Our client is a consolidator who regular buys companies in run- off. Being able to calculate their SF calculation quickly and reliably is key to them when assessing a potential acquisition.
Psicle gives them the ability to run their SF calculation transparently and quickly and removes their dependency on a range of opaque spreadsheets that contained significant approximations. Our client now has one Psicle model which calculates their Solvency II results (including Technical Provisions) and runs end-to-end in 2 minutes. To model a new block of business they just add the additional business to their input file and specify a series of switches that determine the legal structure. This allows them to run a range of possible scenarios quickly, transparently, confidently and without approximations.
Our client’s key man dependency has reduced significantly due to the intuitive nature of Psicle and the way the model is designed. Psicle models are shown using flow-diagrams and have visual graphical user interfaces, making data dependencies clear and allowing users to understand how a change will impact the rest of the model.
This client’s TP and SF has passed external audit.