Product innovations in German life insurance
Ilis stands for Insurance Liability Information System and provides the framework for centralised data storage. It ensures the data required for all kinds of project calculations is of high quality, up to date and available for auditing.
The software solution initiates the actuarial calculation of cash flows within the policy management function. It uses model points and cash flows and makes them available for assessments, forecasts and other analytical systems. Primary cash flows (payments, contributions, capital reserves, surrender values, contribution breakdown, etc.) with the primary calculation principles are calculated using exactly the same methods that are applied in policy management. There is no need for follow-up programming or maintenance of product knowledge within the forecasting software. The results from the forecasting system can then be processed for the different reporting requirements (Solvency II, MCEV, Insurance Analytics, etc.).
All data is thus available from a single source for reporting purposes. This cash flow approach is so flexible that it is compatible with any policy administration software
and with the forecasting systems generally available on the market.
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The upgradeable standard software gives your company maximum security of investment and a secure future.
Flexible product design
The software can be easily embedded in existing applications. Flexibility in system integration and predefined standard interfaces guarantee a rapid production start.
Integration of cluster-based policy compression
The tried-and-tested method of policy compression that is used in msg.Clustred is completely integrated in msg.Ilis. This makes it efficient and easy to achieve a high level of compression of insurance policies in good quality.
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