Solvency tools
Practical tools for Solvency II and more
Arcturus’ actuaries work with modern tools for Solvency II applications. We use Arcturus Tools for the work outsourced by our clients. The Solvency Tool and the ORSA Tool are also available under license for use in your organization. All tools undergo regular improvements and follow regulatory updates.
Technical Provisions - Arcturus Best Estimate Tool
For non-life insurance, we model the Best Estimate provisions in the Arcturus Best Estimate Tool. With this tool, we determine both the claims reserves and premium provisions, based on analysis, user-selectable assumptions and model choices.
The output of the tool contains balance sheet items, comparisons, detailed BE cash flows and part of the output for QRTs S.29.03 and S.29.04, part of the mandatory quantitative reporting to DNB.
The tool can be integrated into your business processes. Arcturus already did that in its own process. An example of this is that the BE cash flows from the Arcturus Best Estimate Tool can be copied one-on-one in the Arcturus Solvency Tool.
Curious about the possibilities of the Arcturus Best Estimate Tool? Please contact Arcturus.
SCR - Arcturus Solvency Tool
Arcturus can offer customized service and integrate the tool into your business processes. The Arcturus Solvency Tool also contains the output tabs with the Quantitative Reporting Templates (QRTs). After the model run, you have directly recorded the annual QRTs for solo insurers to be checked by the accountant as well as all quarterly QRTs to be submitted to the supervisor.
Arcturus has a licence with an external XBRL producer (ParsePort) so that the XBRLs can also be produced from the Arcturus Solvency Tool. This process is further explained under the heading ‘XBRL reporting solution’.
Please contact Arcturus for the Solvency Tool.
XBRL reporting solution
In the reporting process, the output of the Solvency tool is also required in XBRL format. Arcturus uses ParsePort’s XBRL tool to create an XBRL. The ParsePort solution can be used independently or integrated with the Arcturus Solvency Tool. For questions about ParsePort, please contact solvency@arcturus.nl or Arcturus.
Valuation of mortgages
Accounting on market value is not at all easy for a real estate portfolio. Arcturus has developed a mortgage tool that uses market parameters in modeling a market value for your mortgage portfolio. This tool is specifically intended for individual mortgages in the investment portfolio. Please contact Arcturus. We will be happy to help you with this tool.
200 meter radius risk tool
Solvency II asks non-life insurers to calculate the catastrophe risk for natural disasters and for ‘man-made’ disasters. The part of man-made fire risk is difficult: the greatest accumulated risk in the portfolio must be determined within a radius of 200 meters. The Arcturus 200-meter Tool does this for you. The maximum exposure of an insurance portfolio is determined with the location details in the policy records, within all possible radii of 200 meters (in the Netherlands). This tool eliminates the need for approximations and can be easily applied to your portfolio.
Please contact Arcturus when we can help you with this.
ORSA Projection Tool
Arcturus has developed a model for the non-life insurer to make ORSA scenario projections. These projections are part of the Solvency II framework and provide insight into the effects on the solvency position after unexpected events. Arcturus has already predefined a number of extreme events for this. The non-life insurer can apply this and specify it at its own discretion. The tool is very flexible in picking the most important risks within the own organization.
One of the scenarios is the climate scenario. To this end, Arcturus has already conducted research into the effects that fire insurers must take into account. We advise you on how to deal with this proactively and we help you to incorporate climate scenarios for your insurance portfolio. Please contact Arcturus. We will be happy to help you with this tool.
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Pricing with GLM
Operationally, GLM analyses are widely used in the pricing of non-life insurance. Arcturus is familiar with this matter and has developed a number of tools that we can easily adapt to your specific needs in a pricing project. Please contact Arcturus for more information about the GLM analysis tools we use.