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ProVal from Actuarial Systems Corporation (ASC)
An actuarial valuation software specifically designed for defined benefit plans. It includes plan administration, compliance testing, funding calculations, accounting valuations, and forecasting capabilities.
More about Actuarial Systems Corporation (ASC)
Product analysis by function
Statistical Analysis Software for Actuarial Services
Powerful computation platforms that support complex statistical analyses, data mining, and predictive modeling specific to pension fund demographics and financial projections.
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Data Management and Integration
(8 Yes /8 Known /10 Possible features)
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Multi-source Data Import Supports importing data from multiple file types (CSV, Excel, databases, APIs) seamlessly for actuarial analysis. |
ProVal supports data imports from CSV, Excel, and ODBC databases according to documentation, allowing multi-source data import. | |
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Data Cleansing Tools Includes tools for identifying and correcting errors or inconsistencies in raw data. |
ProVal provides data audit and quality checks, which function as data cleansing tools. | |
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ETL (Extract, Transform, Load) Capability Provides integrated ETL features to automate data preparation workflows. |
ProVal documentation refers to a data conversion and transformation module, which provides ETL capability. | |
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Automated Data Validation Checks incoming data against predefined rules and flags anomalies. |
No information available | |
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Large Dataset Support Can efficiently handle and process large, multi-million record actuarial datasets. |
ProVal is designed for large pension plan datasets and is recognized in the industry for handling large groups. | |
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Data Versioning Tracks and manages different versions of datasets for audit and compliance purposes. |
Release notes indicate the ability to track data versioning for audit/compliance. | |
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Metadata Management Enables tagging, describing, and tracking dataset properties for easy identification. |
ProVal allows tagging and description of datasets for plan identification, supporting metadata management. | |
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Secure Data Storage Ensures data stored in the platform is encrypted and secured. |
Vendor documentation and standard industry compliance means secure data storage is implemented. | |
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Data Export Flexibility Exports results and data to multiple file formats or databases. |
Supports exports to Excel, CSV, and database formats. | |
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Real-time Data Refresh Enables automatic refresh of external data connections. |
No information available |
Statistical and Actuarial Modeling
(11 Yes /11 Known /12 Possible features)
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Actuarial Life Table Functions Implements generation and manipulation of life tables for mortality analysis. |
Actuarial life table functions are a core module in ProVal for defined benefit plan analysis. | |
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Survival Analysis Includes advanced techniques for survival and mortality projection. |
Supports a variety of survival and decrement models as part of actuarial projections. | |
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Regression Analysis Broad support for linear, logistic, and generalized regression models. |
ProVal provides regression analysis tools, as stated in the statistical and modeling documentation. | |
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Time Series Analysis Provides robust methods for modeling and forecasting financial and demographic time series data. |
No information available | |
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Stochastic Modeling Ability to conduct simulations with Monte Carlo and other stochastic processes. |
Monte Carlo and other stochastic methods are available for liability projections. | |
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Multivariate Analysis Performs principal component analysis, factor analysis, and other multivariate techniques. |
ProVal documentation references support for principal components, multi-variate procedures. | |
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Custom Model Development Allows users to define and implement custom actuarial models. |
Custom formula and actuarial model creation is a well-marketed feature of ProVal. | |
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Actuarial Valuation Modules Integrated tools for pension fund valuation and liability estimation. |
Valuation modules for accounting, funding, projections, and compliance provided. | |
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Sensitivity and Scenario Analysis Efficient tools to test models under various economic, demographic, and regulatory scenarios. |
ProVal implements scenario and sensitivity testing for actuarial projections. | |
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Parameter Estimation Tools Automated routines for fitting and optimizing model parameters. |
Parameter estimation routines (actuarial assumptions, calibration) are a standard reported feature. | |
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Portfolio Risk Modeling Quantitative tools to assess and optimize investment portfolio risk in the pension context. |
Portfolio risk analytics for pension assets are included in documentation and marketing. | |
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Embedded Mortality/Disability Models Pre-built actuarial tables and risk models relevant to pension funds. |
Embedded tables for pension industry: RP-2014, Entry Age, etc. |
Computation Performance and Scalability
(2 Yes /2 Known /8 Possible features)
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Parallel Processing Utilizes multicore or distributed computing to accelerate analysis. |
No information available | |
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Cloud-Based Compute Options Offloads heavy computation to scalable cloud resources. |
ProVal is cloud-enabled and supports cloud computing environments according to their website. | |
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Computation Speed Average time to run a standard large actuarial projection. |
No information available | |
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Concurrent User Support Number of users who can simultaneously perform computations without performance degradation. |
No information available | |
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Batch Processing Ability to execute large jobs in batch mode, scheduling or automation. |
Batch runs and scheduled processing are available as per documentation. | |
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Memory Optimization Optimized use of memory for very large datasets. |
No information available | |
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Job Queue Management Advanced job scheduling and monitoring capabilities. |
No information available | |
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Failover and Recovery Ability to recover from failed computations automatically. |
No information available |
User Interface and Usability
(3 Yes /4 Known /8 Possible features)
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Graphical User Interface (GUI) Intuitive, modern, and customizable visual interfaces. |
ProVal is recognized for its GUI which is an industry standard. | |
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Interactive Dashboards Drag-and-drop, customizable dashboards for exploring and presenting data. |
Interactive data exploration dashboards are demonstrated in product presentations. | |
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Command Line Interface (CLI) Allows scripting and automation via command-line for power users. |
No information available | |
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Customizable Workspace Users can personalize the layout, colors, and component arrangement. |
Not as far as we are aware.* No indication of customizable workspace beyond dashboard panels. | |
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Keyboard Shortcuts Extensive keyboard shortcuts to speed up workflow. |
No information available | |
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Multi-language Support Supports multiple languages and region-specific settings. |
No information available | |
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Accessibility Options UI can be adapted for users with disabilities. |
No information available | |
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Role-based Access Control Interface adapts scope and options according to user roles. |
Supports user roles, which define the scope of what can be accessed and edited. |
Reporting and Visualization
(5 Yes /5 Known /9 Possible features)
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Interactive Charts & Graphs Generates dynamic, interactive visualizations for data and model outputs. |
Custom interactive graphs, e.g., liability outputs over time, are demoed in product materials. | |
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Automated Report Generation One-click or scheduled generation of recurring reports. |
Can automate and schedule recurring report runs. | |
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Customizable Templates Allows users to create or customize templates for regular reports. |
Templates for standard and custom pension plan reports available. | |
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Export to PDF/Excel/Word Exports charts, tables, and reports to common business file formats. |
Exports to PDF, Word, and Excel are listed in feature documentation. | |
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Drill-down Reporting Supports deep dives from summary numbers to granular data visuals. |
No information available | |
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Data Annotation Enables the addition of comments or contextual notes to reports. |
No information available | |
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Infographic Tools Enables creation of infographic-style outputs for stakeholder presentations. |
No information available | |
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Dashboards with Real-time Data Dashboards update automatically as underlying data changes. |
No information available | |
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Regulatory Reporting Support Pre-formatted reports for regulatory compliance, e.g., actuarial valuations. |
ProVal specifically advertises support for regulatory and accounting compliance (e.g., US, Canada, IAS 19). |
Compliance and Audit Support
(4 Yes /4 Known /6 Possible features)
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Audit Trail Comprehensive logs of all data imports, modifications, calculations, and exports. |
Audit trail logs are maintained for legislative and compliance reporting. | |
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Regulatory Compliance Modules Specific modules designed for relevant pension regulations (e.g., IAS19, US GAAP, local pension laws). |
Modules for local/global accounting standards (IAS19, US, etc.) available. | |
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Permissions Management Granular control over user data and feature access for regulatory compliance. |
Fine-grained permissions for user and feature access provided as part of standard corporate offering. | |
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Change Tracking Tracks all changes to models, assumptions, and data for compliance reviews. |
Tracks data, assumptions, and plan rule changes for audit and compliance. | |
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Automated Documentation Automatically generates documentation detailing all critical actuarial and statistical processes performed. |
No information available | |
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Encrypted Audit Logs Stores system logs and audit trails in an encrypted, tamper-resistant format. |
No information available |
Security
(5 Yes /5 Known /6 Possible features)
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User Authentication Supports strong password policies and multi-factor authentication. |
User authentication via corporate password policies is referenced in enterprise deployment docs. | |
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Data Encryption at Rest and in Transit Ensures all data, both stored and transmitted, is encrypted using industry standards. |
Encryption of stored and transmitted data is a stated feature for compliance with pension data regulations. | |
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Role-based Access Control Restricts access to data and features based on user roles and responsibilities. |
Role-based access also enforced on security level. | |
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Regular Security Updates Receives and applies regular security fixes from the vendor. |
Vendor provides regular updates, including security patches, as standard support. | |
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Penetration Testing Certifications Undergoes independent penetration tests and holds certifications (e.g., ISO 27001). |
No information available | |
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Disaster Recovery Includes backup and restore features to ensure data is not lost in case of failure. |
Backup and restore functionality is part of ProVal/ASC's offering. |
Collaboration and Workflow
(3 Yes /3 Known /5 Possible features)
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Shared Workspaces Teams can share data, models, and results in real time. |
ProVal supports real-time sharing of datasets between teams. | |
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Commenting and Annotation Allows users to comment on datasets, assumptions, and reports for transparency and discussion. |
No information available | |
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Version Control Integration Integrates with version control systems for source management of scripts and models. |
No information available | |
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Workflow Automation Automates recurring tasks like data imports, calculations, and report generation. |
Workflow automation for reporting and calculations is referenced in documentation. | |
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Task Assignment and Tracking Assigns tasks to team members and tracks workflow progress. |
Task assignment and tracking modules exist for team deliveries and project management. |
Integration and Extensibility
(0 Yes /0 Known /5 Possible features)
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API Access Well-documented APIs to integrate with other enterprise or external systems. |
No information available | |
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Plug-in/Extension Support Support for third-party add-ons, extensions, or user-defined scripts. |
No information available | |
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Custom Scripting Languages Ability to write and execute code in R, Python, or other relevant languages. |
No information available | |
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Integration with BI Tools Seamlessly exports/imports data to/from popular business intelligence platforms (like PowerBI, Tableau). |
No information available | |
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Webhooks/Event Triggers Ability to send customized notifications or actions based on certain platform events. |
No information available |
Support, Training, and Documentation
(2 Yes /2 Known /5 Possible features)
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Comprehensive Documentation Up-to-date, searchable documentation for all platform features. |
Documentation and help resources are maintained by the vendor, available to licensees. | |
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Built-in Tutorials Interactive tutorials and walkthroughs for new and advanced users. |
Onboarding and training tutorials referenced in product support materials. | |
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User Community and Forums Active online user communities and moderated discussion forums. |
No information available | |
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Vendor Support Availability Hours per day vendor support is available. |
No information available | |
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Multilingual Help Resources Help resources and support available in multiple languages. |
No information available |
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