AKS
AKS (Actuarial Knowledge System) offers an effective solution for composing and calculating actuarial formulas for life and disability insurance. Actuarial factors, composed of internationally standardised actuarial symbols, can be calculated in the traditional way, based on life tables, or based on the calculation technique with Markov chains. AKS has been developed as component based on the IBSEN concept of Practis.
Actuarial Business Tool
Actuarial experts often use Microsoft® Excel, in which each person manages his/her own (programmed) formulas. The link between AKS and Excel enables users to directly call formulas defined within AKS in Excel, in which one can use f.e. assumptions and interest rates in a flexible way. Through this, making prognoses and other calculations in Excel is simplified. Also the uniformity and controllability of the formulas have been optimised.
Actuarial Component
AKS can also be integrated as a component with existing or newly to be developed information systems. This way the actuarial expert can influence actuarial calculations by operational information systems.
AKS:
- fits the way of working and thinking of the actuarial expert
- manages actuarial formulas for various applications in one place
- reduces software maintenance; no need to integrate actuarial formulas within the programming code
- increases flexibility, shortens Time-to-Market
- facilitates application/spreadsheet development through integration in Microsoft® Office
- is a powerful tool for the actuarial expert.
AKS References
AKS is in use at:
- Delta Lloyd Life (formerly Swiss Life Belgium)
- Delta Lloyd (the Netherlands)
- Generali (the Netherlands)
- Linedata Services Assurance (France)
- De Eendragt
- Achmea
Special Arrangements for Universities
To support the training program AKS is also offered to universities. We offer universities an attractive arrangement on the use of AKS.
Is your university interested in AKS? Please send an e-mail to aks@practis.com.
