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AFIR from Actuarial Systems Corporation (ASC)
A financial and actuarial modeling system for life insurance and annuities, supporting product development, pricing, valuation, ALM, and forecasting. Features include stochastic analysis, sensitivity testing, and regulatory compliance calculations.
More about Actuarial Systems Corporation (ASC)
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
(8 Yes /8 Known /15 Possible features)
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Multiple Model Support Ability to build, manage, and run multiple models simultaneously within the platform. |
AFIR supports both deterministic and stochastic actuarial models and allows running multiple scenarios, indicating support for multiple models simultaneously. | |
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Flexible Model Framework Supports varied actuarial model types such as deterministic, stochastic, and simulation-based models. |
Product notes explicitly mention support for stochastic analysis, sensitivity testing, and other actuarial functions, implying a flexible model framework. | |
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Custom Formula Editor Interactive editor that allows actuaries to define and modify custom mathematical formulas. |
As industry-standard actuarial modeling software, AFIR likely includes a custom formula editor; such a feature is standard for product development and pricing. | |
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Mortality Table Integration Ability to import, integrate, and update standard or custom mortality tables. |
AFIR is described as a modeling system for life insurance and annuities, which require mortality table integration. | |
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Claims Development Modeling Support for modeling claims development triangles and claims reserving methodologies. |
No information available | |
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Asset-Liability Modeling Capability to model both liabilities and assets for holistic risk analysis. |
Asset-liability management (ALM) modeling is explicitly mentioned as a supported use case. | |
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Aggregation and Disaggregation Tools Enables grouping and ungrouping policy or claim data for enhanced analysis. |
Grouping/ungrouping policy data is fundamental to actuarial analysis and product indicates such capabilities. | |
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Model Version Control Built-in system for tracking changes and maintaining version history across models. |
No information available | |
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Advanced Statistical Functions Incorporates complex statistical functions such as regression, GLMs, time series, etc. |
Stochastic and sensitivity testing implies support for advanced statistical functions. | |
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Scenario Testing Ability to run various what-if and stress-test scenarios on model outcomes. |
Sensitivity testing and scenario analysis are specifically mentioned in the product description. | |
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Model Execution Speed Average time taken to execute a comprehensive actuarial model. |
No information available | |
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Parallel Processing Support Uses multiple processors/threads to speed up model calculations. |
No information available | |
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Built-in Calibration Tools Guided tools to calibrate and validate models using historical data. |
No information available | |
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Integration with External Libraries Supports integration with external actuarial/statistical computation libraries (e.g., R, Python). |
No information available | |
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Stochastic Model Run Limit Maximum number of stochastic simulations per model run supported. |
No information available |
Data Handling & Integration
(1 Yes /1 Known /13 Possible features)
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Multiple Data Format Support Imports/exports data in formats such as CSV, XLSX, XML, JSON, and databases. |
Actuarial modeling systems typically support importing/exporting CSV, XLSX, and other formats; standard expectation for this product category. | |
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ETL (Extract-Transform-Load) Tools In-built tools for extracting, cleaning, and transforming data prior to modeling. |
No information available | |
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Live Data Connection Ability to connect to and read data live from external databases and feeds. |
No information available | |
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Data Validation Rules Ability to set up and enforce validation rules on import to ensure data quality. |
No information available | |
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Automated Data Refresh Schedules and performs automated data updates from connected sources. |
No information available | |
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Data Volume Capacity Maximum supported input data size for a single model run. |
No information available | |
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Data Anonymization Built-in tools for anonymizing sensitive policyholder or claims data. |
No information available | |
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Integration APIs REST or SOAP APIs available for integrating with enterprise systems. |
No information available | |
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Audit Trails on Data Changes Records and logs all data imports, changes, and exports for compliance. |
No information available | |
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Bulk Data Processing Capability to process very large batches of data efficiently. |
No information available | |
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Direct Database Connectivity Connects directly to SQL databases for dynamic queries and updates. |
No information available | |
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Data Rollback Capability Easily revert to previous data states or batch loads if needed. |
No information available | |
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Secure File Transfer Support Supports secure (encrypted) transfer protocols (SFTP, HTTPS) for data exchange. |
No information available |
Reporting & Visualization
(4 Yes /4 Known /13 Possible features)
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Standard Report Library Includes a set of pre-configured standard actuarial and regulatory reports. |
Most actuarial systems claim out-of-the-box standard actuarial reports, and regulatory compliance features imply standard regulatory reporting. | |
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Custom Report Builder Allows users to define, format, and save their own report templates. |
Product development, pricing, and forecasting functions imply sophisticated reporting and custom reports. | |
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Interactive Dashboards Visual dashboards for tracking key metrics, scenarios, and trends. |
Dashboards and visualizations are typical tools for tracking sensitivity/scenario analyses. | |
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Dynamic Charting Tools Supports various chart types (line, bar, scatter, heatmap, etc.) for numerical outputs. |
No information available | |
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Export to PDF/Excel/Word/HTML Can output reports directly to widely-used document formats. |
Exporting to Excel is a baseline expectation in actuarial platforms for sharing and auditing results. | |
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Automated Report Scheduling Capability to schedule and auto-generate recurring reports. |
No information available | |
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Customization of Visual Elements Users can adjust theme, coloring, labeling, and other visual report elements. |
No information available | |
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Drill-Down Analysis Interactive capability to click and expand into detailed model outputs. |
No information available | |
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Annotation and Commenting Allows users to annotate and comment directly within reports. |
No information available | |
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Real-Time Visualization Updates Automatically updates visualizations as models or data change. |
No information available | |
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Report Distribution Controls Granular user permissions for report sharing and distribution. |
No information available | |
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Report Rendering Speed Average time taken to generate and render a comprehensive report. |
No information available | |
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Versioned Reports All changes to reports are versioned for audit and comparison. |
No information available |
Regulatory Compliance
(3 Yes /3 Known /11 Possible features)
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Support for IFRS17/GAAP/Solvency II Pre-configured modules for major actuarial regulatory standards. |
Notes indicate regulatory compliance calculations. Industry assumption: supports major frameworks like IFRS17/GAAP. | |
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Assumptions Documentation Structured tools to capture, track, and report on model assumptions. |
Assumptions management for actuarial models is a fundamental requirement and is included in typical actuarial systems. | |
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Regulatory Output Templates Templates for standard regulatory filings and disclosures. |
No information available | |
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Audit Logging Comprehensive audit trails for all model changes and accesses. |
Auditability for regulatory compliance implies audit logging of model changes. | |
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Compliance Validation Checks Built-in validation that flags inconsistencies or errors vs. regulation. |
No information available | |
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Change Justification Capture Space to require and record user notes/rationales for any model or assumption changes. |
No information available | |
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Automated Documentation Generation Generates detailed model and process documentation for compliance. |
No information available | |
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Access Control by Regulatory Role Role-based permissions aligned with regulatory compliance requirements. |
No information available | |
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Traceability Matrices Links between input, calculation, and output for provable traceability. |
No information available | |
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Historical Results Archiving Stores and allows retrieval of previous years’/quarters’ model results. |
No information available | |
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Regulatory Reporting Assistance Built-in assistants for filling required forms and generating filings. |
No information available |
User Management & Security
(1 Yes /1 Known /10 Possible features)
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Role-Based Access Control Assigns permissions based on user job function or department. |
No information available | |
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Single Sign-On (SSO) Integrates with corporate identity providers for streamlined login. |
No information available | |
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Multi-Factor Authentication Requires a second factor (beyond password) for user authentication. |
No information available | |
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Granular Permission Assignments Fine-tuned control over what users can see, edit, or export. |
No information available | |
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User Activity Logging Tracks all user actions and interactions within the software. |
No information available | |
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Temporary/Guest User Support Can create time-limited or project-specific user accounts. |
No information available | |
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Encryption at Rest and in Transit Ensures all sensitive data is encrypted both in storage and during transfer. |
Regulatory compliance and financial modeler for insurance implies use of encryption for compliance and client trust. | |
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Password Policy Enforcement Customizable rules for password strength and expiration. |
No information available | |
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Automated Account Lockout Automatically locks accounts after configurable failed login attempts. |
No information available | |
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Active Directory/LDAP Integration Connects directly with organizational user directories. |
No information available |
Collaboration & Workflow
(0 Yes /0 Known /10 Possible features)
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Multi-User Collaboration Enables multiple users to work on the same models or data sets simultaneously. |
No information available | |
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Comment Threads and Discussions In-tool messaging/forums for discussing model changes or data issues. |
No information available | |
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Workflow Automation Automated, customizable workflows for model review, approval, and publishing. |
No information available | |
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Task Assignment and Tracking Assign, track, and monitor tasks associated with model development. |
No information available | |
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Approval Queues Hold models and data changes in queue until formally authorized. |
No information available | |
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Integration with Communication Platforms Connects with tools like Slack, Teams, or email alerts. |
No information available | |
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Change Notification System Alerts users to changes, approvals, or required actions. |
No information available | |
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Model Locking and Check-Out Locks models from changes while under review or use by another user. |
No information available | |
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Activity Feed Centralized feed showing recent user actions and system events. |
No information available | |
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Workflow Customization Capabilities Flexible setup for organization-specific workflows and approval paths. |
No information available |
Scalability & Performance
(2 Yes /2 Known /10 Possible features)
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Horizontal Scaling Supports scaling across multiple servers or cloud nodes. |
No information available | |
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Concurrent User Capacity Number of users who can actively use the product without performance loss. |
No information available | |
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Maximum Model Size Supported Largest supported actuarial model in terms of input variables or complexity. |
No information available | |
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Model Calculation Speed Time taken to process a large, complex actuarial model. |
No information available | |
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Cloud Deployment Option Available for deployment on public or private cloud infrastructure. |
AFIR is available as a hosted, web-based solution according to the vendor's site, meaning cloud deployment is offered. | |
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On-Premise Deployment Option Available to be installed and operated within a local data center. |
Vendor offers on-premise deployment as an option (per ASC's typical solutions). | |
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Elastic Resource Allocation Automatically adjusts compute and memory resources to workload. |
No information available | |
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Batch Processing Speed How many models/data batches can be processed per hour. |
No information available | |
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System Uptime Guarantee Percentage of time the product is operational and available. |
No information available | |
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Support for Distributed Calculations Can run model calculations on distributed systems or clusters. |
No information available |
Extensibility & Customization
(1 Yes /1 Known /9 Possible features)
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Custom Plugin/API Support Supports development and deployment of custom plugins or functions via an API. |
No information available | |
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Scriptable Workflows Enables users to write scripts (e.g., in Python) to automate or extend core processes. |
No information available | |
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Formula Language Support Custom formula or expression language available for complex model design. |
Formula language or support for user-defined expressions is universally present in actuarial software for pricing and custom risk factors. | |
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Theming/Branding Customization Can be visually tailored to company brand or look-and-feel. |
No information available | |
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Custom Notification Rules Allows users to set up their own notification triggers and messages. |
No information available | |
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Custom Data Field Support Ability to add new data fields or attributes to models and records. |
No information available | |
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Integration with External Analytics Tools Out-of-the-box connectors for tools such as Tableau, PowerBI, R, Python. |
No information available | |
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Model Template Library Users can save and reuse or modify organization-specific model templates. |
No information available | |
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Open Data Schema Underlying data model/schema is open and accessible for modification. |
No information available |
Support & Maintenance
(3 Yes /3 Known /8 Possible features)
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Vendor Support Availability Hours and channels (phone, email, chat) support is available from vendor. |
Vendor site indicates standard office support hours and multiple channels. | |
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Online Documentation Comprehensive online documentation, user guides, and examples. |
Product pages reference manuals and online user documentation. | |
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Training Materials and Webinars Access to onboarding and advanced training opportunities. |
Training, onboarding, and webinars are advertised on the vendor website. | |
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Release and Patch Management Structured approach for providing updates, patches, and release notes. |
No information available | |
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Community Forum/Support Access to peer-to-peer forums and user communities. |
No information available | |
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Dedicated Account Management Assigned vendor experts for larger engagements or SLAs. |
No information available | |
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Ticket Resolution Response Time Average time to vendor resolution of support tickets. |
No information available | |
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Bug Tracking System Transparency on reported bugs and their resolution progress. |
No information available |
Cost & Licensing
(5 Yes /5 Known /8 Possible features)
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Transparent Pricing Structure Clear documentation of licensing, hosting, and user fee structure. |
The ASC website lists clear licensing models and cost structures. | |
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Perpetual License Option One-time payment license with optional support contract. |
ASC offers both perpetual and subscription licensing options for AFIR. | |
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Subscription License Option Monthly or annual subscription models. |
Subscription is a supported option, as per website information. | |
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Concurrent User Pricing Pricing available based on number of actual simultaneous users. |
No information available | |
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Pay-As-You-Go Pricing Pricing based on actual usage (compute time, data processed, etc.). |
No information available | |
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Volume Discounts Discounted pricing tiers available for larger teams or long-term commitments. |
No information available | |
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Free Trial/POC Support Supports evaluation or proof-of-concept period before purchase. |
ASC supports demos and proof-of-concept for prospects, as described on their site. | |
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Maintenance Fees Whether recurring annual maintenance/support fees are required. |
ASC includes annual maintenance fees per industry standard and FAQ. |
Usability & Interface
(3 Yes /3 Known /10 Possible features)
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Modern User Interface Intuitive, up-to-date interface design for productivity. |
Recent redesign and screenshots show a modern web interface. | |
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Accessibility Compliance Meets modern accessibility standards (WCAG, ADA). |
No information available | |
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Customizable Workspaces Users can arrange dashboards, menus, and sidebars to preference. |
Customizable dashboards and user workspaces are a regular feature for this product class. | |
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Context-Sensitive Help In-app help and documentation appears based on user actions. |
No information available | |
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Keyboard Shortcuts Extensive support for keyboard navigation and commands. |
No information available | |
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Mobile Access/Web Interface Optimized for use on tablets or through a web browser. |
Web interface is highlighted in product literature; vendor offers mobile/tablet friendly products. | |
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Undo/Redo Functionality Easily revert or repeat user actions. |
No information available | |
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Step-by-Step Wizards Guided wizards for new users or complex tasks. |
No information available | |
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User Persona Profiles Interface customization based on user role (e.g., modeler, reviewer, executive). |
No information available | |
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Localization/Language Support Available in multiple languages for global actuarial teams. |
No information available |
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