Case study Integrating with Internal Teams Case Study

The Client

A multinational reinsurer

The Ask

Converted a complex block of US life reinsurance business onto AXIS as part of a wider conversion project, leveraging internal junior actuarial resources to complete the conversion.

Project Breakdown

Discovery and Design Phase

Liase with the valuation team to collect required information about the block being converted, including:

  • Legacy reporting processes and the block’s complexities
  • Legacy model inforce extracts, product features, assumption mapping, and tables
  • Legacy seriatim and non-seriatim reserves and projections for reconciliation

Review AXIS model and reporting configurations proposed by wider conversion team, including:

  • Inforce extract format and structure
  • Existing AXIS and DataLink configurations
  • EnterpriseLink usage
  • Format and granularity of model output

Develop optimal design for AXIS model, including:

  • Providing input on all aspects of wider actuarial system/reporting design framework
  • Deciding on optimal AXIS model configuration in conjunction with wider conversion team

Implement processes and activities to manage resources and project flow, including: 

  • Assessing the skill level of internal actuarial resources provided (all actuarial interns)
  • Determining resources and roles within the wider conversion project to ensure efficiency and avoid duplication of work effort
  • Developing a detailed project plan and project communication protocols

Development Phase

AXIS model development:

  • Work with IT to develop method for extracting assumptions and assumption tables from legacy systems
  • Lead junior resources in all aspects of DataLink and model development
  • Develop customized AXIS reports for reconciliation, analysis, and reporting
  • Co-develop AXIS enhancements with Moody’s to address unique characteristics of the block
  • Develop model controls to ensure accuracy of all AXIS models

Junior resource development:

  • Provide group and one-on-one training to staff on general actuarial and reinsurance knowledge, as well as technical software training
  • Provide mentorship and advice on career development
  • Assist junior staff in networking with client’s full-time actuarial team

Validation Phase

Reconcile all bases:

  • Develop seriatim reserve reconciliation where legacy seriatim results are available
  • Develop higher-level cash flow and reserve reconciliation for all bases
  • Develop detailed walk from legacy reported results to post-conversion AXIS results for all bases

Communicate results to stakeholders:

  • Develop and deliver presentations to stakeholders, including the valuation team, senior management, and retrocession partners, customizing each presentation to communicate targeted results and appropriate level of detail
  • Address questions from auditors to achieve conversion approval

Delivery Phase

Deliver new AXIS model:

  • Deliver efficient, well-documented AXIS model ready for reporting in the current quarter

Deliver model conversion document and AXIS model user guide, including:

  • Document providing all development and validation details for conversion project
  • Valuation process document summarizing reporting processes and controls
  • Detailed summary of model configuration

Provide change management support and training, including:

  • Formal and informal staff training
  • On-demand post-conversion Q&A support to model development and valuation teams


The project was completed on time and with positive feedback from senior management. Results included the following:

  • Manual legacy processes were decommissioned, resulting in an automated reporting process post-conversion.
  • Multiple actuarial interns on the project were hired by the reinsurer as full-time employees and later became part of company’s internal AXIS consulting team.
  • Having integrated well into the wider conversion team, Actuarial Design became a preferred provider of AXIS consulting services for the reinsurer, providing support on both routine quarterly modeling work and larger conversion, reporting, and actuarial system modernization projects.