Risk and Regulatory Reporting

Powerful, highly detailed and transparent risk and regulatory reporting

In the fast-paced and ever-evolving life insurance landscape, businesses are facing an ever-increasing burden of regulatory compliance. As the complexities of life insurance and annuity products grow, the task of producing accurate and transparent reporting becomes more demanding and cumbersome. This is where our Risk and Regulatory Reporting toolset comes to the rescue.

At Annuity Risk, we take pride in providing comprehensive risk reporting and regulatory reporting solutions that empower leaders not only to monitor every beat of their life/annuity book, but also help them meet compliance requirements with ease. Our regulatory reports go above and beyond the regulatory requirements, thoroughly impressing the regulator while also establishing a higher standard of delivery in the field. 

The Backbone of Trust: Detailed Audit Trails

One of the cornerstones of our reporting services is the meticulous creation of detailed audit trails.  An audit trail is a step-by-step record of all the policy fields and market data inputs, model versions, model assumptions and settings, experience assumptions, and outputs involved in generating a particular number (output) in a report. This trail provides a transparent and traceable path, allowing stakeholders to scrutinize every aspect of the report’s creation.Our team ensures that each report’s audit trail is comprehensive and easily accessible, so our clients can validate the accuracy and reliability of the information presented. Each time the same report is generated, a new audit report is generated with it. By adhering to best practices in generating audit trails, we instill confidence in our clients, auditors, and regulatory authorities, helping them navigate complex financial and actuarial statistics with clarity and certainty.

Internal vs External Reporting: Avoiding Information Overload

Many risk reports are meant for external stakeholders such as board members and auditors. On the other hand, the internal team needs to see a far more detailed version of the same report – so that they can understand and monitor the drivers of key metrics. For this purpose, we build one or many highly detailed versions of the same report, which we collectively call “internal” reports, which complement a much more concise version, i.e., the “external” report for the external stakeholders.

Transparency that Drives Trust

Transparency is more than just a buzzword; it’s a fundamental aspect of our reporting process. Both internal and external stakeholders rely on our reports to make crucial decisions, and we understand the importance of providing clear, understandable, and unbiased information.Our fully transparent internal and external reporting means that nothing is hidden from scrutiny. We provide a complete log of inputs, outputs, models, and assumptions used in generating each report. This level of transparency not only builds trust but also empowers our clients to understand the data better, make well-informed judgments, and identify potential areas of improvement.

Unburden your Staff

The ease of use our financial and regulatory reports has earned us widespread appreciation from our clients. Within insurance companies, many high caliber actuaries find themselves overly saddled by the task of producing these regulatory reports. This burden prevent them from fully utlizing their creative potential and business acumen for the growth of their organizations. Once relieved from the burden of these rote, repetitive tasks, them almost always excel in their work areas, and reach new heights in their careers. 

The Way Forward

As the life insurance landscape continues to evolve in India, we remain steadfast in our commitment to delivering exceptional financial risk reporting, covering risks, scenarios and analysis for upcoming annuity and insurance products. These new and immovative products will require an evolved risk perspective, and we make sure our reporting is evolving and ever ready for the new challenges that markets and regulators pose.