 |
|---|
Financial Reporting Software
ARCVAL
The ARCVAL system is a fully integrated solution designed to handle reserve calculations for Statutory, Tax, Alternative Minimum, GAAP, and Gross Premium needs. It offers a comprehensive financial analysis platform that addresses all your reporting requirements for Universal Life, Traditional Life, Annuities, Structured Settlements, and Health. Our system is modular, allowing you to license and utilize specific modules that seamlessly integrate to deliver a complete actuarial solution tailored to your company's needs.
At ARC, we stay ahead of evolving valuation requirements by providing regular system updates and enhancements. Our program code is crafted by actuaries who deeply understand both historical and current product features and their valuation needs. We continuously update the system to incorporate new product innovations and reflect the latest industry standards.
The ARCVAL System is designed for optimal performance, delivering exceptionally fast calculations and advanced HTML audits. Our choice of technology ensures rapid processing speeds and a user-friendly interface, enhancing overall efficiency and ease of use.
Our team actively engages with industry committees and workgroups to remain informed about new regulations. ARCVAL is equipped to support principle-based reserves and GAAP Long Duration Targeted Improvements, ensuring that you can meet today's regulatory challenges and adapt to future changes with confidence.
ULtraVAL
Calculation of Statutory, Tax and Alternative Minimum reserves for Fixed, Variable, and Fixed Indexed Universal Life and Interest Sensitive Life Products.
TL-Flyer
First principle calculation of Statutory, Tax, Alternative Minimum, and GAAP reserves for Traditional Life insurance products. Factor application is also supported.
Data Management
ARCVAL will enhance your company’s data management.
-
Broad definition of plan that allows multiple administrative system plan codes to be mapped into one plan code. This simplifies ongoing management of valuations and financial forecasts.
-
Plan set-up utilizing ARCVAL’s information grouping technology facilitates rapid input of plan features and valuation assumptions. A hierarchical entry and retrieval approach accesses previously input data. Existing plan parameters and valuation assumptions referenced by an information group name may be used in creating new plans or modifying existing ones.
-
Datasheet View allows you to observe the plan and valuation characteristics for all plan specification/valuation groups at one time and to quickly edit them in a columnar format or select from drop-down list boxes.
-
Multiple assumption sets can be used to quickly and easily calculate reserves or forecast earnings using various sets of assumptions.
-
Logical screen linking allows input of new information group definitions on-the-fly. New definitions of information groups may be defined while entering plan assumptions, without moving to unrelated input areas.
-
GAAP history and projection databases are retained and updated during financial reporting periods for unlocking and DAC amortization. Historical gross margins can be developed using administrative system transactional data or reconstructed using projection capability, or a combination of both methods. A “hole-filling” capability for missing data is also available.
CARVM
Calculation of Statutory and Tax reserves for Fixed, Variable, Fixed Indexed, and Immediate Annuities according to the Commissioner's Annuity Reserve Valuation Method, including Actuarial Guidelines 33, 34, and 35.
HealthVAL
Calculation of Statutory, Tax, and GAAP reserves for Health Insurance products.
Structures
Calculation of Statutory and Tax reserves for Structured Settlement Annuities in compliance with Actuarial Guidelines IX-A and IX-B. Also calculates GAAP reserves.
STAR VA
Provides the Standard Scenario calculation and manages the stochastic scenario projections from SunGard's iWorks Prophet for Variable Annuity reserve and RBC calculations.
Reporting & Auditing
-
The valuation process can be controlled and maintained by the Actuarial Department.
-
A calculation audit capability allows the specification of particular policies or a percentage sampling from the inforce for inclusion in valuation audit reports. These reports contain the results of intermediate calculation steps and the assumptions used which allows for verification of the accuracy of the reserve calculations and input assumptions. The audit reports are HTML files which can be viewed in a web-browser. Audit reports are organized using tabs, making it easy to navigate through the data. The HTML audit reports can also be exported to Excel® workbooks.
-
A powerful report generator allows design of reports by selecting from hundreds of output fields. Reports may be printed, saved to formatted or unformatted files, or written to spreadsheets. Multiple reports containing either detail or summary data are easily created in a single pass of the reserve file.
-
Valuation code assignments allow summarization of reserve for Annual Statement reporting and tax return preparation.
-
User-defined data and policy characteristics included with system-required data in the policy level extract. This feature allows an unlimited variety and number of reports to be created using the system’s report generator. All such data and characteristics are also stored in the ARCBase database for experience and earnings analysis.
Accurate Results
-
GAAP unlocking is done in a production environment which leaves more time for analysis of results and less time required for process manipulation.
-
Projections can be run (i) on a seriatim basis where each policy is projected individually, fully reflecting the actual characteristics of the policy, (ii) on a seriatim basis, but with characteristics mapped as user-specified to a smaller number of characteristic values (i.e., ages 30-39 mapped into age 35) or (iii) using a model populated by the system from valuation data.
-
Seriatim projections fully reflect each contract’s characteristics, eliminating model error
-
Plan code filtering and search capabilities allow quick reference and display of information for existing plans and assumption groups.
-
An on-line display utility allows for the viewing of results for selected policies and attached riders. You can search for a specific policy number, plan code, sequence count, or browse in exact order.
Documentation
-
Context-sensitive Help: Access relevant help directly from any point within the CASE system with a single click.
-
Illustrated Guides: The CASE application comes with easy-to-follow installation and maintenance guides, complete with illustrations.
-
Comprehensive User Guides: Detailed user manuals are available for the ARCVAL, ARCBase, and Experience Analyzer components.
-
Supporting Documentation: Additional resources include thorough documentation on all file types generated or utilized by the system.
GAAP DA, UL, PAR, and SOP
Calculation, application, and management of DAC and other amortization schedules for Universal Life and Deferred Annuity products under FAS 97 and participating products under FAS 120.
GAAP History Builder
Develops historical gross profits, deferrals, assessments and benefits with actual policy transactions.
Financial Forecaster - TL and Structured Settlements
Seriatim forecasts of Statutory and GAAP results for Traditional Life insurance for profit planning, what-if scenarios, and sensitivity analysis using TL-Flyer and Structured Settlements for reserves.
Experience Analyzer
Allows you to configure experience studies including mortality, persistency, premium, and partial surrenders to understand your business.
Next Steps
For more information, contact:
