Unit-linked valuation, policy by policy
One monthly projection of each policy, valued under Lux GAAP, the Solvency II best estimate and the IFRS 17 VFA. Every step is shown with its formula and rebuilt in Excel.
What is valued
- The projection. Monthly: premiums on the anniversary pattern, the fund roll-forward, charges capped at the fund available, mortality and lapse, expenses and inflation.
- Lux GAAP. The PBR, AFBR, ANLR and technical provision on your basis note's definitions. Lux GAAP valuation
- Solvency II. The best estimate on the EIOPA risk-free curves, with or without the volatility adjustment.
- IFRS 17. The VFA, including the change in the entity's share of the underlying items. IFRS 17 engine
On the demo book
One book, every basis
model points
best estimate liability
matched to last year's model points
closing CSM
From AutoImpact's synthetic demo book, with no real policyholders. Your figures depend on your book and your basis.
New Calculation rules
Add items the way your basis note puts them
Additional reserve = 2% of unit fund value when policy year is below 5, otherwise 0
Expense loading = the greater of 25 and 0.1% of unit fund value
- The Check button reads a rule back in plain words, lists the figures it uses and shows its value on the latest valuation's first policies.
- A rule marked as a reserve item adds to the technical provision; other rules are shown beside it.
- It applies from the next valuation once a second person approves it, and the reviewer workbook's "Add-on items" sheet rebuilds it in Excel.
Questions
Which unit-linked products does AutoImpact value?
Unit-linked and with-profits bonds, pensions before and after vesting, and annuities in payment, projected monthly policy by policy.
How are Lux GAAP reserves defined?
As your basis note defines them: the policyholder benefit reserve, the additional reserves (AFBR and ANLR) and the technical provision, with the reserve floor rule you choose: per policy, every month, or none.
Can we add our own additional reserve?
Yes. Write it in plain language on the Calculation rules page and mark it as a reserve item, and it adds to the technical provision. It applies from the next valuation once a second person approves it, is shown per policy on the Calculation tab, and is rebuilt on the reviewer workbook's Add-on items sheet.
Does it value unit-linked business under IFRS 17 too?
Yes, under the variable fee approach, including the change in the entity's share of the underlying items, from the same projected cash flows.
Where does it run?
On a Windows PC with no administrator rights, or as a Linux container with PostgreSQL on your own servers.
See your unit-linked book valued
Share your basis note's reserve definitions. We'll value the demo book on them and walk through one policy step by step.
Or email hello@autoimpact.co.uk · Ask for the brochure