Deferred Annuities

What’s New in AnnuityMaster?

Key Features

PolySystems’ fully integrated suite of production quality actuarial modeling software offers comprehensive valuation, projection, and experience study capabilities. With a unique combination of flexibility and out of the box functionality, PolySystems’ single platform can be used to calculate both prescribed and principles-based reserves and capital, perform fully integrated asset/liability projections for CFT and planning, set assumptions, carry out sensitivity and stochastic analyses, manage inforce profitability, price products and much more.

Key features for deferred annuities include:

  • Fully integrated with PolySystems asset modeling software, including scenarios for both interest rates and equity performance
  • An Equity Indexed Module that supports a wide range of living benefit riders, index crediting strategies and other product features
  • Powerful user tools for custom dynamic policyholder behavior (lapses, annuitizations, fund transfers, etc.)
  • Attribution Analysis to roll forward reserves
  • Sensitivity Testing and other ad hoc runs
  • GAAP unlocking

Our deferred annuity software runs efficiently so that your tasks can be turned around quickly and actuaries can concentrate on interpreting results.  It includes a high degree of “out of the box” functionality, and is built to complete a broad array of actuarial tasks for a wide variety of annuity types.  In addition, insertion points exist for cases where it is necessary for the user to include custom code (for dynamic assumptions, etc.) within the software’s established and tested routines.

Scenario projections required for SOP 03-1, FAS 133, etc. on large blocks of data can require a large amount of computing power.  PolySystems’ projection and valuation software is grid and cloud-enabled.  PolySystems can work with you to set up an environment that meets your specific computing power needs.

Broad Product Support

PolySystems’ deferred annuity software supports all major deferred annuity products including:

  • Fixed annuities
  • Variable annuities
  • Indexed annuities
  • Supports joint life products (first and second life, with Frasierization)
  • Supports combo products
  • Supports deferred maturity products
  • Supports annuity reinsurance (assumed and ceded)
  • Supports multiple riders:
    • Waiver (Including active and disabled lives)
    • Return of premium
    • Family riders
    • Primary insured riders
    • Other insured riders
    • Child riders
    • Accidental Death Benefits (ADB)
    • Long Term Care (LTC, including acceleration of benefits, extended benefits, and inflation of benefits
    • GMDB, GWB, GMIB, GMAB, EPR (including support for associated GAAP, statutory and tax calculations)

Multiple Accounting Methodologies

PolySystems supports valuations and projections for all major U.S. statutory, tax and GAAP reserving methodologies.  We actively follow potential changes to reserving rules and guidelines (e.g. VM-22 for fixed annuities), keeping our software compliant and ready for new regulations before they become effective.  PolySystems also supports Purchase GAAP for VOBA and other intangibles, and economic reserves and capital for ORSA, pricing and other applications.

Statutory & Tax
  • Statutory/tax valuation including Actuarial Guideline 33, 34, 35, 39, and 43 calculations
  • NY Reg 127 for market value adjustments
GAAP
  • GAAP projections for FAS 91, FAS 97, FAS 133, SOP 03-1 and other necessary accounting bases
  • SOP 03-1
  • SOP 05-1
  • RBC C3 Phase 2
  • Limited Pay Deferred Profit Liability
  • Stochastic Scenarios
Economic
  • Economic capital for ORSA, pricing, and other applications
  • Economic reserves for reinsurance and other applications

Output and Analysis

PolySystems produces a wide variety of standard and custom output.   We offer a vast library of predefined reports, including GAAP and statutory balance sheets, income statements, cash flow statements and over 280 other valuation and projection reports applicable to a multitude of modeling applications.  These reports are available at the seriatim level, in aggregate, or on a grouped (e.g. cohort) basis.

Detailed audit reports can be generated for hand checking calculations or sharing with auditors.  Out of Balance reports are automatically produced to identify errors in transactional data extracts.  The software also includes a robust report writer for developing custom PolySystems reports.  For complete flexibility, detailed data files are available containing every calculated variable.  These can be uploaded to any data warehouse for use with 3rd party reporting applications.

We encourage you to contact us for further inquiries or to request a demo.