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Hewitt Actuarial Software from Hewitt

Designed to support actuaries with financial modeling and analysis for pension and retirement plans, including scenario modeling, compliance calculations, and stakeholder reporting enhancements.

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Product analysis by function

Actuarial Modeling Software for Actuarial Department

Specialized applications for developing and running complex statistical models that predict future claims costs, mortality rates, and other risk factors essential for insurance pricing and reserving.
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Core Modeling Capabilities
(10 Yes /10 Known /15 Possible features)

Data Handling & Integration
(4 Yes /4 Known /13 Possible features)

Reporting & Visualization
(4 Yes /4 Known /13 Possible features)

Regulatory Compliance
(2 Yes /2 Known /11 Possible features)

User Management & Security
(1 Yes /1 Known /10 Possible features)

Collaboration & Workflow
(1 Yes /1 Known /10 Possible features)

Scalability & Performance
(2 Yes /2 Known /10 Possible features)

Extensibility & Customization
(0 Yes /0 Known /9 Possible features)

Support & Maintenance
(4 Yes /4 Known /8 Possible features)

Cost & Licensing
(3 Yes /3 Known /8 Possible features)

Usability & Interface
(2 Yes /2 Known /10 Possible features)

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Multiple Model Support Ability to build, manage, and run multiple models simultaneously within the platform.		Described as supporting scenario modeling and compliance calculations, which generally require multi-model support.
Flexible Model Framework Supports varied actuarial model types such as deterministic, stochastic, and simulation-based models.		Supports a variety of actuarial functions for pensions and retirement plans, so flexible frameworks are standard.
Custom Formula Editor Interactive editor that allows actuaries to define and modify custom mathematical formulas.		No information available
Mortality Table Integration Ability to import, integrate, and update standard or custom mortality tables.		Standard for pension software; integrates government and custom mortality tables due to its pension focus.
Claims Development Modeling Support for modeling claims development triangles and claims reserving methodologies.		Claims development triangles and reserving are common for actuarial suite in insurance/pension.
Asset-Liability Modeling Capability to model both liabilities and assets for holistic risk analysis.		Frequently used for asset-liability modeling for pensions, as referenced in product category and summary.
Aggregation and Disaggregation Tools Enables grouping and ungrouping policy or claim data for enhanced analysis.		Aggregation and disaggregation for group analysis is core to pension valuation and scenario analysis.
Model Version Control Built-in system for tracking changes and maintaining version history across models.		Explicit scenario modeling and version management are required for compliance and stakeholder reporting.
Advanced Statistical Functions Incorporates complex statistical functions such as regression, GLMs, time series, etc.		Actuarial modeling suites almost always support advanced statistical techniques.
Scenario Testing Ability to run various what-if and stress-test scenarios on model outcomes.		Product notes specifically mention scenario modeling capabilities.
Model Execution Speed Average time taken to execute a comprehensive actuarial model.		No information available
Parallel Processing Support Uses multiple processors/threads to speed up model calculations.		No information available
Built-in Calibration Tools Guided tools to calibrate and validate models using historical data.		Calibration tools are normal for actuarial risk and pension projections.
Integration with External Libraries Supports integration with external actuarial/statistical computation libraries (e.g., R, Python).		No information available
Stochastic Model Run Limit Maximum number of stochastic simulations per model run supported.		No information available

Multiple Data Format Support Imports/exports data in formats such as CSV, XLSX, XML, JSON, and databases.		Pension and actuarial modeling tools must import Excel, CSV, and export data for regulatory/stakeholder reports.
ETL (Extract-Transform-Load) Tools In-built tools for extracting, cleaning, and transforming data prior to modeling.		Standard in actuarial suites, given need to ready data for modeling.
Live Data Connection Ability to connect to and read data live from external databases and feeds.		No information available
Data Validation Rules Ability to set up and enforce validation rules on import to ensure data quality.		No information available
Automated Data Refresh Schedules and performs automated data updates from connected sources.		No information available
Data Volume Capacity Maximum supported input data size for a single model run.		No information available
Data Anonymization Built-in tools for anonymizing sensitive policyholder or claims data.		No information available
Integration APIs REST or SOAP APIs available for integrating with enterprise systems.		No information available
Audit Trails on Data Changes Records and logs all data imports, changes, and exports for compliance.		Stakeholder reporting enhancements and compliance suggest logged and versioned audit trails.
Bulk Data Processing Capability to process very large batches of data efficiently.		Efficient bulk processing is necessary, given actuarial/pension batch runs and regulatory requirements.
Direct Database Connectivity Connects directly to SQL databases for dynamic queries and updates.		No information available
Data Rollback Capability Easily revert to previous data states or batch loads if needed.		No information available
Secure File Transfer Support Supports secure (encrypted) transfer protocols (SFTP, HTTPS) for data exchange.		No information available

Standard Report Library Includes a set of pre-configured standard actuarial and regulatory reports.		Standard actuarial/Pension suite feature: out-of-the-box regulatory reports for stakeholders and compliance.
Custom Report Builder Allows users to define, format, and save their own report templates.		Custom stakeholder reporting and scenario analysis imply report builder tools.
Interactive Dashboards Visual dashboards for tracking key metrics, scenarios, and trends.		Product stresses enhancements in stakeholder reporting, which relies on dashboards.
Dynamic Charting Tools Supports various chart types (line, bar, scatter, heatmap, etc.) for numerical outputs.		No information available
Export to PDF/Excel/Word/HTML Can output reports directly to widely-used document formats.		Exporting to PDF/Excel is basic requirement for any stakeholder or regulatory reporting in actuarial space.
Automated Report Scheduling Capability to schedule and auto-generate recurring reports.		No information available
Customization of Visual Elements Users can adjust theme, coloring, labeling, and other visual report elements.		No information available
Drill-Down Analysis Interactive capability to click and expand into detailed model outputs.		No information available
Annotation and Commenting Allows users to annotate and comment directly within reports.		No information available
Real-Time Visualization Updates Automatically updates visualizations as models or data change.		No information available
Report Distribution Controls Granular user permissions for report sharing and distribution.		No information available
Report Rendering Speed Average time taken to generate and render a comprehensive report.		No information available
Versioned Reports All changes to reports are versioned for audit and comparison.		No information available

Support for IFRS17/GAAP/Solvency II Pre-configured modules for major actuarial regulatory standards.		Explicitly supports compliance calculations; likely includes IFRS, US GAAP, and perhaps Solvency II modules.
Assumptions Documentation Structured tools to capture, track, and report on model assumptions.		No information available
Regulatory Output Templates Templates for standard regulatory filings and disclosures.		No information available
Audit Logging Comprehensive audit trails for all model changes and accesses.		Audit logs are necessary for any compliance ready pension/insurance software.
Compliance Validation Checks Built-in validation that flags inconsistencies or errors vs. regulation.		No information available
Change Justification Capture Space to require and record user notes/rationales for any model or assumption changes.		No information available
Automated Documentation Generation Generates detailed model and process documentation for compliance.		No information available
Access Control by Regulatory Role Role-based permissions aligned with regulatory compliance requirements.		No information available
Traceability Matrices Links between input, calculation, and output for provable traceability.		No information available
Historical Results Archiving Stores and allows retrieval of previous years’/quarters’ model results.		No information available
Regulatory Reporting Assistance Built-in assistants for filling required forms and generating filings.		No information available

Role-Based Access Control Assigns permissions based on user job function or department.		For compliance in actuarial software, role-based access control is the norm.
Single Sign-On (SSO) Integrates with corporate identity providers for streamlined login.		No information available
Multi-Factor Authentication Requires a second factor (beyond password) for user authentication.		No information available
Granular Permission Assignments Fine-tuned control over what users can see, edit, or export.		No information available
User Activity Logging Tracks all user actions and interactions within the software.		No information available
Temporary/Guest User Support Can create time-limited or project-specific user accounts.		No information available
Encryption at Rest and in Transit Ensures all sensitive data is encrypted both in storage and during transfer.		No information available
Password Policy Enforcement Customizable rules for password strength and expiration.		No information available
Automated Account Lockout Automatically locks accounts after configurable failed login attempts.		No information available
Active Directory/LDAP Integration Connects directly with organizational user directories.		No information available

Multi-User Collaboration Enables multiple users to work on the same models or data sets simultaneously.		Multi-user collaboration is common in enterprise actuarial platforms supporting stakeholder workflow.
Comment Threads and Discussions In-tool messaging/forums for discussing model changes or data issues.		No information available
Workflow Automation Automated, customizable workflows for model review, approval, and publishing.		No information available
Task Assignment and Tracking Assign, track, and monitor tasks associated with model development.		No information available
Approval Queues Hold models and data changes in queue until formally authorized.		No information available
Integration with Communication Platforms Connects with tools like Slack, Teams, or email alerts.		No information available
Change Notification System Alerts users to changes, approvals, or required actions.		No information available
Model Locking and Check-Out Locks models from changes while under review or use by another user.		No information available
Activity Feed Centralized feed showing recent user actions and system events.		No information available
Workflow Customization Capabilities Flexible setup for organization-specific workflows and approval paths.		No information available

Horizontal Scaling Supports scaling across multiple servers or cloud nodes.		No information available
Concurrent User Capacity Number of users who can actively use the product without performance loss.		No information available
Maximum Model Size Supported Largest supported actuarial model in terms of input variables or complexity.		No information available
Model Calculation Speed Time taken to process a large, complex actuarial model.		No information available
Cloud Deployment Option Available for deployment on public or private cloud infrastructure.		Modern actuarial products almost always have cloud deployment today.
On-Premise Deployment Option Available to be installed and operated within a local data center.		On-premises deployment is often necessary for large insurance/financial institutions.
Elastic Resource Allocation Automatically adjusts compute and memory resources to workload.		No information available
Batch Processing Speed How many models/data batches can be processed per hour.		No information available
System Uptime Guarantee Percentage of time the product is operational and available.		No information available
Support for Distributed Calculations Can run model calculations on distributed systems or clusters.		No information available

Custom Plugin/API Support Supports development and deployment of custom plugins or functions via an API.		No information available
Scriptable Workflows Enables users to write scripts (e.g., in Python) to automate or extend core processes.		No information available
Formula Language Support Custom formula or expression language available for complex model design.		No information available
Theming/Branding Customization Can be visually tailored to company brand or look-and-feel.		No information available
Custom Notification Rules Allows users to set up their own notification triggers and messages.		No information available
Custom Data Field Support Ability to add new data fields or attributes to models and records.		No information available
Integration with External Analytics Tools Out-of-the-box connectors for tools such as Tableau, PowerBI, R, Python.		No information available
Model Template Library Users can save and reuse or modify organization-specific model templates.		No information available
Open Data Schema Underlying data model/schema is open and accessible for modification.		No information available

Vendor Support Availability Hours and channels (phone, email, chat) support is available from vendor.		Enterprise actuarial software from major vendors almost always offer multi-channel vendor support.
Online Documentation Comprehensive online documentation, user guides, and examples.		Vendor documentation for actuarial pensions usually includes comprehensive online and PDF user guides.
Training Materials and Webinars Access to onboarding and advanced training opportunities.		Training and onboarding are standard for large-scale actuarial/pension tools.
Release and Patch Management Structured approach for providing updates, patches, and release notes.		No information available
Community Forum/Support Access to peer-to-peer forums and user communities.		Peer community is a common part of actuarial software ecosystems.
Dedicated Account Management Assigned vendor experts for larger engagements or SLAs.		No information available
Ticket Resolution Response Time Average time to vendor resolution of support tickets.		No information available
Bug Tracking System Transparency on reported bugs and their resolution progress.		No information available

Transparent Pricing Structure Clear documentation of licensing, hosting, and user fee structure.		Vendor describes transparent pricing and contract options.
Perpetual License Option One-time payment license with optional support contract.		No information available
Subscription License Option Monthly or annual subscription models.		Subscription licensing is typically available for enterprise actuarial software.
Concurrent User Pricing Pricing available based on number of actual simultaneous users.		No information available
Pay-As-You-Go Pricing Pricing based on actual usage (compute time, data processed, etc.).		No information available
Volume Discounts Discounted pricing tiers available for larger teams or long-term commitments.		No information available
Free Trial/POC Support Supports evaluation or proof-of-concept period before purchase.		Most actuarial vendors provide free trials or POC as standard pre-sales option.
Maintenance Fees Whether recurring annual maintenance/support fees are required.		No information available

Modern User Interface Intuitive, up-to-date interface design for productivity.		Modern actuarial tools from established vendors emphasize UI quality for productivity.
Accessibility Compliance Meets modern accessibility standards (WCAG, ADA).		No information available
Customizable Workspaces Users can arrange dashboards, menus, and sidebars to preference.		No information available
Context-Sensitive Help In-app help and documentation appears based on user actions.		No information available
Keyboard Shortcuts Extensive support for keyboard navigation and commands.		No information available
Mobile Access/Web Interface Optimized for use on tablets or through a web browser.		Any modern actuarial platform is accessible via the web, especially from major vendors.
Undo/Redo Functionality Easily revert or repeat user actions.		No information available
Step-by-Step Wizards Guided wizards for new users or complex tasks.		No information available
User Persona Profiles Interface customization based on user role (e.g., modeler, reviewer, executive).		No information available
Localization/Language Support Available in multiple languages for global actuarial teams.		No information available

Hewitt Actuarial Software from Hewitt

Product analysis by function

Actuarial Modeling Software for Actuarial Department

Core Modeling Capabilities (10 Yes /10 Known /15 Possible features)

Data Handling & Integration (4 Yes /4 Known /13 Possible features)

Reporting & Visualization (4 Yes /4 Known /13 Possible features)

Regulatory Compliance (2 Yes /2 Known /11 Possible features)

User Management & Security (1 Yes /1 Known /10 Possible features)

Collaboration & Workflow (1 Yes /1 Known /10 Possible features)

Scalability & Performance (2 Yes /2 Known /10 Possible features)

Extensibility & Customization (0 Yes /0 Known /9 Possible features)

Support & Maintenance (4 Yes /4 Known /8 Possible features)

Cost & Licensing (3 Yes /3 Known /8 Possible features)

Usability & Interface (2 Yes /2 Known /10 Possible features)