Solvency II and IFRS, and the demand to reduce the reporting timescales, companies of all sizes are looking to improve their end-to-end reporting processes.

Prophet Model Review Service

Ever-increasing demands on actuarial models such as Solvency II, Stochastic on Stochastic, Replicating Portfolios and increasing regulatory requirements mean our customers are always looking for ways to improve their end-to-end reporting process.

Building Prophet ALM Models

Using Prophet’s ALS library, our experienced Prophet team can help you implement your Market-Consistent Embedded Value model(s) (MCEV) or upgrade your existing embedded value model(s) to take into account the latest MCEV or Solvency II principles.

Prophet Enterprise Readiness Service

Prophet Enterprise is a production-control framework designed to make your Prophet business process more effective by simplifying the activities of actuaries and the maintenance work for IT.

Prophet Enterprise Implementation Service

Prophet is a high performance enterprise-wide actuarial modelling system.

Prophet Project Management Services

A sound project management methodology is at the heart of every successful implementation and Prophet always provides a first class service to its customers.

Acceptance Testing

Acceptance testing is not about bug hunting or ‘breaking’ the software; it is about testing your requirements in real life conditions.

Upgrade Services

Prophet Professional is continually improved, and version 9 of the application provides significant benefits and opportunities compared to previous versions.

Prophet Cloud Services

Insurers are facing increasing pressure to maximize the value they can extract from their actuarial models.

Prophet GI Services

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:

FIS Insurance Thought Leadership

Today, insurers around the world face a common challenge – to grow the business while remaining profitable.

KB Insurance

FIS signs multi-million deal with South Korea’s KB Insurance to implement IFRS 17.

Success at AXA Asia

After evaluating various options, AXA selected FIS' Prophet Enterprise, an enterprise-wide actuarial production environment that provides security and control as required by Solvency II.

Success at Liberty Life

Prophet's Enterprise Risk Management framework is a comprehensive suite of solutions and services designed to help insurers implement Solvency II best practices.

Success at Baloise

FIS' Prophet actuarial modelling software solution is a comprehensive suite of solutions and services designed to help insurers implement Solvency II best practices.

Success at a large UK life insurer

A large UK life insurer moves to the Cloud for Lower Costs and Sky-high PerformanceThe companyWith headquarters in the U.K., our client is one of the world’s largest insurance and investment management companies, and one of the U.K.'s major providers of individual life protection policies and group protection.

Prophet Helpdesk

The Service Desk (Helpdesk) provides troubleshooting assistance to customers who experience problems with the Prophet suite of applications.

Prophet Training

FIS runs a selection of standard courses designed to train users on particular aspects of Prophet.

Supported Compilers

A compiler must be installed on the master machine used to prepare Prophet runs.

Prophet Webinars

We would be delighted if you could join us for our customer webinars, where we will keep you informed about important Prophet updates.

Prophet User Meetings

Prophet User Group Meetings are open to FIS customers using Prophet and offer the opportunity to learn more about recent developments to Prophet, its main offerings and its product roadmap.

Industry Events

FIS Insurance hosts and attends a number of industry tradeshows and regional events throughout each year to help us stay connected with our customers.