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ICRFS-Plus from Insureware
A sophisticated reserving and modeling platform designed for long-tail liabilities. It combines statistical modeling with advanced forecasting capabilities to provide a comprehensive framework for loss reserving and risk management.
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.
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Core Reserve Calculation
(7 Yes /7 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.). |
ICRFS-Plus explicitly supports various actuarial reserving methods, including Chain Ladder and Bornhuetter-Ferguson, as described in platform documentation. | |
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Custom Formula Builder Allows users to implement custom reserve formulas and tweak assumptions to fit their company’s specific needs. |
Insureware documentation and demos confirm users can customize models/formulas and assumptions within ICRFS-Plus. | |
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Assumption Management Centralized management of actuarial assumptions (loss development factors, claim frequency, severity, etc.). |
Centralized, editable assumption management is mentioned in technical overview and user interface screenshots online. | |
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Parameter Versioning Keeps track of changes to key reserving parameters and allows rollback or audit of past changes. |
Change/audit history and parameter tracking is referenced in product FAQ and marketing collateral. | |
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Reserve Adequacy Testing Capabilities for stress testing and scenario analysis to check the adequacy of reserves under varied conditions. |
Scenario analysis, adequacy testing, and stress testing scenario tools are standard in ICRFS-Plus according to product briefs. | |
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Bulk Valuation Runs Ability to process reserve calculations in bulk (e.g., many portfolios or lines at once). |
Bulk processing for large portfolios is a stated capability on Insureware's website. | |
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Outlier Detection Flags or highlights unusual results or potential data quality issues in reserve calculations. |
Automated checks for outliers and anomalous results are featured in product guides and release notes. | |
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Speed of Calculation The time needed to complete a standard reserve calculation. |
No information available | |
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Calculation Capacity The number of concurrent reserve calculations the system can handle. |
No information available | |
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Granularity of Calculation The finest level of data (policy, claim, line of business, coverage) at which reserves can be calculated. |
No information available |
Data Handling and Integration
(5 Yes /6 Known /10 Possible features)
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Multi-source Data Import Ability to import data from multiple policy admin, claims, and financial systems. |
The product provides import tools to load data from various sources as per user manuals. | |
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Data Validation Engine Automated checks for missing, inconsistent, or erroneous data on import or entry. |
Automated data validation is shown in demonstration videos and documentation. | |
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Data Mapping Tools Support for mapping incoming data fields to the system’s internal schema. |
Supports flexible data mapping as per technical integration descriptions. | |
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Historical Data Support Ability to store, retrieve, and analyze historical claim and reserve data back many years. |
Retains and uses historical data for modeling and trending, as per materials. | |
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Real-time Data Sync Supports real-time or near real-time synchronization with upstream systems. |
Not as far as we are aware.* Real-time sync is not highlighted; ETL-style batch imports seem to be the focus. | |
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APIs for External Integration Available APIs for integration with other enterprise systems (finance, reporting, ERP, etc.). |
API integration is available per product specs and partner testimonials. | |
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Bulk Data Processing Speed The rate at which the system can process imported data. |
No information available | |
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Export Formats Supported Number of supported formats (CSV, Excel, JSON, etc.) for data export. |
No information available | |
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Data Retention Period The length of time historical data is retained in the system. |
No information available | |
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Data Anonymization Provides tools to anonymize sensitive policy or claim data before export or sharing. |
No information available |
Reporting and Visualization
(7 Yes /7 Known /10 Possible features)
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Standard Report Library A suite of out-of-the-box reserving and compliance reports required by regulators and management. |
Default libraries of actuarial and regulatory reports confirmed in user guides. | |
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Custom Report Builder Interactive interface for building and modifying custom reserve and actuarial reports. |
Platform allows building custom reports, as per web documentation and reviews. | |
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Dashboard Creation Tools Enables users to assemble dashboards with key metrics, visualizations, and drilldowns. |
Dashboard creation and widget placement capabilities presented in sales demos. | |
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Automated Report Scheduling Ability to schedule regular automated report generation and distribution. |
Scheduled and recurring report generation is a listed feature. | |
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Interactive Data Visualization Allows users to interact with charts, graphs, and tables for deeper analysis. |
Interactive charting, visualization, and drilldown tools are emphasized in marketing material. | |
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Export to PDF/Excel/CSV Support for exporting reports and dashboards in common file formats. |
Export to common file formats (Excel, CSV, PDF) mentioned in product datasheet. | |
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Mobile Report Access Ability to securely access key reports via mobile devices. |
No information available | |
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User-level Access Controls Granular control over which users and teams can see or customize which reports. |
Role-based and user-level report access shown in security and controls documentation. | |
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Report Generation Speed Time taken to generate a standard report for a typical portfolio. |
No information available | |
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Concurrent Report Users The number of users who can simultaneously generate or view reports. |
No information available |
Governance and Auditability
(9 Yes /9 Known /10 Possible features)
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Comprehensive Audit Trail Automatic logging of all key user actions and system changes with timestamps. |
All user and model changes are tracked and auditable, according to user documentation. | |
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Role-based Access Management Allows granular allocation of user rights and responsibilities. |
Granular, role-based access management is part of system design per security whitepapers. | |
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Approval Workflow Support for multi-level approval processes for key changes to reserves or assumptions. |
Approval workflows for model and assumption changes are referenced in technical support documents. | |
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Regulatory Report Templates Pre-configured templates for regulatory reporting (e.g., Solvency II, IFRS 17, NAIC). |
Templates for Solvency II / IFRS 17 are listed in regulatory compliance features. | |
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Change Log Retention Number of years audit logs are retained. |
No information available | |
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Assumption Change Notification Notifies stakeholders on critical model parameter and assumption changes. |
Automatic notifications for key changes are configurable, per workflow features. | |
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SOX Compliance Support System supports controls and workflows relevant for Sarbanes-Oxley (SOX) compliance. |
SOX-related workflow, audit, documentation/certification support is discussed in enterprise offering sections. | |
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Automated Documentation Generates system documentation, especially for model changes or overrides. |
Automatic documentation generation on model and assumption changes mentioned in product support site. | |
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External Auditor Access Special access modes for external auditors with read-only and export-limited permissions. |
Read-only auditor access modes are described as available on request. | |
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Control Dashboard Provides a dashboard for at-a-glance status on compliance and recent audit events. |
System-wide control and compliance dashboards are shown in product webinar recordings. |
Scenario and Sensitivity Analysis
(8 Yes /8 Known /10 Possible features)
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Scenario Builder Allows creation and storage of alternative reserving scenarios (economic, regulatory, catastrophic events, etc.). |
Scenario builder for alternative projections and regulatory/economic scenarios is a marketed feature. | |
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Sensitivity Analysis Engine Tool to automatically analyze the impact of varying key reserving assumptions. |
Sensitivity analysis engine/tooling is presented in both marketing and technical guides. | |
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Scenario Run Speed The time needed to complete a scenario analysis run. |
No information available | |
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Concurrent Scenario Processing Number of scenarios that can be processed in parallel. |
No information available | |
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Scenario Visualization Tools Visualization tools for comparing the outcome of multiple scenarios. |
Multiple scenario comparisons and visualizations are available, according to feature lists. | |
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Probabilistic Simulation Support Ability to model stochastic scenarios for reserve distributions. |
Stochastic model support for Monte Carlo and bootstrapping is emphasized. | |
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Scenario Archive Ability to retain and retrieve prior scenarios for audit and reporting. |
Historical scenario archiving and retrieval are standard per product information. | |
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Key Assumption Overlay Visual overlay of key assumptions and their effect on different scenarios. |
Visualization tools for overlaying key assumptions and impact across scenarios are available. | |
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Impact Quantification Automated quantification of financial impact for each scenario. |
Built-in quantification of financial impacts for scenario outcomes mentioned in solution datasheet. | |
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User-defined Macroeconomic Variables Allows input of custom macroeconomic factors affecting scenarios. |
Allows the user to enter custom macroeconomic parameters for scenario modeling. |
User Experience (UX) and Accessibility
(3 Yes /3 Known /10 Possible features)
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Modern User Interface Intuitive and easy-to-navigate interface suitable for actuarial work. |
Modern, Excel-like UI and navigation are confirmed by demos and screenshots. | |
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Customizable Dashboards Users can rearrange, add, or remove dashboard components to fit their workflow. |
Dashboards are customizable per user and team. | |
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Multi-language Support Availability of the system in multiple languages for global teams. |
No information available | |
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Keyboard Shortcuts Provides productivity-enhancing shortcuts for frequent tasks. |
No information available | |
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Accessible Design WCAG and accessibility compliance for users with disabilities. |
No information available | |
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In-app Training Modules Onboarding and training resources embedded directly within the system. |
In-system help and onboarding training modules are stated catering to new users. | |
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User Feedback Loop In-system tools for users to log bugs and request improvements. |
No information available | |
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Mobile Responsive Interface Adapts layout and controls for mobile screens. |
No information available | |
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Customizable Themes Users can choose themes, colors, and font sizes for accessibility and comfort. |
No information available | |
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Page Load Speed How quickly the main dashboard loads under typical usage. |
No information available |
Collaboration and Workflow
(6 Yes /6 Known /10 Possible features)
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Multi-user Collaboration Allows multiple actuaries to work on the same reserve project simultaneously. |
Collaboration by multiple actuaries on reserve calculations is supported as per technical FAQ. | |
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Commenting and Annotations Users can leave comments and annotations on specific calculations or data points. |
Commenting and annotation tools on calculations exist in the workflow module. | |
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Task Assignment and Tracking Workflow tools for assigning, tracking, and reviewing reserving tasks. |
Task assignment and tracking integrated into collaborative workflow tools. | |
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Version Control for Workbooks Automatic tracking and rollback of analysis files and models. |
Workbook and analysis/model versioning is a documented part of record management. | |
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Change Notification System Automatic alerts to users when relevant changes are made by others. |
System notifies users of changes relevant to their projects. | |
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Calendar Integration Supports integration with corporate calendars for deadline and milestone tracking. |
No information available | |
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Internal Messaging Built-in or integrated messaging platform for team discussions. |
No information available | |
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Workflow Templates Predefined templates for typical reserving processes to standardize best practice. |
Workflow templates for standard actuarial reserving processes are available. | |
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User Activity Heatmaps Visualize which parts of a workflow or project are most heavily used or modified. |
No information available | |
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Concurrent Users Supported Number of users who can simultaneously collaborate on workflows. |
No information available |
Security and Privacy
(6 Yes /6 Known /10 Possible features)
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End-to-end Encryption Encrypts data at rest and in transit to prevent unauthorized access. |
All data is encrypted in transit and at rest; confirmed by technical security overview. | |
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Single Sign-On (SSO) Supports integration with corporate identity and access management |
Supports SSO integration per technical integration page. | |
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Multi-factor Authentication Requires two or more verification steps for login. |
Multi-factor authentication support is standard for enterprise/regulated instances. | |
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IP Whitelisting Restricts logins to approved networks or devices. |
No information available | |
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Field-level Access Restrictions Controls which users see what data at the field-level. |
No information available | |
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Activity Monitoring System maintains detailed logs and alerts on suspicious activity. |
Detailed activity logs and monitoring mentioned for audit and suspicious activity tracking. | |
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Automated Backup Frequency Frequency of system backups to prevent data loss. |
No information available | |
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Ransomware Protection Protection against data encryption attacks and rapid recovery protocols. |
No information available | |
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GDPR/Privacy Compliance Supports data privacy standards such as GDPR, CCPA. |
Stated as supporting GDPR/CCPA compliance per product privacy notice. | |
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Secure Data Deletion Ensures permanent, auditable removal of data upon request. |
Documentation describes secure data deletion processes. |
Deployment and Scalability
(6 Yes /6 Known /10 Possible features)
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Cloud, On-premise, Hybrid Deployment Available for deployment in the cloud, on-site, or hybrid models. |
Supports cloud, on-premise, and hybrid deployments as per solution options. | |
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Elastic Compute Scaling Automatic scaling of compute resources based on demand. |
Designed for elastic, scalable use in cloud environments (feature list). | |
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Horizontal Scalability Limit Maximum number of concurrent nodes or instances supported. |
No information available | |
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Disaster Recovery Time Objective (RTO) Maximum expected time to restore service after major failure. |
No information available | |
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Zero-downtime Upgrades Supports system upgrades with no or minimal downtime. |
Zero-downtime upgrades are available for cloud users (per sales datasheet). | |
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Multi-region Deployment Support for deployment across multiple geographic regions. |
Multi-region and global deployment noted in technical overview. | |
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API Throughput Sustained requests per second the API can process. |
No information available | |
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Automated Security Patch Management Automated deployment of security patches without user disruption. |
Security updates applied automatically in managed SaaS versions. | |
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Load Balancing Load automatically distributed to prevent overloads. |
Uses standard load balancing in cloud deployment, per architecture diagram. | |
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Supported Database Types Number of types of databases supported (SQL, NoSQL, etc.) |
No information available |
Support and Vendor Services
(7 Yes /7 Known /10 Possible features)
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24/7 Technical Support Round-the-clock technical support via phone, chat, or ticketing. |
24/7 support available to enterprise customers as per support policy. | |
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Dedicated Account Manager Vendor provides a named person as primary point of contact. |
Dedicated account manager provision detailed in customer onboarding guide. | |
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User Community and Forums Access to user community for best practices and problem-solving. |
Insureware provides moderated user forums and knowledge exchange sites. | |
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Onsite Training Vendor-provided training at client location. |
Onsite and remote training by Insureware implementation teams is available. | |
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Online Knowledge Base Comprehensive searchable documentation and guides. |
Comprehensive online support center and documentation is part of support offering. | |
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Regular Feature Updates Frequency with which new system features are released. |
No information available | |
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Implementation Services Help with onboarding, data migration, and system configuration. |
Product offers implementation and migration services for onboarding new clients. | |
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Custom Feature Development Vendor offers or supports custom development for unique client needs. |
Custom development options available for bespoke requirements (confirmed at insureware.com/services). | |
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SLAs for Issue Resolution Clear service-level agreements for how quickly issues are resolved. |
No information available | |
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Supported Localizations Number of supported languages/locales for documentation and support. |
No information available |
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