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ProVal Pension Modeling Software from ProVal
Includes tools for demographic analysis, projections, and risk modeling designed specifically for pension funds to manage longevity and funding risk efficiently.
Product analysis by function
Longevity and Demographic Modeling Tools for Actuarial Services
Advanced software that analyzes and projects population trends, mortality rates, and longevity risk to assist in long-term pension funding strategies and liability management.
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Data Integration & Input Capabilities
(10 Yes /10 Known /10 Possible features)
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Multi-Source Data Import Ability to import data from various internal and external sources (e.g., census, HR files, insurance tables). |
ProVal supports data import from various internal sources (e.g., HR files, census) based on user documentation and demo overviews. | |
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Real-Time Data Sync Capability to synchronize and update data feeds in real-time. |
Real-time data sync is referenced in ProVal's product material, supporting live update of datasets when connected to source files. | |
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Bulk Data Upload Support for bulk uploads of demographic and actuarial datasets. |
Bulk uploads of census/demographic data are core to ProVal pension modeling; user manuals indicate batch file imports. | |
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Data Quality Validation Automated routines to check for data inconsistencies, missing fields, or outliers. |
Automated routines for data validation and consistency checking are documented within ProVal import features. | |
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API Integration Interface for seamless integration with external or internal systems via APIs. |
ProVal includes API modules for integration with other pension administration or payroll systems. | |
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Custom Data Mapping Ability to map non-standard data structures to the platform’s requirements. |
ProVal offers custom data mapping for handling non-standard census layouts as documented in setup guides. | |
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Data Encryption Ensures all imported and stored data is securely encrypted. |
ProVal states all data at rest and in transit encrypted, complying with market security expectations. | |
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User-Defined Data Fields Allows creation of custom fields for specialized demographic information. |
User-defined/custom demographic fields available in import and calculation setups. | |
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Automated Data Cleansing Processes that identify and clean erroneous data entries. |
Automated data cleansing is standard; import routines help identify/clean errors in census and assumptions. | |
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Audit Trail for Data Changes Complete tracking of all data alterations for compliance and review. |
Data change audit trail available for compliance, per ProVal documentation and demo videos. |
Modeling & Projection Tools
(11 Yes /11 Known /12 Possible features)
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Life Table Construction Systematic generation of life and mortality tables based on input data. |
Life and mortality table generation based on input data is a core function of ProVal. | |
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Stochastic Modeling Ability to run stochastic simulations and Monte Carlo analyses. |
Stochastic modeling (Monte Carlo, scenario-based) available in ProVal for risk simulations. | |
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Deterministic Projection Supports fixed-scenario, non-randomized projections. |
Deterministic scenario projections are basic to pension valuations in ProVal. | |
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Cohort Analysis Analyzes trends by age, gender, or other cohort groupings. |
Cohort analysis tools provided for age, gender, and other subgroups, per ProVal feature list. | |
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Parameter Customization Flexibility to adjust and define model parameters (e.g., base mortality rates, longevity assumptions). |
Model parameters (e.g., base rates, improvement factors, salary scale) are user-customizable. | |
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Model Version Control Maintains and tracks iterations of models over time. |
Supports versioning of actuarial models/assumptions; users can maintain and revert model iterations. | |
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Scenario Management Enables users to define, save, and compare multiple scenarios. |
Scenario management with ability to define/save/compare multiple projections is a core feature. | |
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Projection Horizon Maximum number of years into the future for which projections can be made. |
No information available | |
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Stress Testing Allows simulation of adverse longevity or demographic shocks. |
Stress testing for shocks or adverse scenarios is supported for risk analysis. | |
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Sensitivity Analysis Determines the impact of varying input assumptions on outcomes. |
Sensitivity analysis is implemented for testing model outcome variation to key assumptions. | |
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Multi-Population Modeling Supports modeling of multiple populations, schemes, or geographic regions simultaneously. |
Supports modeling of multiple plans, regions, or populations simultaneously. | |
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Backward Compatibility Supports older model formats for legacy data and transitions. |
Backward compatibility with legacy datasets and older model formats is referenced in migration documentation. |
Mortality & Longevity Analytics
(8 Yes /8 Known /10 Possible features)
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Mortality Improvement Analysis Tracks and projects trends in declining mortality rates. |
Mortality improvement analysis is provided, e.g., via generational tables and trend factors. | |
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Period & Cohort Life Expectancy Calculation Calculates life expectancy for both current and cohort populations. |
Calculates period/cohort expectancy by member or plan using loaded assumptions. | |
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Survival Curve Visualization Graphical tools to visualize survival rates across time and cohorts. |
Survival curves and other visualizations available via reporting modules. | |
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Longevity Risk Quantification Provides quantitative metrics on portfolio longevity risk. |
Quantifies longevity risk at plan/portfolio level as part of standard output. | |
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Dynamic Mortality Table Updates Frequent and automated updates to reflect latest longevity trends. |
Updates for mortality/longevity tables provided regularly by vendor for market trends. | |
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Cause of Death Segregation Ability to analyze mortality by cause (if data available). |
No information available | |
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Regional/Population Segmentation Allows analysis of sub-populations within the total population. |
Allows segmentation by region or population; supported via custom queries and reporting. | |
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Custom Life Table Fitting Enables fitting of custom or proprietary mortality/longevity models. |
Custom setting/fitting of life tables is supported, including proprietary tables. | |
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Standard Table Repository Access to a library of statutory and widely-used mortality tables. |
Standard actuarial/mortality table repository included; updates delivered for new regulatory tables. | |
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Mortality Smoothing Algorithms Applies smoothing functions to mortality rates, reducing volatility. |
No information available |
Pension Liability Valuation
(10 Yes /10 Known /10 Possible features)
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Actuarial Present Value Calculation Automated computation of present value of future pension obligations. |
Actuarial present value of future obligations is a primary calculation in core functions. | |
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Benefit Projection Projects cash flows and benefit payments over time. |
Benefit projection (annual cash flows, payment streams) is well documented in ProVal product literature. | |
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Service Cost Determination Calculates current cost of benefits earned for service in the current year. |
Annual service cost determination for current service is standard in pension modeling. | |
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Vested Benefits Tracking Tracks accrued benefits for each member. |
Tracks vested benefits for each plan member as part of member-level calculations. | |
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Discount Rate Customization Allows users to set and adjust discount rates. |
Discount rate adjustment is available; users can set and edit as needed for plan liability. | |
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Liability Segmentation Segments liabilities by benefit type, member type, or other dimensions. |
Segmenting liabilities (e.g., by benefit type, member status) is supported for analytics. | |
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Funding Ratio Calculation Computes the ratio of assets to liabilities. |
Funding ratio (assets/liabilities) calculation is a primary feature in reporting and dashboard. | |
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Automatic Assumption Updates Can recalculate projections with updated actuarial or economic assumptions. |
Can apply changes to assumptions and instantly recalculate projections. | |
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Member-Level Valuation Ability to perform liability valuation at an individual member level. |
Performs member-level calculations and valuations. | |
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Commuted Value Calculation Calculates the present value of future pension streams if paid as lump sum. |
Commuted value/lump-sum calculations supported for pension cashouts. |
Reporting & Visualization
(9 Yes /9 Known /10 Possible features)
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Standard Report Templates Pre-built templates for common analytic and fund management reports. |
Standard report templates included for actuarial and fund management reporting. | |
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Custom Report Builder Allows users to design and generate custom reports. |
Custom report builder indicated in ProVal reporting modules. | |
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Interactive Dashboards Supports creation of real-time, interactive dashboards and visualizations. |
Interactive dashboarding available for real-time analytics viewing. | |
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Export Formats List of supported export formats for reports (number supported). |
No information available | |
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Automated Scheduled Reporting Automates regular report generation and delivery to stakeholders. |
Automated scheduled reporting is standard in ProVal as per user manuals. | |
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Graphical Visualization Tools Selection of graphs/charts (e.g., waterfall, heatmap, survival curves). |
Multiple visualization/charting tools supported in all reporting modules. | |
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Ad-hoc Query Capability On-demand querying and analytics for deeper insights. |
Ad-hoc report/query capabilities available in analytic and reporting sections. | |
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Comparative Reporting Supports comparison between different scenarios, models, or time periods. |
Supports scenario/model comparisons within analysis tools. | |
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Regulatory Reporting Templates and functionality for production of regulatory compliance reports. |
Regulatory reporting templates (e.g., GASB, FASB, local) included. | |
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Report Distribution Management Controls access and distribution lists for sensitive analytics. |
Distribution controls for reports, including export restrictions, are configurable. |
User Access & Security
(7 Yes /7 Known /10 Possible features)
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Role-Based Access Control Granular assignment of permissions by user role or function. |
Role-based access/user permissions detailed in ProVal setup. | |
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Single Sign-On (SSO) Integration with enterprise authentication (e.g., Active Directory, SAML). |
No information available | |
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Multi-factor Authentication Requires more than one authentication factor for access. |
Multi-factor authentication options provided for secure logins. | |
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User Audit Trail Records detailed logs of user activity and system changes. |
User action audit logs available for internal and regulatory review. | |
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IP Whitelisting/Restrictions Limits access based on trusted networks or IPs. |
No information available | |
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Encryption at Rest and in Transit Data is encrypted on disk and during transmission. |
Encryption in transit and at rest is policy for all client data according to documentation. | |
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Timed Session Expiry Automatic session logout after a period of inactivity. |
Session expiry and auto logoff are standard for security compliance. | |
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Customizable Permissions Ability to finely customize user access and rights. |
Permissions and user roles are customizable at fine granularity. | |
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Incident Alerting Alerts on unauthorized access attempts or security anomalies. |
No information available | |
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Password Policy Enforcement Enforces strength and renewal rules for passwords. |
Password policy enforcement (length, complexity, renewal) included. |
Compliance & Regulatory Support
(9 Yes /9 Known /10 Possible features)
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Standard Actuarial Assumption Library Built-in library of standard, statutory, and regulatory actuarial tables and assumptions. |
Built-in library of standard regulatory actuarial tables provided. | |
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Regulatory Update Notifications Alerts users to changes in regulations affecting longevity or pension valuations. |
Reg change notifications supplied as a part of vendor support. | |
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GDPR/Privacy Compliance Modules Tools and policies to ensure compliance with major privacy laws. |
Compliance with GDPR/major privacy frameworks is stated compliance item. | |
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Audit-Ready Reporting Generates documentation valid for external scrutiny and audits. |
Audit-ready reporting modules explicitly listed in documentation. | |
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Automated Regulatory Filing Supports direct or assisted submission to relevant regulators. |
No information available | |
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Custom Regulatory Framework Support Option to configure the system for local or non-standard regulatory environments. |
Custom regulatory frameworks can be configured for local/non-standard settings. | |
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Version History for Compliance Changes Logs and reports all regulation-related configuration changes. |
Regulatory/configuration change logging included via version history. | |
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Access to Historical Regulatory Data Maintains history of regulation text and requirements for reference. |
Historical regulatory assumptions and documentation maintained for reference. | |
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Data Retention Controls Configurable rules for data storage and deletion in line with regulations. |
Data retention schedules/configuration for compliance with data privacy laws. | |
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Compliance Checklist Built-in checklists for risk and compliance assurance. |
Built-in risk and compliance checklists for actuarial and fund review. |
Usability & Collaboration
(5 Yes /5 Known /10 Possible features)
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Intuitive User Interface Well-designed interface for easy navigation and reduced training time. |
User interface is praised by clients and reviewers for its layout and clarity. | |
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Multi-Language Support System available in multiple languages. |
No information available | |
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Collaborative Workspaces Multiple users can collaborate on analysis and reporting in real time. |
Supports multi-user collaboration in the cloud edition. | |
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In-Platform Chat/Comments Integrated discussion tools for case-by-case communication. |
No information available | |
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Role-Based Task Assignment Assign analytic or reporting tasks to specific users or groups. |
No information available | |
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Contextual Help and Tutorials In-app tips, guides, and documentation for faster onboarding. |
Contextual help and user tutorials available in both product and online support. | |
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Flexible Dashboard Customization Users can arrange analytics and KPIs as preferred in dashboards. |
Flexible dashboard and analytics setup available (drag-and-drop, module arrangement). | |
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Mobile Access Availability of mobile apps or responsive web access. |
Responsive browser access; dedicated mobile apps not mentioned, but core tools available on tablet/mobile browser. | |
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Accessibility Compliance Meets accessibility standards for users with disabilities. |
No information available | |
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Favorite/Bookmark Features Users can bookmark tools, reports, or configurations for quick access. |
No information available |
Performance & Scalability
(5 Yes /5 Known /10 Possible features)
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Maximum Dataset Size Supported Largest volume of records the system can efficiently process. |
No information available | |
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Concurrent User Support Maximum number of users working simultaneously. |
No information available | |
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Model Run Speed Time taken to execute standard longevity projection scenario. |
No information available | |
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Batch Processing Capability System can process large-volume jobs in batch mode. |
Batch job and overnight processing for large actuarial jobs is standard. | |
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Horizontal Scalability Capacity to add more processing nodes for higher throughput. |
Cloud deployments use auto-scaling and horizontal scaling; on-prem options support clustering. | |
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Cloud & On-Premise Deployments Availability in both SaaS and on-premise configurations. |
Offered both as SaaS and on-premise install per client requirements. | |
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Job Queue Management Manages, prioritizes, and schedules multiple analytic jobs. |
Scheduled jobs and prioritization (job queue management) referenced in advanced features. | |
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Automated Resource Allocation Dynamically allocates computational resources as needed. |
No information available | |
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System Uptime SLA Guaranteed system uptime as a percentage per year. |
No information available | |
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Disaster Recovery Features Rapid data and system restoration capabilities in the event of failures. |
Disaster recovery (backups, failover) detailed in vendor support documents. |
Support & Maintenance
(8 Yes /8 Known /10 Possible features)
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24/7 Technical Support Round-the-clock help desk for technical troubleshooting. |
24/7 support plans are available for clients. | |
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User Training Programs Comprehensive onboarding and expert user training offerings. |
Structured onboarding/training for new users provided. | |
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Online Knowledge Base Accessible articles, manuals, and best practices. |
Online documentation, knowledge base, and FAQ available. | |
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Ticketing System Structured system for tracking support and bug reports. |
Support/ticketing system for bug and support requests described in client support portal. | |
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Maintenance Scheduling Advanced notification and planning for scheduled downtimes. |
Maintenance scheduling and notification provided for all production environments. | |
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Upgrade/Migration Assistance Support with version upgrades or platform migrations. |
Vendor offers upgrade/migration assistance based on product history and client reviews. | |
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Service Level Agreements (SLAs) Guaranteed response and resolution times for issues. |
Clear SLAs for support responses and issue resolution. | |
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User Community Forums Online community for sharing knowledge and solutions. |
No information available | |
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Dedicated Account Manager Single point of contact at the vendor for support and consultation. |
Dedicated account manager included for enterprise accounts per vendor marketing. | |
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Bug Fix Turnaround Time Average time to provide resolution to reported bugs. |
No information available |
Cost, Licensing, and Vendor Due Diligence
(9 Yes /9 Known /10 Possible features)
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Transparent Pricing Structure Pricing is clearly defined, with all inclusions and exclusions listed. |
Pricing structures, inclusions, and exclusions are transparent and available on request. | |
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License Flexibility Options for perpetual, subscription, or usage-based licenses. |
Supports subscription, perpetual, and usage-based licensing per vendor offerings. | |
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Trial or Proof-of-Concept Availability Potential to pilot the solution with trial access. |
Proof-of-concept/trial available for qualified clients by arrangement. | |
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Implementation Cost Estimate Vendor provides a clear estimate for onboarding and customization. |
Clear implementation/onboarding cost estimates provided during sales process. | |
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Contract Length Options Variety in contract durations (minimum and maximum term). |
No information available | |
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Exit and Data Portability Provisions Contract includes exit planning and ability to export all data. |
Exit/data portability covered in contract, and data exports are available on demand. | |
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Vendor Financial Stability Vendor has proven long-term financial and operational viability. |
Vendor is well established and financially stable in actuarial software sector. | |
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Client References Available Vendor can provide references from similar pension funds or actuarial teams. |
Client references available upon request and published in marketing case studies. | |
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Custom Feature Development Willingness and contractual provisions for bespoke enhancements. |
Custom feature development supported contractually for strategic clients. | |
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Clear Upgrade Path & Notification Commitment to providing timely product upgrades and notifying the client. |
Product roadmap and notifications for new features/releases are distributed to all users. |
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