Manage insurance risk with a unified platform for actuarial modeling, risk management and reporting
Efficiency | Insight | Control
Comprehensive modeling technology for modern insurers
Growing risks and stricter regulations put insurers under pressure, elevating the need for powerful, comprehensive modeling technology to help increase profits, protect capital and keep money hard at work. FIS® Insurance Risk Suite – Prophet delivers the end-to-end capabilities needed to coordinate actuarial modeling, risk management and reporting across your enterprise.
Reduce complexity across cash flow, ALM and capital modeling
Coordinating cash flow, asset liability management (ALM) and capital modeling remains a challenge for life insurers. Insurance Risk Suite – Prophet allows you to run deterministic and stochastic scenarios and streamline experience analysis and assumption setting on a single platform. It also provides reporting to support compliance, including those related to IFRS 17, Solvency II and local GAAP, with a transparent audit trail.
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Elevate your risk modeling performance
General and P&C insurers face increasing pressure to provide faster, more precise forecasting and control of risk and capital. With prebuilt actuarial libraries, Insurance Risk Suite – Prophet helps generate results for financial statements, claim analysis, capital allotment, performance measurement, business planning, capital models and claims reserves.
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Streamline reinsurance for clearer, faster operations
Calculating and tracking reinsurance inefficiently can limit transparency, putting your operations and capital at risk. Insurance Risk Suite – Prophet lets you build and compare treaty structures quickly, access portfolio performance by layer and attachment, simulate tail risk and maintain valuation and reporting with strong governance, controls and auditability.
See detailsHow Insurance Risk Suite – Prophet drives high-performance actuarial modeling
- Parallel execution: Looped modules restructure actuarial models so large volumes of policy-level projections and stochastic simulations can run simultaneously.
- Vectorized processing: Model data is reorganized into vectors, enabling highly parallel computing instructions that accelerate calculations across large datasets.
- CPU and GPU performance: Scalable frameworks enable models to use vectorized CPUs, with AVX support, and GPU software for greater computational efficiency.
- Memory optimization: Structured workflows help manage GPU memory limits and allow teams to experiment with batch sizes and computing resource allocation to improve performance.
End-to-end actuarial modeling, risk management and reporting
Model and analyze complex risks across your enterprise in a governed, high-performance environment, on premises or in the cloud. With built-in regulatory and actuarial calculations, Insurance Risk Suite – Prophet helps strengthen reporting and enables better capital and business decisions.
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Professional services for confident, efficient actuarial operations
Insurance Risk Suite – Prophet is backed by the people who know it best. From setup to ongoing optimization, FIS expert consultants provide dedicated professional services to help you make the most of our solutions and strengthen your actuarial performance.
Advanced capabilities delivered continuously
We continually update our platform to help you manage and report risks more efficiently. This includes a chatbot-style AI assistant, predictive analytics that reveal risk impacts and cloud services for unified, scalable operations.
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High-performance actuarial modeling for speed and cost control
Insurers face increasing pressure to accelerate actuarial modeling without raising costs. With a choice of CPU and GPU technology, supported by looped modules, Insurance Risk Suite – Prophet provides the tools firms need to improve runtime and achieve cost-effective results.
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Learn more about how FIS can help you model and analyze complex enterprise risks with greater flexibility and control.
Insurance Risk Suite – Prophet
Flexible, user-friendly model management streamlines development, customization and auditing to better support diverse business needs
High-performance calculations enable efficient processing of high-volume data with minimal manual effort and operational risk
Integrated, highly automated ecosystem supports the entire modeling and reporting lifecycle, connecting models with downstream systems
Open, transparent architecture
Streamline calculations, automate model runs and enable transparency with open-code architecture while intuitive visualizations display assumptions, models and results on one screen.
Flexible processing environments
Execute complex simulations in a scalable, pay-as-you-go SaaS environment, supported by accelerated runtimes and performance gains through a choice of GPUs and CPIs with AVXs.
Integrated workflow automation
Automate result transfers between systems to reduce manual data sharing and reconciliation while accelerating complex processes and improving productivity, accuracy and control with an end-to-end workflow.
Risk and regulation management
Use prebuilt, updated core libraries to access all variables, actuarial definitions and complex formulas you need to build best-practice models and support Solvency II, IFRS 17 and U.S. GAAP LDTI standards.
End-to-end actuarial modeling, risk management and reporting
Designed to streamline model development and production, FIS® Insurance Risk Suite – Prophet combines actuarial modeling, risk management and regulatory compliance on a single, modular platform. It automates complex workflows and orchestrates end-to-end operations, from model development to analysis and results management.Model Developer
Modernize modeling and risk management
FIS® Model Developer (formerly Prophet Professional) enables you to build and maintain actuarial models with a dedicated environment for model design and management. Its wide selection of actuarial libraries provide coverage of product types and regulations globally and enable you to quickly build the models required by your business.
Enterprise Manager
Accelerate actuarial modeling in a controlled environment
FIS® Enterprise Manager (formerly Prophet Enterprise) provides a powerful and controlled multiuser production environment for actuarial modeling in the cloud or on premises. With a scalable engine and an intelligent job scheduler, you can optimize performance and provide a clearer audit trail from every calculation to the data and assumptions that underpin it. Integrated APIs and scripting capabilities within Enterprise Manager also help streamline large-scale processes, automate workflows and support regulatory audit requirements.
Optional Assumptions Management
Optimize assumption management workflows
FIS® Operational Assumptions Management module enables greater control over the processes that feed critical values into Insurance Risk Suite – Prophet. With role-based access control, it enables you to manage tables and assumptions for every model run in an auditable, enterprise-level environment that helps minimize errors.
Production Manager
Scale actuarial processes in the cloud
FIS® Production Manager enables you to harness the scale and efficiency of cloud computing by streamlining actuarial processes with a SaaS solution for model development, reporting and risk management. It also lets you pay only for what you use while accelerating large-scale workloads with speed, flexibility, streamlined workflows and lower costs.
Process Orchestrator
Streamline actuarial modeling operations
FIS® Process Orchestrator helps automate complex workflows with highly configurable tools. It allows you to define processes within Insurance Risk Suite – Prophet and control other financial reporting systems with FIS® Process Manager, enabling end-to-end process automation.
Data Integration
Enhance end-to-end risk data management
FIS® Data Integration helps support smooth data flow across actuarial models, BI tools and regulatory systems. This data repository solution lets you organize results for business meaning or regulatory submissions, such as IFRS 17, and integrate with external database platforms.
Flexible Results
Gain more control over model results production
FIS® Flexible Results lets you produce granular results efficiently, aggregate them at required levels, such as an IFRS 17 unit of account, and deliver them to downstream systems. With API-driven access, custom queries and integration with dashboards and BI tools, you can reduce manual data handling, accelerate reporting and improve scalability and automation.
Quality Assurance
Drive trustworthy test case management
FIS® Quality Assurance helps maintain model integrity by automating detailed comparisons between every set of results. It allows you to filter test results by product, accumulation and run for better control and auditing of development cycles, reducing the risks and costs associated with model and system changes.
What's new
AI assistant
Access real-time guidance with a built-in, chatbot-style AI assistant that answers questions, supports model operation and maintenance, and simplifies how users learn and navigate our software.
Predictive analytics
Powered by machine learning algorithms, predictive analytics reveals the impact of risk factors on pricing, reserves and claims to deliver clearer insights, better forecasts and lower operational costs.
Cloud services
Scale and adapt more easily with an integrated cloud model that brings together managed cloud services and SaaS flexibility in one unified experience.
CPU, GPU and looped modules
Run modeling workloads efficiently on GPUs and CPUs with AVX support, paired with our looped modules solution to restructure data into vectors for parallelized, high-performance computing.
FIS General Insurance Reserving Interface
Enable faster, more transparent reserving with an intuitive, user-friendly interface that helps insurers compare results quickly and make informed decisions with clear actuarial code.
Stay connected, stay informed
Access the FIS Client Portal to monitor alerts, connect with client services and access important resources – all while taking advantage of new features added on an ongoing basis.
Resources
Insurance Risk Suite – Prophet product sheet
Transform modeling, risk management and reporting with AI-powered, cloud-native capabilities that help streamline operations and support evolving regulatory demands.
Insurance Risk Suite – GI Edition product sheet
Optimize risk modeling and business planning for general and P&C insurers with greater efficiency and reduced risk.
Production Manager product sheet
Modernize your actuarial and risk management processes and handle growing computational demands without a large, inflexible compute grid in your IT systems.
Insurance Risk Suite – Predictive Analytics for fraud modeling product sheet
Anticipate risks earlier with predictive analytics and actuarial rigor that help detect fraud exposure, strengthen operational control and improve efficiency, revenue performance and growth.
Insurance Risk Suite – Predictive Analytics for pricing product sheet
Uncover risk factors with greater precision through predictive models that enable faster decisions, protect profitability and deliver actionable insights with transparent analytics.
3 reasons you need an AI assistant for insurance risk management trend sheet
Enhance actuarial modeling with advanced risk management and reporting tools, empowered by an AI assistant that helps insurers quantify exposure and act faster.
High-performance actuarial modeling case study
Understand actuarial modeling uses cases that demonstrate how CPU and GPU processing technology helps insurers optimize runtime, manage costs and support complex risk calculations.
Modernize reserving for incurred claims infographic
Replace manual processes with an automated approach to data management, calculations, configuration, control, reviews and analysis.
Actuarial modeling report
Created with FIS, this InsuranceERM report highlights trends in advanced technology, such as AI and the cloud, transforming actuarial systems, processes and efficiency.
FAQ
What do actuaries need most from a modeling system?
Actuaries want to be able to strike a balance between making models faster and cheaper to run and being able to access a wide range of rich, user-friendly features and capabilities.
How is actuarial modeling technology evolving?
Advancements in technology are driving a more sophisticated approach to risk modeling, which is not only improving automation, but also processing power and data management and analytics. As a result, insurers are better able to reduce cost and risk, drive insight and scale rapidly to changing reporting demands.
How can AI and machine learning help transform actuarial modeling?
AI can play a major role in reducing actuarial labor costs and making actuaries more efficient. For example, built-in chatbots can make software easier to use by responding instantly to user queries. Predictive analytics solutions also help in predicting future outcomes in the lifecycle of policies.
What can enhance the power and performance of modeling systems?
Evolving computer chip technology can help actuaries reduce runtime and computing costs. Along with CPUs, GPUs are now demonstrating their suitability to power certain actuarial calculations and support high-performance calculations, with looped modules also driving parallelized computing instructions.
What are the benefits of running actuarial models in the cloud?
Cloud-native technology helps make modeling solutions more scalable, secure and efficient. SaaS systems help actuaries improve workload efficiency and create, analyze and store more granular data without wasting time and resources maintaining software or scaling hardware to shifting reporting demands.
Which tools are most effective at reducing actuarial modeling costs?
It's less about which individual tools help reduce costs and more about gaining a complete, holistic view of your technology spend. The priority is lowering your total cost of ownership with powerful technology that helps deliver savings across your modeling operations.
Let's keep our conversation going
Learn more about how FIS can help you model and analyze complex enterprise risks with greater flexibility and control.