As part of its iWorks Prophet actuarial modeling solution and Asset Liability Strategy (ALS) library, SunGard has launched an updated insurance asset-liability management (ALM) capability.
According to the company, the iWorks Prophet ALS library helps insurers meet stochastic ALM requirements, such as modeling the impact of management decisions and policyholder reaction. The new product is designed to provide a framework for performing business stress testing and an ability to create comprehensive models aligned with current and evolving regulatory reporting requirements, such as the Risk Management and Own Risk and Solvency Assessment in the United States, and Solvency II in Europe.
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