Finance

ORSA Forecasting Tool

Deloitte
Finance needs a more controllable, repeatable, and efficient rolling forecast process in order to bring more strategic business insights to senior management to enhance the business model. The current forecasting process is labour intensive and often spreadsheet based. With increasing information demands, multiple periodic forward-looking assessments and the need for enhanced analytical insights, the current forecasting process and tooling cannot sufficiently support the insurers business goals. Today’s planning is not only P&L based but also driven by the balance sheet and capital position, mainly caused by Solvency II. Therefore strategic capital planning is essential and should be in line with the ORSA (Own-Risk Self-Assessment) strategy.

As a result forward looking capabilities are becoming increasingly important for insurers. To be able to forecast, budget and plan with multiple scenarios is key for tomorrow’s insurer. Insurance companies are required to assess its material risks of all assets and liabilities and the accompanied capital requirements at least on an annual basis. Ideally continuously forecasting and planning capabilities are embedded within insurers, where ultimately the assessment links business planning with the insurers overall solvency needs.

The ORSA app, which is a projection tool of the Solvency II balance sheet including Own Funds, individual risk components and P&L can help embedding a robust ORSA process in business planning, provide reliable and insightful figures and gain insights in individual risks, own funds and capital needs.

Information

App Last Updated
Size
76 MB
Language
English
Terms & Conditions

App stats

Modules
104
Roles
3
Reports
24
Complexity
Advanced

Features

Inclusion of risk modules Standard Formula
  • The app projects the Solvency II balance sheet, P&L and Own Funds and SCR based on Standard Formula calculations for a non-life insurance company, including market risk and all its sub components and non-life risk and all its sub risk components.
Scenario capabilities
  • Easy on the fly creation of (stress) scenarios to forecast scenario outcomes and to compare the different scenarios.
Time vs scenario comparisons and analysis
  • Easy switch between comparisons and analysis between time periods and scenarios
Drill down functionalities to key drivers
  • Possibility to drill down to key drivers (of each risk component)
Flexibility of the model
  • The model is built in such a way so it is easy to add and/or replace modules with insurers own modules

Deloitte

Deloitte provides industry-leading audit, consulting, tax, and advisory services to many of the world’s most admired brands, including 70% of the Fortune 500. Our people work across more than 20 industry sectors with one purpose: to deliver measurable, lasting results. We help reinforce public trust in our capital markets, inspire clients to make their most challenging business decisions with confidence, and help lead the way toward a stronger economy and a healthy society. As a member firm of Deloitte Touche Tohmatsu Limited, a network of member firms, we are proud to be part of the largest global professional services network, serving our clients in the markets that are most important to them.

Website
Address

30 Rockefeller Plaza

New York, NY 10112-0015

United States

Email

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Terms and conditions

Anaplan

Application Terms and Conditions: BY CLICKING TO PROCEED WITH DOWNLOAD OF THE APPLICATION, YOU ACKNOWLEDGE THAT THE TERMS BELOW SHALL GOVERN YOUR ACCESS AND USE OF THE APPLICATION. IF YOU DO NOT WISH TO BE BOUND BY THESE TERMS, DO NOT CLICK TO PROCEED. THIS APPLICATION IS NOT PROVIDED BY ANAPLAN, INC. AND THESE TERMS ARE NOT OFFERED BY ANAPLAN UNLESS ANAPLAN IS NAMED AS THE PROVIDER ON THE DOWNLOAD PAGE. USE OF THIS APPLICATION REQUIRES A VALID SUBSCRIPTION TO THE ANAPLAN HOSTED SERVICE, WHICH IS ONLY AVAILABLE THROUGH A SEPARATE AGREEMENT BETWEEN YOU AND ANAPLAN. Application Provider. The application named on the download page of the Anaplan App Hub (the “Application”) is provided by the party named on the download page (the “Application Provider”). Anaplan, Inc. (“Anaplan”) is not the Application Provider unless named as such on the download page. Terms and Conditions. This agreement (the “Terms”) contains the terms and conditions governing your use of the Application unless you have separately agreed to other terms with the Application Provider. These Terms are entered into solely between you and the Application Provider and shall become effective upon your download, access or use of the Application. Anaplan is not a party to these Terms unless it is the Application Provider. Grant of Rights; Anaplan Agreement. The Application Provider hereby grants you the nonexclusive, nontransferrable, nonsublicensable right to use the Application solely in connection with your authorized use of the Anaplan hosted service (the “Anaplan Service”). Your right to use the Application does not include the right to use the Anaplan Service, which requires a separate agreement between you and Anaplan (an “Anaplan Agreement”). You are not permitted to copy or redistribute the Application, but you may load the Application into your instance of the Anaplan Service and modify the Application in connection with your permitted use of the Anaplan Service. Evaluation and Production Use. Your right to access and use the Application is provided on a temporary basis and is limited to evaluation use for a thirty (30) day period beginning on the date of download (“Evaluation Period”). If your subscription under the Anaplan Agreement includes the right to use the Anaplan Service for the use cases covered by the Application, then you may use the Application for production purposes after the Evaluation Period, or earlier if the Application Provider agrees. If you do not have an Anaplan Agreement that includes your right to use the Anaplan Service for the use cases covered by the Application, then your right to access and use the Application will automatically terminate at the end of the Evaluation Period without notice from the Application Provider or Anaplan. Reservation of Rights. The Application contains valuable intellectual property rights of the Application Provider and you are not permitted to use or exploit such intellectual property rights except as explicitly permitted in these Terms. The Application Provider reserves all right, title and interest in the Application except for the rights explicitly granted to you in these Terms. Your right to use the Application will terminate immediately upon any breach of these Terms by you, or upon the termination or expiration of your Anaplan Agreement. Either party may terminate these Terms at any time in its discretion by providing the other party with notice, at which time your right to access and use the Application will terminate immediately.

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