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Aptitude Calculate

A scalable, highly performant calculations and rules engine that empowers the finance office to perform complex and multi-dimensional calculations, conversions, and allocations.
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Control and agility
Flexible and configurable. Use as a standalone solution or alongside other Aptitude products.
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Strategic foresight
Harness data to drive actionable business insights
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Smart compliance
Drive compliance with regulatory and management reporting requirements
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Operational intelligence
Gain operational and cost efficiencies and improved productivity

What is Aptitude Calculate?

Aptitude Calculate (AC) is a stand-alone calculation and rules engine that fully supports automated allocations and calculations by entity, LOB, portfolio/cohort, contract or any other dimension required.

Control and automation for calculations and allocations

Aptitude Calculate provides the elements and processing power required for businesses across industries to define and generate allocations, calculations, and conversions. The use cases are many and can include anything that requires a cost, expense, or investment allocation or any supplementary calculation needed to support the finance team in its functional and compliance data preparation and reporting requirements.

It is is flexible, scalable and integrates seamlessly with existing systems to meet a wide variety of use cases.

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Meet IFRS 17 calculation and disclosure requirements

The challenges associated with the insurance Standard, IFRS 17 are well documented.

However, we are seeing less well documented challenges arising at some of the global IFRS 17 projects we have live today. These include filling calculation gaps not addressed in existing actuarial and source systems and managing the cost allocations necessary for compliance.

This is particularly driven by the requirements to apply allocation rules to data like expenses, risk adjustments, and even certain cashflows to ensure the granularity of data meets the IFRS 17 calculation and disclosure requirements.

In addition, many insurer’s source systems are not flexible in output nor automated, creating a need for additional supplementary calculations. These can include generating fulfilment cash flows from payment pattens for the LIC or converting accident year data into underwriting year data.

To address these challenges, many Insurers are using Aptitude Calculate to fill the missing link in their IFRS 17 architectures by using allocations and calculations to get data into the format required for IFRS 17 processing and addressing gaps in existing solution capabilities.

SOLUTION BRIEF
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    quote The combination of Aptitude Calculate and the Aptitude Accounting Hub will enable us to calculate and post multiple valuations in parallel. This will not only result in substantially shorter close periods; it also simplifies the current processes – allowing the business to focus on more value-adding tasks.”
    Finance IT Transformation Program Lead
Multiple calculation methodologies to support various use cases including mathematical functions, allocations, and weighting matrices
Iterative what-if modelling enables define, run, analyze cycles to support scenario planning and analytic
Intuitive graphical user interface empowers business users to easily build Rules and RuleSets to flexibly respond to business change
Common, reusable processes, rules, filters and weightings ensure consistent treatment across the organization
Version controlled model elements and role-based approval workflows
Integrates with enterprise schedule and source and target systems like actuarial, General Ledgers, and reporting tools
Supports Multi-GAAP requirements through the ability to generate multiple versions of calculation logic

Aptitude Calculate Core Offering

Use cases include, but are not limited to:

  • Allocation of back office cost to front office
  • Allocation of service center costs from lower costs locations Revenue Transfer Pricing
  • Allocation of investment banking sales credit/review for MI and year end compensation
  • Automation of allocation methodology application for multi-GAAP reporting
  • Supporting local requirements like APRA that require enhanced data granularity
  • Tax calculations
  • Modelling results of multiple allocation/calculation methodologies to understand impacts
  • IFRS 17 calculation extensions including VFA Tax and expected claims
  • Calculation of any supplementary financial, or deterministic calculations
  • Calculation of asset pool cover calculations and allocations
  • Calculation of US GAAP premium, commission and claim values for Reinsurance

Ready to learn more about Aptitude Calculate

If you would like to learn more about Aptitude Calculate, then why not book a call with one of our experts or schedule a free demo?

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