PolySystems payout annuity software offers integrated financial reporting, projection, and source of earnings capabilities from a single platform. Our robust structure to link assumptions to policies allows for any combination of benefits, retirement assumptions, inflation assumptions, and expenses. PolySystems supports all major U.S. statutory, tax, and GAAP reserving methodologies and actively follows potential changes to reserving rules and guidelines (e.g., VM-22) to keep our software compliant.
[tabs position=”top-left” style=”simple” type=”click”] [tab_title]Broad Product Support
[/tab_title] [tab_content]Broad Product Support
PolySystems payout annuity software supports all major payout annuity products, including:
[list type=”icon” style=”none” icon=”check-square” icon_color=”#ff461e”]- SPIAs
- Structured settlements
- Immediate and deferred retirement annuities
- Pension buyout products
- Participating payout annuities
- Variable payout annuities
- GICs
Processing Highlights
[/tab_title] [tab_content]Processing Highlights
Processing capabilities for our payout annuity software include:
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- The ability to run 25 different valuation bases at one time
- Stochastic mortality projections
- Spousal benefits
- Early and delayed retirement calculations
- Separate payment streams for primary/contingent annuitants and contingent/noncontingent benefits
- IBNR adjustments
- Many substandard mortality options, including multipliers, rated age adjustments, and constant extra death assumptions
- Spot rate calculations for applying discounts
- Support for ancillary benefits and benefit factors
- Reporting files used to output business subject to New York State Insurance Department reporting guidelines
- Pricing
Multiple Accounting Methodologies
[/tab_title] [tab_content]Multiple Accounting Methodologies
Supported payout annuity accounting methodologies:
Statutory and Tax Accounting
[list type=”icon” style=”none” icon=”check-square” icon_color=”#ff461e”]- Stat and Tax Reserves
- Guidelines 9A for substandard lives and 9B for individual structured settlements and SPIAs
- NY Reg 128
- NY Reg 151 interest guarantee reserves
GAAP Accounting
- FAS 60, 91, and 97 calculation methods
- GAAP benefit and expense reserves
- GAAP maintenance expense reserves
Available Modules
[/tab_title] [tab_content]Available Modules
Additional modules can also be run with our Payout Annuities software for a variety of actuarial needs.
[one_half valign=”top” animation=”fade_in”]Policy History Management
Our Horizon software gathers, edits, manages, and prepares policy inventory data from admin systems or data warehouses.
Source of Earnings
Our powerful SOE tool analyzes how and why reserves change historically and prospectively.
[/one_half] [one_half_last valign=”top” animation=”fade_in”]Experience Studies
Our Measure software automates and productionalizes experience studies using data and assumptions in valuation and projection setups for a variety of decrements, including mortality and consideration.[/one_half_last] [/tab_content] [/tabs] [section background_repeat=”repeat” background_position=”center top” background_attachment=”static” background_scroll=”none” border_size=”1″]