Life and health insurance consultancy Tabei has launched T+1, an actuarial projection model used for pricing, valuation and capital calculations.
Now available for early access demo, the model has been built for insurance and reinsurance companies looking to increase their agility and responsiveness in their core markets and aims to support actuarial teams with pricing, valuations and capital calculations for long-term insurance products, including protection.
Katie Crook-Davies, managing director at Tabei, (pictured) said: “As an industry, we’re collectively striving to grow the protection market and deliver cover to underserved groups of customers, and in my mind, agility is core to this.
“We must be able to respond quickly to market changes with new propositions that are well-priced and make commercial sense to all involved.
“But over the years, and having used a number of existing actuarial software solutions, we’ve learnt that current models aren’t enabling that innovation and agility we need to see.
“Not content to accept the way things have always been done, we’ve spent the last few years carefully designing and building T+1. It’s a piece of software we believe has the power to transform actuarial processes for the better.”