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ProVal Reserve Software from ProVal

Facilitates calculations for statutory and GAAP reserves with industry-standard methodologies. Offers flexibility for customization and an intuitive user interface.

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Product analysis by function

Reserve Analysis Systems for Actuarial Department

Software that helps actuaries calculate and monitor insurance reserves, ensuring the company maintains adequate funds to meet future claim obligations.
More Reserve Analysis Systems More Actuarial Department ...

Core Reserve Calculation
(4 Yes /4 Known /10 Possible features)

Data Handling and Integration
(3 Yes /3 Known /10 Possible features)

Reporting and Visualization
(3 Yes /3 Known /10 Possible features)

Governance and Auditability
(1 Yes /1 Known /10 Possible features)

Scenario and Sensitivity Analysis
(3 Yes /3 Known /10 Possible features)

User Experience (UX) and Accessibility
(2 Yes /2 Known /10 Possible features)

Collaboration and Workflow
(0 Yes /0 Known /10 Possible features)

Security and Privacy
(0 Yes /0 Known /10 Possible features)

Deployment and Scalability
(0 Yes /0 Known /10 Possible features)

Support and Vendor Services
(0 Yes /0 Known /10 Possible features)

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Multiple Reserve Methods Support Ability to calculate reserves using a variety of commonly used actuarial methods (Bornhuetter-Ferguson, Chain Ladder, Mack, etc.).		Product notes state support for industry-standard reserve methodologies; this implies methods such as Bornhuetter-Ferguson, Chain Ladder, Mack are available.
Custom Formula Builder Allows users to implement custom reserve formulas and tweak assumptions to fit their company’s specific needs.		Notes mention flexibility for customization, indicating users can implement custom reserve formulas.
Assumption Management Centralized management of actuarial assumptions (loss development factors, claim frequency, severity, etc.).		Facilitating calculations for statutory and GAAP reserves requires centralized management of actuarial assumptions.
Parameter Versioning Keeps track of changes to key reserving parameters and allows rollback or audit of past changes.		No information available
Reserve Adequacy Testing Capabilities for stress testing and scenario analysis to check the adequacy of reserves under varied conditions.		Industry-standard reserving software typically includes reserve adequacy testing such as stress tests and scenario analysis.
Bulk Valuation Runs Ability to process reserve calculations in bulk (e.g., many portfolios or lines at once).		No information available
Outlier Detection Flags or highlights unusual results or potential data quality issues in reserve calculations.		No information available
Speed of Calculation The time needed to complete a standard reserve calculation.		No information available
Calculation Capacity The number of concurrent reserve calculations the system can handle.		No information available
Granularity of Calculation The finest level of data (policy, claim, line of business, coverage) at which reserves can be calculated.		No information available

Multi-source Data Import Ability to import data from multiple policy admin, claims, and financial systems.		Ability to process statutory and GAAP reserves for different data types implies multi-source data import capabilities.
Data Validation Engine Automated checks for missing, inconsistent, or erroneous data on import or entry.		No information available
Data Mapping Tools Support for mapping incoming data fields to the system’s internal schema.		No information available
Historical Data Support Ability to store, retrieve, and analyze historical claim and reserve data back many years.		Reserve analysis systems usually store and analyze historical claim data as standard functionality.
Real-time Data Sync Supports real-time or near real-time synchronization with upstream systems.		No information available
APIs for External Integration Available APIs for integration with other enterprise systems (finance, reporting, ERP, etc.).		Integration with external general ledger and reporting systems is a common capability for this class of product.
Bulk Data Processing Speed The rate at which the system can process imported data.		No information available
Export Formats Supported Number of supported formats (CSV, Excel, JSON, etc.) for data export.		No information available
Data Retention Period The length of time historical data is retained in the system.		No information available
Data Anonymization Provides tools to anonymize sensitive policy or claim data before export or sharing.		No information available

Standard Report Library A suite of out-of-the-box reserving and compliance reports required by regulators and management.		Notes reference statutory and GAAP reporting, suggesting a library of standard reports for regulatory purposes is present.
Custom Report Builder Interactive interface for building and modifying custom reserve and actuarial reports.		The product is described as customizable, which commonly includes custom report builders.
Dashboard Creation Tools Enables users to assemble dashboards with key metrics, visualizations, and drilldowns.		Product is described as having an intuitive user interface, which typically means dashboard creation tools are available.
Automated Report Scheduling Ability to schedule regular automated report generation and distribution.		No information available
Interactive Data Visualization Allows users to interact with charts, graphs, and tables for deeper analysis.		No information available
Export to PDF/Excel/CSV Support for exporting reports and dashboards in common file formats.		No information available
Mobile Report Access Ability to securely access key reports via mobile devices.		No information available
User-level Access Controls Granular control over which users and teams can see or customize which reports.		No information available
Report Generation Speed Time taken to generate a standard report for a typical portfolio.		No information available
Concurrent Report Users The number of users who can simultaneously generate or view reports.		No information available

Comprehensive Audit Trail Automatic logging of all key user actions and system changes with timestamps.		No information available
Role-based Access Management Allows granular allocation of user rights and responsibilities.		No information available
Approval Workflow Support for multi-level approval processes for key changes to reserves or assumptions.		No information available
Regulatory Report Templates Pre-configured templates for regulatory reporting (e.g., Solvency II, IFRS 17, NAIC).		Product notes reference both statutory and GAAP compliance, suggesting support for regulatory reporting templates.
Change Log Retention Number of years audit logs are retained.		No information available
Assumption Change Notification Notifies stakeholders on critical model parameter and assumption changes.		No information available
SOX Compliance Support System supports controls and workflows relevant for Sarbanes-Oxley (SOX) compliance.		No information available
Automated Documentation Generates system documentation, especially for model changes or overrides.		No information available
External Auditor Access Special access modes for external auditors with read-only and export-limited permissions.		No information available
Control Dashboard Provides a dashboard for at-a-glance status on compliance and recent audit events.		No information available

Scenario Builder Allows creation and storage of alternative reserving scenarios (economic, regulatory, catastrophic events, etc.).		'Scenario analysis' is referenced in adequacy testing, indicating scenario builder features are present.
Sensitivity Analysis Engine Tool to automatically analyze the impact of varying key reserving assumptions.		Facilitating assumption changes and reserve analysis implies sensitivity analysis capability.
Scenario Run Speed The time needed to complete a scenario analysis run.		No information available
Concurrent Scenario Processing Number of scenarios that can be processed in parallel.		No information available
Scenario Visualization Tools Visualization tools for comparing the outcome of multiple scenarios.		Product described as offering flexibility and deep scenario analysis; scenario visualization is typical in such solutions.
Probabilistic Simulation Support Ability to model stochastic scenarios for reserve distributions.		No information available
Scenario Archive Ability to retain and retrieve prior scenarios for audit and reporting.		No information available
Key Assumption Overlay Visual overlay of key assumptions and their effect on different scenarios.		No information available
Impact Quantification Automated quantification of financial impact for each scenario.		No information available
User-defined Macroeconomic Variables Allows input of custom macroeconomic factors affecting scenarios.		No information available

Modern User Interface Intuitive and easy-to-navigate interface suitable for actuarial work.		Described as having an intuitive user interface, suggesting a modern, usable design.
Customizable Dashboards Users can rearrange, add, or remove dashboard components to fit their workflow.		Described as providing customization; customizable dashboards are a typical manifestation.
Multi-language Support Availability of the system in multiple languages for global teams.		No information available
Keyboard Shortcuts Provides productivity-enhancing shortcuts for frequent tasks.		No information available
Accessible Design WCAG and accessibility compliance for users with disabilities.		No information available
In-app Training Modules Onboarding and training resources embedded directly within the system.		No information available
User Feedback Loop In-system tools for users to log bugs and request improvements.		No information available
Mobile Responsive Interface Adapts layout and controls for mobile screens.		No information available
Customizable Themes Users can choose themes, colors, and font sizes for accessibility and comfort.		No information available
Page Load Speed How quickly the main dashboard loads under typical usage.		No information available

Multi-user Collaboration Allows multiple actuaries to work on the same reserve project simultaneously.		No information available
Commenting and Annotations Users can leave comments and annotations on specific calculations or data points.		No information available
Task Assignment and Tracking Workflow tools for assigning, tracking, and reviewing reserving tasks.		No information available
Version Control for Workbooks Automatic tracking and rollback of analysis files and models.		No information available
Change Notification System Automatic alerts to users when relevant changes are made by others.		No information available
Calendar Integration Supports integration with corporate calendars for deadline and milestone tracking.		No information available
Internal Messaging Built-in or integrated messaging platform for team discussions.		No information available
Workflow Templates Predefined templates for typical reserving processes to standardize best practice.		No information available
User Activity Heatmaps Visualize which parts of a workflow or project are most heavily used or modified.		No information available
Concurrent Users Supported Number of users who can simultaneously collaborate on workflows.		No information available

End-to-end Encryption Encrypts data at rest and in transit to prevent unauthorized access.		No information available
Single Sign-On (SSO) Supports integration with corporate identity and access management		No information available
Multi-factor Authentication Requires two or more verification steps for login.		No information available
IP Whitelisting Restricts logins to approved networks or devices.		No information available
Field-level Access Restrictions Controls which users see what data at the field-level.		No information available
Activity Monitoring System maintains detailed logs and alerts on suspicious activity.		No information available
Automated Backup Frequency Frequency of system backups to prevent data loss.		No information available
Ransomware Protection Protection against data encryption attacks and rapid recovery protocols.		No information available
GDPR/Privacy Compliance Supports data privacy standards such as GDPR, CCPA.		No information available
Secure Data Deletion Ensures permanent, auditable removal of data upon request.		No information available

Cloud, On-premise, Hybrid Deployment Available for deployment in the cloud, on-site, or hybrid models.		No information available
Elastic Compute Scaling Automatic scaling of compute resources based on demand.		No information available
Horizontal Scalability Limit Maximum number of concurrent nodes or instances supported.		No information available
Disaster Recovery Time Objective (RTO) Maximum expected time to restore service after major failure.		No information available
Zero-downtime Upgrades Supports system upgrades with no or minimal downtime.		No information available
Multi-region Deployment Support for deployment across multiple geographic regions.		No information available
API Throughput Sustained requests per second the API can process.		No information available
Automated Security Patch Management Automated deployment of security patches without user disruption.		No information available
Load Balancing Load automatically distributed to prevent overloads.		No information available
Supported Database Types Number of types of databases supported (SQL, NoSQL, etc.)		No information available

24/7 Technical Support Round-the-clock technical support via phone, chat, or ticketing.		No information available
Dedicated Account Manager Vendor provides a named person as primary point of contact.		No information available
User Community and Forums Access to user community for best practices and problem-solving.		No information available
Onsite Training Vendor-provided training at client location.		No information available
Online Knowledge Base Comprehensive searchable documentation and guides.		No information available
Regular Feature Updates Frequency with which new system features are released.		No information available
Implementation Services Help with onboarding, data migration, and system configuration.		No information available
Custom Feature Development Vendor offers or supports custom development for unique client needs.		No information available
SLAs for Issue Resolution Clear service-level agreements for how quickly issues are resolved.		No information available
Supported Localizations Number of supported languages/locales for documentation and support.		No information available

ProVal Reserve Software from ProVal

Product analysis by function

Reserve Analysis Systems for Actuarial Department

Core Reserve Calculation (4 Yes /4 Known /10 Possible features)

Data Handling and Integration (3 Yes /3 Known /10 Possible features)

Reporting and Visualization (3 Yes /3 Known /10 Possible features)

Governance and Auditability (1 Yes /1 Known /10 Possible features)

Scenario and Sensitivity Analysis (3 Yes /3 Known /10 Possible features)

User Experience (UX) and Accessibility (2 Yes /2 Known /10 Possible features)

Collaboration and Workflow (0 Yes /0 Known /10 Possible features)

Security and Privacy (0 Yes /0 Known /10 Possible features)

Deployment and Scalability (0 Yes /0 Known /10 Possible features)

Support and Vendor Services (0 Yes /0 Known /10 Possible features)