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Iris–D
What is Iris–D?
Iris–D is a comprehensive data quality analysis and presentation solution that is focused on the data that underpins insurance balance sheets and capital requirements. Originally designed to meet the needs of Solvency II, which raised the quality thresholds, this tool can also improve your financial analysis processes, providing new insights into drivers of change.
What does it produce?
Iris–D provides you with high-level reports on your data quality and also lets you drill right down into individual fields causing problems or concerns with just a few clicks of a mouse. It links data and results together to support the regular controls and analysis processes and helps attribute balance sheet change to movements in the underlying data.
How does it work?
Iris–D runs on your systems and all of your data stays safely inside your security perimeters. You control Iris-D in a modern browser interface and this uses optimised C++ code to analyse every field of every key input file to apply business rules and seek out any anomalies. Reports come back very quickly providing insights to your browser or Excel so that you can apply your judgement on what actions may be required.
Iris–C
What is Iris–C?
Iris–C is a powerful actuarial cashflow engine that uses modern tools and techniques to simplify system development and deployment and speed up production processes. It can support Solvency II, IFRS17 and Product Pricing processes. It can replace existing systems or spreadsheets.
What does it produce?
Iris–C consumes policy, asset and assumption data and produces cashflow projections using your custom formula and our best practice library code. Supporting the results are dynamic diagrams of results, a parallel spreadsheet with identical calculations and a comprehensive automated document of each formula step.
How does it work?
Iris–C takes your formula and compiles to super-fast code that uses the AVX vectorisation in modern laptop, desktop and server CPUs. It presents results and drill-down in your browser so that you can be absolutely sure what's going on at every level. Financial model building with Iris-C does not require coding skills, just knowledge of the products and actuarial techniques.
IFRS17
Another Reporting Revolution
IFRS17 will be one of the biggest changes to insurance accounting and actuarial methodology ever seen. Some commentators believe that the effort and costs may even exceed those for Solvency II.
We have been investing in our Iris Software to meet the challenges of IFRS17 and are working with a variety of world-class insurers and advisers to ensure that our solution provides all of the key features required.
Our approach has been to build on our flexible Iris Software Platform to enable two types of deployment. First, our Iris-IFRS17 modules will work smoothly alongside your existing solutions, with minimal changes to established processes ... regardless of which existing actuarial cashflow engine you use. Second, the modules will also integrate with our own Iris-C modelling system. This flexibility allows you to choose Iris-IFRS17 where its functionality and approach is best suited to your needs, regardless of your other systems.
Please get in touch with Chris or Ross of you would like to discuss further.
Rob Green
Technical Director
Rob has over 30 years' experience in the European financial services industry. He has been a chief actuary in the UK's regulator and a partner in a big-4 firm. He is a fellow of the Institute and Faculty of Actuaries. He has worked in product development, financial reporting and finance transformation roles for major insurers.
At Green13 Rob leads all technical aspects of our solutions ranging from the colours of the interface to the arrangement of the 1's and 0's ... and all else in between. Rob is at his happiest when he's creating new functionality that everyone said was impossible.
+44 (0)7795 28 54 32
robg@green13solutions.com
Chris Martis
Solutions Director
Chris has over 15 years' experience in the European financial services industry. He has built or reviewed some of the most complex models as an independent contractor and has been a senior manager in a big-4 firm. He is a fellow of the Institute and Faculty of Actuaries.
At Green13 Chris leads the development, tailoring and sign-off of our solutions and is at the heart of our active development of new techniques and Apps to speed up and control all of the key tasks in data quality and calculations. Chris gets a real kick out of simplifying complex models and making them run faster and more accurately - particularly when that's on our new platform.
+44 (0)7305 31 05 49
chrism@green13solutions.com
Ross Waddell
Actuarial Director
Ross has 20 years' experience in the financial services industry. In that time he has worked in a number of areas in three of the top UK insurers, with responsibilities across areas such as Solvency II delivery, assessing and setting internal targets for Capital and Liquidity, Capital Projections, Corporate Transactions, Longevity Analysis, Pricing, and Model Development/Testing. He is a fellow of the Institute and Faculty of Actuaries.
At Green13 Ross leads the development of actuarial and accounting methodology for Solvency II and IFRS17. Ross enjoys his weekly five-a-side matches regardless of Edinburgh's weather nearly as much as shaping efficient solutions using Iris tools.
+44 (0)7957 968 628