AnnuitySystems.com

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Annuity Systems Inc.: risk management software for equity-based investment products

Description

During the last decade, in order to compete with investment products offered by retail banks, a growing number of insurance companies have started offering their own investment related products to their clientele. These products take the guise of equity linked annuities, segregated funds, variable annuities, (European) unit linked products, and guaranteed investment certificates; which are many times loosely known as equity-based products. In offering such products, insurance companies have been forced to step beyond their traditional role and accept derivatives risks that combine market risks, mortality risks and lapse risks. The success of these products combined with the lack of reinsurance and heavy regulatory requirements has forced many writers to either self-insure and/or look for alternatives to reinsurance.

However, given the consequences of running naked and the general unavailability of reinsurance, the only viable option presently open to an insurer is to do some sort of hedging. To do this, these companies must be able to assess, quantify, monitor and manage risks periodically. The implication of this requirement is the need for a good powerful, illustrative, interactive, user-friendly system that can help any writer look at the business holistically.

Founded in May 2000, Annuity Systems Inc. (ASI) is the brainchild of Dr. K. Ravindran, a pioneer in holistic risk management and a leading expert in the world for quantifying, managing and monitoring equity-based investment product-related risks. ASI’ s mission is to create a comprehensive risk-management system that allows any user to easily analyze the exposures and manage them. To help with this pursuit, ASI carefully hired a group of professionals whose background ranged in diversity from trading, risk-management, mathematical finance, mathematics and actuarial science, to programming, psychology, physics, human factors and software interaction design.