Initial situation
Because pension service providers are legally obligated to calculate specified service costs, the client was searching for a development partner that would offer Allvisa a faster and more reliable planning of their insurance offerings.
Coverage capital calculator (DK)
This application enables pension institutions to accurately calculate the necessary coverage capital for future pension payments. The DK calculator determines how much capital an institution must provide to securely cover its obligations to policyholders over the long term.
Statistical data on mortality rate, gender, age, and other factors are taken into account. Data management is seamlessly carried out through dynamic Excel spreadsheets, simplifying the input and output of data significantly.
For example, the application calculates the probability of death for a 25-year-old married man in each year of his life as well as the resulting payments, such as for widow's or children's pensions. The software considers numerous scenarios, such as the man's life expectancy, the duration of claims by his dependents, and other relevant factors.
These calculations result in a complex network of probabilities and costs that allow the pension fund to accurately determine the necessary liquidity for each policyholder. This ensures that all potential obligations can be reliably covered.
The result: flexibility, intelligent process guidance, and real-time feedback
The coverage capital calculator offers flexible configuration options that allow users to individually adjust parameters such as the life expectancy statistics used or the weighting of factors like the probability of disability.
The application also processes extensive datasets with tens of thousands of policyholders. Thanks to optimized algorithms and parallel calculations, it delivers fast and efficient results despite the volume of data.
During the calculation, the application provides continuous real-time feedback on progress and offers helpful warnings and tips. This proactive communication enables users to immediately identify and correct potential discrepancies in the input data. Even with incomplete inputs, the software completes the calculations and generates an initial result and a list of necessary adjustments, allowing decisions to be made promptly.
Insurance services (IAS)
Pension service providers are legally obligated to calculate certain service costs. This functionality has been integrated into the Allvisa Consult application to enable institutions to plan their insurance services more efficiently and accurately.
The calculation of service costs builds on the probabilities and inventory numbers determined in the DK calculator. This efficient reuse has reduced development effort and leveraged synergies. Data input and output also occur through Excel spreadsheets, simplifying handling and supporting integration into existing systems.
The result: transparency and traceability
To provide a comprehensive insight into the calculation processes, the application offers the ability to output individual cases separately. This allows access to detailed intermediate values and calculation details that are essential for informed analyses and decisions.
Past calculations are archived in the application. An organized history allows users to track at any time which calculations were performed with which input parameters for which customers. Similar to the DK calculator, the calculation is completed even with missing values to provide an initial result and a complete list of input information and assumptions made.
Initial situation
Because pension service providers are legally obligated to calculate specified service costs, the client was searching for a development partner that would offer Allvisa a faster and more reliable planning of their insurance offerings.
Coverage capital calculator (DK)
This application enables pension institutions to accurately calculate the necessary coverage capital for future pension payments. The DK calculator determines how much capital an institution must provide to securely cover its obligations to policyholders over the long term.
Statistical data on mortality rate, gender, age, and other factors are taken into account. Data management is seamlessly carried out through dynamic Excel spreadsheets, simplifying the input and output of data significantly.
For example, the application calculates the probability of death for a 25-year-old married man in each year of his life as well as the resulting payments, such as for widow's or children's pensions. The software considers numerous scenarios, such as the man's life expectancy, the duration of claims by his dependents, and other relevant factors.
These calculations result in a complex network of probabilities and costs that allow the pension fund to accurately determine the necessary liquidity for each policyholder. This ensures that all potential obligations can be reliably covered.
The result: flexibility, intelligent process guidance, and real-time feedback
The coverage capital calculator offers flexible configuration options that allow users to individually adjust parameters such as the life expectancy statistics used or the weighting of factors like the probability of disability.
The application also processes extensive datasets with tens of thousands of policyholders. Thanks to optimized algorithms and parallel calculations, it delivers fast and efficient results despite the volume of data.
During the calculation, the application provides continuous real-time feedback on progress and offers helpful warnings and tips. This proactive communication enables users to immediately identify and correct potential discrepancies in the input data. Even with incomplete inputs, the software completes the calculations and generates an initial result and a list of necessary adjustments, allowing decisions to be made promptly.
Insurance services (IAS)
Pension service providers are legally obligated to calculate certain service costs. This functionality has been integrated into the Allvisa Consult application to enable institutions to plan their insurance services more efficiently and accurately.
The calculation of service costs builds on the probabilities and inventory numbers determined in the DK calculator. This efficient reuse has reduced development effort and leveraged synergies. Data input and output also occur through Excel spreadsheets, simplifying handling and supporting integration into existing systems.
The result: transparency and traceability
To provide a comprehensive insight into the calculation processes, the application offers the ability to output individual cases separately. This allows access to detailed intermediate values and calculation details that are essential for informed analyses and decisions.
Past calculations are archived in the application. An organized history allows users to track at any time which calculations were performed with which input parameters for which customers. Similar to the DK calculator, the calculation is completed even with missing values to provide an initial result and a complete list of input information and assumptions made.
