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ProVal from Cheiron

An actuarial valuation and modeling system designed for pension plans. Capabilities include funding calculations, accounting valuations, experience studies, forecasting, stochastic modeling, and comprehensive reporting with customizable templates.

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Product analysis by function

Actuarial Valuation Software for Actuarial Services

Specialized systems that perform complex calculations to determine the present value of future pension obligations, funding requirements, and plan solvency. These tools incorporate demographic projections, mortality tables, and economic assumptions.
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Core Valuation Engine
(14 Yes /14 Known /15 Possible features)

Data Management & Integration
(12 Yes /12 Known /15 Possible features)

Demographic and Economic Assumptions
(0 Yes /0 Known /15 Possible features)

Reporting & Disclosure
(0 Yes /0 Known /15 Possible features)

User Interface & Accessibility
(0 Yes /0 Known /15 Possible features)

Plan Design Flexibility
(0 Yes /0 Known /15 Possible features)

Security, Audit, and Compliance
(0 Yes /0 Known /15 Possible features)

Scenario & Sensitivity Modeling
(0 Yes /0 Known /15 Possible features)

Collaboration & Workflow
(0 Yes /0 Known /15 Possible features)

Integration & Extensibility
(0 Yes /0 Known /15 Possible features)

Support, Training & Vendor Services
(0 Yes /0 Known /15 Possible features)

Performance, Reliability, & Scalability
(0 Yes /0 Known /15 Possible features)

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Present Value Calculation Calculates the present value of future pension obligations considering discount rates and plan assumptions.		ProVal performs present value calculations as part of its core valuation engine for pension obligations. Vendor documentation and industry reviews confirm this.
Funding Status Assessment Assesses current plan funding against liabilities to show funding ratios.		Funding ratio and status assessment is a primary function in ProVal, as detailed on the vendor website and product manuals.
Benefit Projection Modelling Projects member benefits over various scenarios and intervals.		Benefit projection modeling is explicitly described among ProVal’s forecasting and scenario testing capabilities.
Multiple Valuation Methods Supports different actuarial valuation methodologies (e.g., PUC, entry-age normal, aggregate).		Multiple actuarial valuation methods, such as unit credit and entry-age normal, are supported according to both user guides and industry forums.
Service Cost Calculation Computes annual normal/service cost as per actuarial standards.		Service and normal cost calculations are core to ProVal’s actuarial analysis features.
Accrued Liability Calculation Calculates actuarial accrued liability for each member.		ProVal calculates accrued liability for individual members in all standard reporting modules.
Gain/Loss Analysis Analyzes deviations between actual and expected experience for assumptions.		Experience study and gain/loss analysis modules are included in the product as per Cheiron documentation.
Plan Amendment Impact Analysis Quantifies actuarial impacts from plan design changes.		Impact analysis for plan amendments is a standard actuarial feature in ProVal.
Batch Processing Speed Processes multiple valuations or members per unit time.		No information available
Scalability (Member Capacity) Maximum number of active and deferred members supported in calculations.		undefined ProVal is widely used for large public and private pension plans, indicating high scalability. However, max member capacity is not quoted numerically.
Integration with Regulatory Frameworks Supports compliance with various local and international actuarial standards.		Compliance with international and US actuarial standards (GASB, IAS19, ASC 715, etc.) is core to ProVal.
Parameter Sensitivity Analysis Allows stress-testing of valuations against changes in key assumptions.		Parameter sensitivity analysis and assumption stress-testing are cited among ProVal's scenario modeling tools.
Customizable Formula Engine Allows user-defined benefit or funding formulas.		User-defined and customizable formula engines are offered in ProVal for plan design flexibility.
Cash Flow Projection Projects future cash outflows/inflows for benefits and contributions.		ProVal supports detailed cash flow projections as one of its core features.
Real-Time Calculation Support Provides immediate calculation results for on-demand scenarios.		The system offers real-time or near real-time calculations for many interactive actuarial scenarios.

Comprehensive Data Import Imports data from spreadsheets, HR databases, or payroll systems.		ProVal supports comprehensive import from spreadsheets and HR/payroll systems.
Data Validation Tools Identifies and flags inconsistent or missing data.		Automated data validation is part of ProVal’s import process according to user guides and reviews.
Automated Data Cleansing Corrects commonly observed data errors automatically.		Built-in cleansing for common data errors is mentioned in product materials.
Multi-source Data Integration Aggregates data from multiple sources for unified processing.		Importing and integrating data from multiple sources is a standard ProVal capability.
Bulk Data Processing Capacity Maximum records that can be processed in a batch.		No information available
Audit Trail for Data Changes Tracks history of any data modifications for compliance.		Audit trails for all data changes, including user and timestamp, are documented in product feature lists.
Role-based Access Controls Restricts data access based on user roles.		Role-based access for different user types is a standard security feature in ProVal.
Demographic Data Change Logging Logs all changes made to member demographic profiles.		Change logs for member demographic changes are maintained for audit purposes.
Integration APIs APIs for integration with external systems like HR or payroll.		APIs are available for integration with payroll, HR, and other systems (see Cheiron’s technical documentation).
Data Encryption (at-rest and in-transit) Ensures member and plan data are encrypted for security.		ProVal provides encryption for data at-rest and in-transit, with compliance asserted in security sections of documentation.
Customizable Data Mapping Allows flexible mapping of input file fields to system fields.		Customizable data mapping is possible as user import templates are described in user documentation.
Multi-client Management Supports multiple funds and employers within a single platform.		Multi-client and fund management is supported as described in ProVal’s fund sponsor management features.
Member Search/Query Tools Enables flexible search for member records and data.		Flexible member search and query tooling is available as standard interface functionality.
Periodic Data Synchronization Automatically synchronizes with upstream data sources on a schedule.		No information available
Historical Data Archive Support Stores and retrieves prior years' valuation data easily.		No information available

Standard Mortality Table Support Includes standard published mortality tables (e.g., RP-2014, Pub-2010).		No information available
User-defined Mortality Table Input Allows import or creation of custom mortality assumptions.		No information available
Turnover and Retirement Rate Modelling Customizable tables for terminations, retirements, and other exits.		No information available
Salary Scale/Increase Assumptions Supports multi-step salary projection scales and annual increases.		No information available
Disability and Death-in-Service Assumptions Configurable assumptions for benefit triggers due to disability or death.		No information available
Assumption Set Version Control Tracks versions and effective dates for all assumption sets.		No information available
Scenario Analysis Tool Enables side-by-side analysis of results under alternative assumptions.		No information available
Economic Assumption Management Manages inflation, investment return, and discount rate assumptions.		No information available
Batch Assumption Update Allows global update of assumptions across multiple plans or valuations.		No information available
Experience Study Integration Imports results of experience studies for assumptions calibration.		No information available
Commuted Value Factor Calculation Calculates commuted values for deferred/early retirement or lump sum options.		No information available
Assumption Change Reporting Documents and reports impacts of changes to assumptions.		No information available
Blended Table/Rate Support Uses blends of tables by gender, member group, or other segmentation.		No information available
Stochastic Parameter Support Models variance across key assumptions using random variables or scenarios.		No information available
Regulatory Updates Notification Alerts users when new tables or required assumptions are published by authorities.		No information available

Standard Valuation Report Templates Produces reports in formats compliant with accounting standards (e.g., GASB, IAS19, ASC 715).		No information available
Custom Report Builder Allows users to design bespoke reports and schedules.		No information available
Automated Disclosure Generation Pre-fills standard disclosures for plan sponsors and auditors.		No information available
Export to PDF/Excel/Word Exports results to common reporting file formats.		No information available
Graphical Visualization Tools Charts and visualizes funding levels, liabilities, and assumptions.		No information available
Executive Summary Dashboards High-level dashboards for board and sponsor presentations.		No information available
Automated Distribution/Notification Emails or posts reports to designated stakeholders automatically.		No information available
Ad-hoc Query & Analysis Facilitates one-off queries for custom data sets and report outputs.		No information available
Regulatory Filing Interfaces Prepares data in formats required by regulators (e.g., XBRL, CSV, EDI).		No information available
Standard Disclosure Library Library of common footnotes and boilerplate for compliance.		No information available
Full Audit Trail on Reports Logs when reports are created, viewed, or distributed.		No information available
Historical Report Archiving Store and retrieve prior years’ valuations quickly.		No information available
Batch Report Generation Speed Number of reports generated per unit of time.		No information available
Multi-language Report Support Produce reports in multiple languages for international clients.		No information available
Automated Error and Consistency Checking Checks reports for internal consistency and missing values.		No information available

Intuitive Dashboard User-friendly dashboard summarizing key plan information and navigation.		No information available
Responsive Web Interface Accessible via various devices and form-factors with responsive design.		No information available
Configurable User Roles Customizable permissions and access rights for different user groups.		No information available
Multi-language UI Support Provides navigation and instructions in multiple languages.		No information available
Accessibility (ADA/WCAG Compliance) Supports screen readers and accessibility standards for disabled users.		No information available
Guided Workflows Step-by-step guides for common actuarial and reporting tasks.		No information available
Customizable Interface Themes Switch between light/dark themes or corporate color schemes.		No information available
Favorite/Bookmark Tools Allows users to bookmark frequently used features or reports.		No information available
User Feedback/Help Tools Tooltips, FAQs, and integrated support functionality.		No information available
High System Uptime Percentage uptime available to end-users.		No information available
Fast Page Load Times Average time to load screens or dashboards.		No information available
Batch Job Monitoring UI Visualizes and manages long-running calculations or imports.		No information available
Recent Activity Log View a summary of recent operations performed in the system.		No information available
Personalized Workspace Layout Users customize toolbars, widgets, and work areas.		No information available
Custom Shortcut Support Enables keyboard shortcuts for power-users.		No information available

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Financial Technology Year

ProVal from Cheiron

Product analysis by function

Actuarial Valuation Software for Actuarial Services

Core Valuation Engine
(14 Yes /14 Known /15 Possible features)

Data Management & Integration
(12 Yes /12 Known /15 Possible features)

Demographic and Economic Assumptions
(0 Yes /0 Known /15 Possible features)

Reporting & Disclosure
(0 Yes /0 Known /15 Possible features)

User Interface & Accessibility
(0 Yes /0 Known /15 Possible features)

Plan Design Flexibility
(0 Yes /0 Known /15 Possible features)

Security, Audit, and Compliance
(0 Yes /0 Known /15 Possible features)

Scenario & Sensitivity Modeling
(0 Yes /0 Known /15 Possible features)

Collaboration & Workflow
(0 Yes /0 Known /15 Possible features)

Integration & Extensibility
(0 Yes /0 Known /15 Possible features)

Support, Training & Vendor Services
(0 Yes /0 Known /15 Possible features)

Performance, Reliability, & Scalability
(0 Yes /0 Known /15 Possible features)

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Multiple Plan Types Supported Handles defined benefit, defined contribution, hybrid, and cash balance plans.		No information available
Custom Formula Builder Define bespoke benefit formulas including complex integrals, minimums, and offsets.		No information available
Variable Retirement Ages Supports multiple normal, early, and deferred retirement age structures.		No information available
Benefit Integration for Social Security Offsets Allows for formulas that reduce plan benefits based on Social Security or other external inputs.		No information available
Multiple Plan Sponsor/Employer Handling Accommodates multiple sponsors, divisions, or collective agreements.		No information available
Multiple Benefit Tiers Supports plans with multiple benefit formulas for different employee groups.		No information available
Non-standard Service Definitions Allows flexible definitions of credited service and vesting.		No information available
Ancillary Benefits Support Includes early retirement subsidies, lump sums, or disability benefits.		No information available
Portable Plan Integration Handles plans with transfer or reciprocity agreements.		No information available
Benefit Freezing/Closed Group Modelling Models frozen benefits and closed groups distinctly.		No information available
Partial/Pro-rated Vesting Supports vesting schedules beyond cliff and immediate vesting.		No information available
Multi-currency Support Calculates and reports in various international currencies.		No information available
Custom Eligibility Rules Ability to encode any eligibility requirements for membership or benefits.		No information available
Dynamic Plan Parameter Adjustment Adjust plan parameters easily for what-if studies or design changes.		No information available
Retrospective Plan Amendments Capability to apply plan changes retroactively for compliance.		No information available

Multi-factor Authentication Requires multi-step user verification for access.		No information available
Data Encryption at Rest and in Transit All sensitive data secured via encryption during storage and transmission.		No information available
User Access Logging Records all user accesses and critical interactions in the system.		No information available
Role-Based Access Control Restricts feature and data access by user or team roles.		No information available
Comprehensive Audit Logs Detailed logs capture data, assumption, and result changes for compliance.		No information available
Automated Backup Scheduling System automatically creates safe backups at defined intervals.		No information available
Penetration Testing and Vulnerability Scanning Regular testing for system security weaknesses.		No information available
GDPR, CCPA, and Data Privacy Tooling Built-in tools to support global and regional privacy laws.		No information available
Disaster Recovery Plan Availability Established recovery procedures for business continuity.		No information available
Certificate/Encryption Key Management Systematic management of keys and certificates.		No information available
Configurable Data Retention Policies Set automatic rules for purging obsolete records.		No information available
User Deprovisioning Automation Quickly removes user access upon role or employment change.		No information available
Compliant Report Templates Ensures reports and documents align with legal disclosure requirements.		No information available
Secure API Gateway All integrations routed via secure, authenticated API gateways.		No information available
Third-party Audit Support Enables outside parties to review and audit the system securely.		No information available

What-if Scenario Simulator Assesses impact of proposed changes in real-time.		No information available
Batch Scenario Processing Processes multiple scenarios in parallel.		No information available
Parameter Sweep Tools Sweeps through ranges of key parameters automatically to test model sensitivity.		No information available
Stochastic Asset Return Modeling Runs Monte Carlo or similar simulations for projecting asset returns.		No information available
Assumption Stress Testing Applies extreme/edge case assumptions to test model resilience.		No information available
Dynamic Asset-Liability Scenarios Models future mismatches between assets and liabilities.		No information available
Simulated Funding Level Distribution Generates probability distributions for future funded status.		No information available
User-defined Scenario Import Allows importing custom sets of scenarios for assessment.		No information available
Scenario Export/Sharing Exports scenario definitions or findings for stakeholder review.		No information available
Time-to-Result in Stress Scenarios How long it takes to process complex scenario simulations.		No information available
Scenario Reporting Suite Creates clear, comparative reports on key scenario outcomes.		No information available
Integrated Risk Metrics Calculates value at risk (VaR), volatility, and tail risk under each scenario.		No information available
Scenario Library Maintains templates for recurring or common scenario analyses.		No information available
Real-time Sensitivity Visualization Interactive graphs updating as assumptions are tweaked.		No information available
Batch Sensitivity Output Files Exports all sensitivity results to external files for review.		No information available

Role-based Task Assignment Assigns tasks such as reviews, approvals, or data entry to team members.		No information available
Automated Task Notifications Sends alerts and reminders for upcoming, assigned, or overdue tasks.		No information available
Multi-user Concurrent Access Allows multiple actuaries/stakeholders to work on projects simultaneously.		No information available
Built-in Messaging or Comments Collaboration via comments on tasks, reports, or member files.		No information available
External User/Client Portal Limited, secure area for plan sponsors to view results or reports.		No information available
Automated Approval Workflows Configurable approval chains for signoffs on assumptions or reports.		No information available
Change Request Tracking Workflow for requesting and documenting changes to plans, reports, or assumptions.		No information available
Version Control on Documents Maintains a version history for all important files and outputs.		No information available
Integrated Knowledge Base In-system documentation of workflow, best practices, and process guidance.		No information available
Delegation and Proxy Controls Enables delegation of permissions or approval rights temporarily.		No information available
Automated Flagging of Incomplete Steps Flags missing inputs or unreviewed outputs before processes are finalized.		No information available
Workflow Template Library Reusable templates for common team processes or client workflows.		No information available
Integrated Calendar and Scheduling Shared team calendar for workflow deadlines and checkpoints.		No information available
Bulk Task Assignment Capabilities Assign or reassign groups of tasks in one operation.		No information available
Access/Version Audit Trail Complete tracking of who accessed/modified workflow items.		No information available

APIs for Data Import/Export Supports programmatic transfer of data to and from other platforms.		No information available
Plug-in/Add-on Support Extensible architecture for third-party or bespoke tools.		No information available
Integration with Investment Management Systems Direct connections to custodians, asset managers, or fund administrators.		No information available
Payroll and HRIS Integration Imports data and exports results to payroll and HR systems.		No information available
Single sign-on (SSO) Support User authentication leverages enterprise-wide credentials.		No information available
Webhooks/Custom Event Triggers Automatically launch processes when specific events occur.		No information available
Export to Data Lakes/Warehouses Designed for analytics integration at scale.		No information available
Plugin Marketplace/Community Pre-built plug-ins or shared extensions from a user community.		No information available
Scriptable Automation Layer Custom scripting support for workflow automation or extensions.		No information available
API Rate Limit Number of API calls permitted per unit time.		No information available
Event Notifications via External Tools Pushes alerts or status updates to platforms like Slack, Teams, or email.		No information available
Data Import/Export File Format Range Number of supported import/export file types.		No information available
Integration with Document Management Systems Links to DMS for storing or organizing output documents.		No information available
OData or SQL Query Endpoint Direct query support for analytics via industry standards.		No information available
Public Developer Documentation Comprehensive user/developer documentation for integrations.		No information available

24/7 Technical Support Live support available around the clock.		No information available
Dedicated Account Manager Named point of contact at vendor for escalation and oversight.		No information available
Onboarding/Implementation Support Comprehensive onboarding and data migration services.		No information available
In-app Training Modules Self-paced product/capability guides within the software.		No information available
Regular Product Updates Consistent software upgrades for new features and regulatory changes.		No information available
User Community Forums Vendor-managed interaction space for shared learning and questions.		No information available
Comprehensive Knowledge Base Searchable resource library including documentation and troubleshooting guides.		No information available
Live Webinars/Workshops Regularly scheduled learning sessions for users.		No information available
Multi-channel Support (chat, email, phone) Product support available through preferred communication channels.		No information available
Product Roadmap Visibility Transparency into upcoming platform enhancements.		No information available
Custom Feature Request Process Formal channel for users to submit enhancement suggestions.		No information available
Comprehensive SLAs (Service Level Agreements) Clearly defined standards for vendor response and system uptime.		No information available
Sandbox/Test Environment Access Safe environment for user experimentation and previewing new features.		No information available
Regional/Local Compliance Guidance Assistance with interpreting new laws affecting the platform.		No information available
Automated Ticket Tracking Centralized view of current and historical support tickets.		No information available

High Calculation Speed Under Load Processes valuations and projections quickly at scale.		No information available
Horizontal Scalability Support Software can scale performance across servers or the cloud.		No information available
High System Availability Percent of time the software is available to users.		No information available
Automatic Failover/Redundancy Switches to backup systems in case of failure.		No information available
Performance Monitoring Tools Built-in system for live monitoring and alerting of bottlenecks.		No information available
Database Transaction Speed Average time taken per key transaction.		No information available
Concurrent User Support Maximum number of users the system supports simultaneously.		No information available
Backup Frequency Frequency that full system or data backups occur.		No information available
Disaster Recovery Time Objective (RTO) Target maximum downtime in case of disaster.		No information available
Disaster Recovery Point Objective (RPO) Maximum tolerated data loss measured in time.		No information available
Elastic Cloud Resource Scaling System adds or removes computing resources as workloads change.		No information available
Automated Capacity Alerts Warns administrators when nearing capacity limits.		No information available
Queue Management for Heavy Processing Manages high-volume jobs for optimized throughput.		No information available
Scheduled Maintenance Window Management Ability to announce and track system downtime for maintenance.		No information available
System Health Dashboards Real-time dashboards on core system metrics and health.		No information available

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Financial Technology Year

ProVal from Cheiron

Product analysis by function

Actuarial Valuation Software for Actuarial Services

Core Valuation Engine (14 Yes /14 Known /15 Possible features)

Data Management & Integration (12 Yes /12 Known /15 Possible features)

Demographic and Economic Assumptions (0 Yes /0 Known /15 Possible features)

Reporting & Disclosure (0 Yes /0 Known /15 Possible features)

User Interface & Accessibility (0 Yes /0 Known /15 Possible features)

Plan Design Flexibility (0 Yes /0 Known /15 Possible features)

Security, Audit, and Compliance (0 Yes /0 Known /15 Possible features)

Scenario & Sensitivity Modeling (0 Yes /0 Known /15 Possible features)

Collaboration & Workflow (0 Yes /0 Known /15 Possible features)

Integration & Extensibility (0 Yes /0 Known /15 Possible features)

Support, Training & Vendor Services (0 Yes /0 Known /15 Possible features)

Performance, Reliability, & Scalability (0 Yes /0 Known /15 Possible features)

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Core Valuation Engine
(14 Yes /14 Known /15 Possible features)

Data Management & Integration
(12 Yes /12 Known /15 Possible features)

Demographic and Economic Assumptions
(0 Yes /0 Known /15 Possible features)

Reporting & Disclosure
(0 Yes /0 Known /15 Possible features)

User Interface & Accessibility
(0 Yes /0 Known /15 Possible features)

Plan Design Flexibility
(0 Yes /0 Known /15 Possible features)

Security, Audit, and Compliance
(0 Yes /0 Known /15 Possible features)

Scenario & Sensitivity Modeling
(0 Yes /0 Known /15 Possible features)

Collaboration & Workflow
(0 Yes /0 Known /15 Possible features)

Integration & Extensibility
(0 Yes /0 Known /15 Possible features)

Support, Training & Vendor Services
(0 Yes /0 Known /15 Possible features)

Performance, Reliability, & Scalability
(0 Yes /0 Known /15 Possible features)