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. With Glean, FIS is adding a sophisticated experience analysis tool to the integrated toolset that supports Prophet.
Glean is an experience analysis and data mining tool which is part of Prophet's actuarial modelling solution. It provides the capability to analyse and interpret a wide range of experience data based on user-defined risk factors. Glean can be used in any situation where past experience needs to be analysed.
Glean can be used either as a standalone application or closely integrated with the Prophet system. It can read the mortality and generic tables used in Prophet to calculate expected rates. It also includes Prophet's Data Conversion System for the manipulation of data, including the calculation of the exposure information.
If you need to analyse any type of experience, be it for a mortality investigation or the effectiveness of a product marketing campaign, then Glean provides the ease of use and power that you need. For each stage of the process, from importing the data through to applying sophisticated analysis using statistical modelling techniques, Glean provides the required environment to help you achieve results quickly and easily.
To find out more, view the datasheet here.