AXIS is a comprehensive actuarial modeling system for life insurance companies, that provides a complete and seamless integration of pricing, valuation and modeling.
AXIS combines unparalleled flexibility with a user-friendly interface which is ready-to-go right out of the box; no programming skills required. Comprehensive user training and ongoing support is provided through classroom instruction, self-paced learning tools, context-sensitive help and dedicated GGY support staff.
AXIS incorporates advanced technology with unique database management functionality and scaleable architecture for optimum speed, yet operates on industry standard PC's and servers.
AXIS is based on a single system philosophy: one system for all users to ensure integrity, validity and consistency of results, both between different users, and from year to year. AXIS is over 20 years old, yet is designed to meet both today's needs and tomorrow's challenges, because it is continually being enhanced by a team of dedicated professionals.
AXIS is currently used in many countries around the world; it supports calculation of policy reserves on up to six different reserve methods and/or assumption bases simultaneously, including US GAAP, US Statutory, and Canadian GAAP/Statutory, and is well positioned to support Principles-Based Reserving and future international GAAP standards as they emerge. It is currently used for various solvency-related functions, including Canadian MCCSR, US RBC (including C-3 Phase II analysis), stochastic analysis of guarantees in both US VA's and Canadian Segregated funds, and calculations of economic capital.
AXIS is designed in separately licensed modules, which allow each system's cost to be appropriate to the functionality provided and business units served. But the software is delivered and installed with one simple executable, which provides a common user interface to access all modules, and a consistency of design and usage throughout that simplifies learning and ensures smooth development of total company models.
The entry point to using AXIS is usually at the Cell level; Cells in AXIS permit modeling of simple or complex insurance or annuity products, and invested assets, and examining modeled results on both a policy year basis for pricing analysis or model validation, and on a calendar year basis, suitable for realistic and detailed financial projections for up to 100 years, or for valuation supporting current period financial reporting. Calendar year reports generated by Cells can be driven by simplified models of inforce business or projected sales, or by detailed seriatim files of actual business extracted from administration systems. Cell projections are aggregated and refined through a multi-level hierarchy that enables the combination of assets and liability cashflows, the reinvestment of positive and negative cashflows to match actual reinvestment practice, the calculation of income taxes and required and free surplus, and a host of other analytic applications, including sources of earnings, economic capital, embedded value, and more.
AXIS is a powerful, user-friendly tool that can provide massive amounts of information for management use. Click on AXIS Benefits for further explanation of what AXIS can do for you.
But great software is not all you get with AXIS. The complete package includes not only regular and ongoing updates to AXIS but also the dedicated support of friendly GGY staff, all of whom are committed to making your experience with AXIS the best it can be. Read about AXIS Maintenance features for more information.
AXIS is a vendor maintained system offering users the security of locked code. This has numerous benefits but has also necessitated that both flexibility and transparency be addressed as key requirements of the system. Additional information on how AXIS has addressed these issues can be found in the corresponding linked pages AXIS Flexibility and AXIS Transparency.