Case Study

Consolidation & Automation of Annuities Benefit Calculations Leading Annuities & Life Insurance Carrier

Consolidation & Automation of Annuities Benefit Calculations Leading Annuities & Life Insurance Carrier

Pages 2 Pages

The Client, a top Life Insurance and An- nuity Carrier serving the Group and Indi- vidual markets wanted to increase their footprint in the Annuities market through the introduction of new products. The carrier also wanted to stay compliant in an ever changing regulatory environment. Key to achieving these objectives was the consolidation of the annuities benefit cal- culations from disparate sources and pro- vide business users with a repository to manage and control complex calculation logic and manage multiple versions of formulae & algorithms without deleting older versions. The carrier had core annuity calculation logic residing in Excel spreadsheets, lega- cy systems documentation and product manuals. As a result, introduction of new calculation logic or changes in exis

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