Calculation Engine

 

The Calculation Engine is the actuarial heart of the Systemorph IFRS17 solution.

We ship a full-fledged, out-of-the-box IFRS17 model. It can be easily adapted to a specific data situation and methodology implemented in a corresponding company.

 

#IFRS17 #CalculationEngine

Use cases

 

Writing Specifications

One of the main problems in IFRS17 implementations is writing specifications.

It is easier to read and understand the specifications when you can simultaneously refer to a numeric example.

Systemorph Cloud Notebooks allow you to mix prose texts, formulae, and numeric examples in one place so that business rules are transparent, and the specifications can be understood by multiple departments from technical to business.

The Systemorph IFRS17 solution comes with a specification notebook in which the Calculation Engine is broken down into elementary steps that the reader can choose to execute cell by cell in an interactive manner.

Finally, the specifications are easy to adapt due to the simplicity of editing the notebooks.

Simulation Engine

Due to auditability requirements, development of IFRS 17/9 systems often involve demanding and staff-intensive processes until new features can be implemented. It is thus necessary to be able to try out methodology changes before they are fed into the implementation process of the production systems.

The Systemorph IFRS17 Calculation Engine provides an efficient and cost-effective way to implement desired methodology changes in a timely manner. Impact analysis can be performed with little investment, to justify the bigger investment required in the production systems.

Test Engine

To ensure correctness of IFRS17/9 implementations, it is required to build a second, independent implementation.

Due to the complexity of IFRS17/9 computations, only special cases with little complexity can be modeled in Excel. The Excel implementations are not maintainable and very tedious to update.

Implementations in other languages such as Python and R can become very big and hard to read and enhance. Often parts must be re-written as requirements grow.

We provide a professional, easy to maintain framework that allows you to conduct the following:

  • Develop interactive test cases in notebooks.
  • Run the test notebooks automatically in the cloud to ensure full regression testing.
  • Provide maximum security around maintaining the implementation of production systems.