Product development



Our company provides full-scale services in product development from the kick-off of the project until it is finished. The services contain the premium calculation, documentation and support of the IT implementation.

  • The underlying actuarial model is set up to be in harmony with the content of the general terms and conditions and fit into the existing IT structure as much as possible. The consistency between the actuarial model and the business rules defined in the terms and conditions of the product is ensured with continuous consultations.

  • We perform the calculations using profit-test model. The premium rates and the other crucial parameters are determined taking into account the required profitability. Profitability figures (IRR, ROIC, PI,...) are calculated both on model point and on the planned portfolio volume level. Besides producing these figures, we determine the break-even too. The effect on the solvency capital is also part of the model.

  • After the calculation is finalized we prepare a detailed documentation that contains the description of the actuarial model, assumptions used, the results and the effects on the company's financial situation. Besides, we create the actuarial product plan, tariff tables and the sales-supporting materials.

  • In case the company uses Prophet we implement the newly developed product into the system too.

  • To carry out the necessary IT developments we create detailed specifications and are ready to lead the project. In order to make easier to test the business rules and processes in the system, we offer our Excel-VBA applications.

Our profit-test based pricing service is not restricted to insurance companies and pension funds.