SAS Solution for LDTI
Protect your investments in actuarial, accounting and related solutions by integrating key LDTI capabilities – from data orchestration and analytics to risk and profitability reporting.
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Gain a single, comprehensive view
The SAS Solution for LDTI enables you to meet all LDTI requirements, including accounting for insurance contracts and establishing a structured workflow process. The solution integrates risk and finance calculations, enabling you to streamline the flow of information and reporting to all stakeholders. The SAS Solution for LDTI facilitates the timely tracking of results and metrics, addresses LDTI regulatory requirements, and fosters collaboration among actuaries, risk managers and finance.
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Better manage data collection & validation
The SAS Solution for LDTI collects actual data directly from policy management, actuarial and accounting systems. The solution also validates data from multiple sources, including actuarial and production data required for calculating cash flows. Data quality, transparency and auditability further support the data management process, ensuring the quality of the input while addressing regulatory and accounting requirements.
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Improve workflow management
Workflow management capabilities support the orchestration of job flows to address current and future LDTI accounting and reporting rules. This includes data validation at each stage, from discounted and undiscounted cash flows through report generation. You can also add review and approval processes to any stage of the workflow.
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Apply the right methodology & measurement for each policy type
Out-of-the-box capabilities include policy type categorization and the ability to address grouping requirements. SAS supports calculation of Net Premium Ratio (NPR), Liability for Future Policy Benefits (LFPB), amortization of Deferred Acquisition of Cost (DAC) and Market Risk Benefits (MRB).
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Stage validated results for accounting system posting
SAS generates predefined disclosures aligned with your firm's accounting system. Reporting capabilities include the aggregation and disaggregation of results so you can drill down to contract or analytical details.
Key features
A comprehensive LDTI solution that helps you meet all LDTI requirements through a structured process within a flexible environment.
Analytical framework for risk & finance integration
Integrates underlying technology pieces with various business components, which may share functional capabilities and data. Provides a single source of data for both risk and finance calculations, as well as additional, more specific calculations.
Flexible implementation options
Enables you to implement your LDTI project gradually, accommodating the evolution and maturation of processes over time as you get more familiar with the requirements and effects of the standard.
Process orchestration
Provides an integrated environment for managing risk and financial data, including data collection, aggregation and allocation; calculation of LDTI measures; and creation of accounting entries and disclosures.
Data management
Provides a predefined data model, connectivity and centralized metadata, data cleansing, ETL, data migration and synchronization, data federation and master data management.
Subledger
Provides a dedicated flow to support the detailed accounting process – on a standalone basis or embedded in the end-to-end financial closing process. The flexible development logic connecting LDTI calculation and accounting processes adapts to any business requirements while enabling process owners to review and amend prior to general ledger postings.
Reporting
Delivers predefined FASB required disclosures and user-defined managerial reporting with drill-down capability as SAS Visual Analytics reports so you can identify patterns and relationships that weren’t initially evident. Combines interactive, self-service reporting with out-of-the-box advanced analytics so everyone can discover insights.
Related products, solutions & capabilities
- SAS for Insurance Contract Valuation | Powered by AzureStay in front of IFRS 17/LDTI compliance requirements without losing visibility.
- SAS® Insurance Capital ManagementMeet evolving insurance capital requirements and regulatory compliance demands, and gain a greater understanding of your company's risk and financial condition.
- SAS® Solution for CECLQuickly meet new US Financial Accounting Standards Board current expected credit loss (CECL) standards with best practices for modeling, workflow and reporting.