Insurers use calculation models to help staff process and analyse data. They are important as they provide key measures for the insurer such as profitability, claims reserves, value and capital. The calculation are used in departments across the business, including actuarial, finance, underwriting, claims and new business. Examples of calculators include claims reserving, commission calculations, valuation models, capital calculations, debtor calculations and many others. Optalitix Models ensures company models can all be hosted in a single place. This ensures consistency of the calculation, with full version control as well as governance. For high volume calculations, Optalitix Models can be scaled to increase the speed of models runs. For large calculations, this parallel processing can reduce the time taken by up to 90%.
