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How Winners Are Chosen There are two rounds of judging that involve a scoring process. A panel of independent judges comprising senior risk and actuarial experts from across Europe and the United Kingdom reviewed entries in each of the 33 categories. Judges then voted to determine the finalists and ranked the finalists for each category.
Colin Holmes, General Manager of Insurance Solutions at Moody's Analytics talks about our four category wins at the 2021 InsuranceERM Americas Awards:
The Moody’s Analytics AXIS actuarial system is widely used by life insurers, reinsurers, and consulting firms for pricing, reserving, asset and liability management (ALM), financial modeling, capital calculations, and hedging. The AXIS actuarial system provides the flexibility to deploy large-scale computing power through an advanced cloud-based delivery platform or installed software.
The RiskIntegrity™ for LDTI solution helps insurance companies address the new Financial Accounting Standards Board (FASB) Long Duration Targeted Improvements (LDTI) requirements. RiskIntegrity for LDTI is part of a comprehensive LDTI solution offered by Moody’s Analytics that includes the AXIS™ actuarial system and AXIS GAAP Link products. Combined, these offer a solution for LDTI that includes liability valuation, efficient production of roll-forwards, management of historical data, long-duration insurance, and reinsurance components of a financial statement, including disclosures consistent with the examples provided in ASU 2018-12.
“"Good description of problem and solution. Excellent case studies."”
Colin Holmes, General Manager-Insurance at Moody's Analytics comments: “Under LDTI, actuarial assumptions must be monitored closely and updated at least annually. Insurers must have a process in place to make sure that assumption updates are made accurately and on time, and as part of a strong governance framework.”