Consulting

 

PROPHET

Are You Getting the Most out of the Prophet System?

 

The Prophet actuarial projection system offers unparalleled levels of power, customizability, scalability, and auditability.  When models are designed to effectively perform multiple business functions, they can help actuarial teams better communicate and spend more time analyzing risk and less time on model maintenance.  Coding models to be clear, efficient, and robust requires a specialized skillset and ARC has you covered!  Whether you are just starting your Prophet implementation or are currently refining the process, ARC can help code, audit, and validate your models, and ensure that effective control processes are in place.

 

 

ARC has the expertise to help you with the following tasks...

Implementation

Whether you are implementing Prophet for the first time or consolidating other projection systems to Prophet, our Prophet experts are ready to help.  The planning stage for your Prophet implementation is key.  Whether you are looking for a domestic or an international solution our team of model architects can help at each step along the way and deliver high-value solutions rapidly. 

 

Use ARC in a staff augmentation role to reduce the strain on your resources and reach your milestones faster. Whether you have routine tasks such as the entering of plan data, coding product features, establishing assumptions, or have more complex needs like a full end-to-end solution or comparative analysis of projection results, leveraging ARC and our highly trained and experienced Prophet resources is your best option!

Library Upgrade / Migration

ARC has highly certified Prophet specialized resources that can help keep your Prophet libraries current and incorporate enhancements to your existing models. 

 

Are you in the process of migrating from the Asset and Global libraries to ALS?  

 

Engage with our ALM Prophet experts as they can help you make this transition!

• We will identify required changes in your current procedures.

• We will code enhanced functionality and identify differences in how assumptions are applied.

• Finally, we will compare projection results so that you can continue to get the most out of your asset and liability projections.

Model Review

ARC has world-class skills which can review your models to ensure:

• Model integrity

• Model consistency

• Performance Optimization

This will enable improved model performance and compatibility with new library releases.

Modeling Projects

ARC’s experts have been involved in a number of project specific applications.  We can assist clients in meeting their modeling needs, no matter what the purpose is.

Valuation

We know valuation!  ARC has been providing reserve calculations for over 25 years and our Prophet experts are available to assist you in performing the projection and valuation tasks required for your business.  We have assisted clients with cash flow testing, calculations for statutory reserves, GAAP calculations (e.g. DAC and SOP 03-1 Reserves), required capital (domestic and international) and in evaluating the impact of proposed regulations such as VM-20.

Asset Liability Management

Whether you desire a simple ALM solution, or a complex solution involving advanced and unique ALM strategies to quantify risk, evaluate alternative management strategies, and optimize return based on your risk appetite.  ARC has the Prophet experts to get it done.

Enterprise Risk Management

Our experts can help you implement processes to meet your corporate risk management needs.  We have assisted clients in implementing Solvency II and stress test processes to quantify the underlying risk for a variety of risk drivers.

Pricing

Our team of Prophet experts are available to perform or assist you in the design and pricing of new innovative products.  We have assisted clients in implementing new product features, as well as implementing new model pricing functionality.  We can help your organization solve for required pricing metrics and extract the information for various pricing cells to aid in the review of pricing results.

Corporate Model Governance Services

Your models can’t be considered “models” unless you have strict model control and validation procedures.  ARC is here to help and our experts with years of Prophet and general modeling experience, can help identify potential pitfalls that may cause challenges with future development.

Model Compression

Are you spending too much time running your models rather than analyzing your models?

 

Why not reduce your hardware footprint, achieve faster runtimes and lower memory requirements, while maintaining the accuracy you desire?  What you need is ARC’s Accutility software package which reduces the size of your models using cluster modeling techniques while retaining a high degree of accuracy.  For additional information see Accutility.

Process Review

Keep your hands to yourself and make your auditors smile!

 

ARC can help you automate the entire end-to-end process from admin system to ledger.  Our Prophet experts are available to assist you in reviewing your current processes and provide recommendations to improve your processes on the front and back end of your models. This will minimize or eliminate the need for individual involvement in the construction of data and assumptions for your projection needs and allow your actuarial staff to focus on providing valuable management decision making analytics.

Reporting

ARC can help you make the most out of your projection results.  From model design to data analysis, we can help you extract the data you desire, efficiently manage that data and produce the various reports, analytics and management summaries to assist you in your projection requirements.