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FIS Prophet from FIS Global
Prophet is a globally recognized actuarial modeling and reserving system supporting life, health, and GI insurers. It manages complex liability calculations, best estimate, and stochastic analysis, regulatory reporting (IFRS 17, Solvency II), and risk management.
Product analysis by function
Reserve Analysis Systems for Actuarial Department
Software that helps actuaries calculate and monitor insurance reserves, ensuring the company maintains adequate funds to meet future claim obligations.
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Core Reserve Calculation
(7 Yes /7 Known /10 Possible features)
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Multiple Reserve Methods Support Ability to calculate reserves using a variety of commonly used actuarial methods (Bornhuetter-Ferguson, Chain Ladder, Mack, etc.). |
Prophet supports multiple reserve calculation methods (including Chain Ladder, Mack, Bornhuetter-Ferguson) as referenced in marketing and user documentation. | |
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Custom Formula Builder Allows users to implement custom reserve formulas and tweak assumptions to fit their company’s specific needs. |
Prophet offers user-configurable modeling environments, enabling custom formula-building for specialized actuarial or reserving needs. | |
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Assumption Management Centralized management of actuarial assumptions (loss development factors, claim frequency, severity, etc.). |
Centralized assumption management referenced in official documentation and common feature in enterprise actuarial modelling tools like Prophet. | |
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Parameter Versioning Keeps track of changes to key reserving parameters and allows rollback or audit of past changes. |
Prophet maintains a version history of models, model parameters, and assumptions; supports audit and rollback. | |
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Reserve Adequacy Testing Capabilities for stress testing and scenario analysis to check the adequacy of reserves under varied conditions. |
Stress-testing and scenario analysis are core functions in Prophet's regulatory reporting and risk management toolkit. | |
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Bulk Valuation Runs Ability to process reserve calculations in bulk (e.g., many portfolios or lines at once). |
Bulk runs (batch jobs across portfolios or models) are available and used by Prophet for large scale actuarial processing. | |
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Outlier Detection Flags or highlights unusual results or potential data quality issues in reserve calculations. |
Prophet supports result validation including outlier/anomaly detection in reserve analysis workflows. | |
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Speed of Calculation The time needed to complete a standard reserve calculation. |
No information available | |
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Calculation Capacity The number of concurrent reserve calculations the system can handle. |
No information available | |
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Granularity of Calculation The finest level of data (policy, claim, line of business, coverage) at which reserves can be calculated. |
No information available |
Data Handling and Integration
(7 Yes /7 Known /10 Possible features)
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Multi-source Data Import Ability to import data from multiple policy admin, claims, and financial systems. |
Integration with multiple source systems (policy admin, claims, and financial) is core to Prophet's deployment in insurance companies. | |
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Data Validation Engine Automated checks for missing, inconsistent, or erroneous data on import or entry. |
Automated data validation and business rules can be implemented within Prophet data ingestion pipelines. | |
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Data Mapping Tools Support for mapping incoming data fields to the system’s internal schema. |
Prophet comes with ETL/data mapping interfaces, supporting mapping of various source layouts. | |
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Historical Data Support Ability to store, retrieve, and analyze historical claim and reserve data back many years. |
Full historical data storage and access for back-testing and regulatory analysis is noted in the Prophet documentation. | |
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Real-time Data Sync Supports real-time or near real-time synchronization with upstream systems. |
Prophet's infrastructure can be configured for near-real-time data sync (dependent on client setup). | |
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APIs for External Integration Available APIs for integration with other enterprise systems (finance, reporting, ERP, etc.). |
Prophet offers API integration for data exchange with enterprise systems. | |
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Bulk Data Processing Speed The rate at which the system can process imported data. |
No information available | |
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Export Formats Supported Number of supported formats (CSV, Excel, JSON, etc.) for data export. |
No information available | |
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Data Retention Period The length of time historical data is retained in the system. |
No information available | |
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Data Anonymization Provides tools to anonymize sensitive policy or claim data before export or sharing. |
Prophet enables data anonymization tools, key for GDPR and internal confidentiality. |
Reporting and Visualization
(8 Yes /8 Known /10 Possible features)
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Standard Report Library A suite of out-of-the-box reserving and compliance reports required by regulators and management. |
Prophet comes with libraries of regulatory and management reports commonly required in insurance. | |
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Custom Report Builder Interactive interface for building and modifying custom reserve and actuarial reports. |
Custom report builder and user-definable reports are major features in Prophet. | |
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Dashboard Creation Tools Enables users to assemble dashboards with key metrics, visualizations, and drilldowns. |
Reporting dashboards are configurable by users in Prophet. | |
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Automated Report Scheduling Ability to schedule regular automated report generation and distribution. |
Report scheduling and automation available in Prophet. | |
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Interactive Data Visualization Allows users to interact with charts, graphs, and tables for deeper analysis. |
Interactive data visualization is provided as part of Prophet's UI/dashboard solution. | |
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Export to PDF/Excel/CSV Support for exporting reports and dashboards in common file formats. |
Export to PDF, Excel, CSV is supported for all major reports and dashboards. | |
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Mobile Report Access Ability to securely access key reports via mobile devices. |
Prophet enables mobile and remote access to reports, subject to configuration and deployment. | |
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User-level Access Controls Granular control over which users and teams can see or customize which reports. |
User and team access controls for reports and dashboards are standard in Prophet. | |
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Report Generation Speed Time taken to generate a standard report for a typical portfolio. |
No information available | |
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Concurrent Report Users The number of users who can simultaneously generate or view reports. |
No information available |
Governance and Auditability
(8 Yes /8 Known /10 Possible features)
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Comprehensive Audit Trail Automatic logging of all key user actions and system changes with timestamps. |
Comprehensive audit logs and tracking are supported for all important actions and model changes in Prophet. | |
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Role-based Access Management Allows granular allocation of user rights and responsibilities. |
Role-based and group access management is enforced throughout Prophet. | |
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Approval Workflow Support for multi-level approval processes for key changes to reserves or assumptions. |
Prophet allows multi-step approvals for changes in assumptions or other key values, as required for SOX/regulatory compliance. | |
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Regulatory Report Templates Pre-configured templates for regulatory reporting (e.g., Solvency II, IFRS 17, NAIC). |
Regulatory reporting templates (IFRS 17, Solvency II, NAIC, etc.) are a signature feature of Prophet. | |
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Change Log Retention Number of years audit logs are retained. |
No information available | |
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Assumption Change Notification Notifies stakeholders on critical model parameter and assumption changes. |
Stakeholder change alerting is supported for changes in model inputs/assumptions. | |
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SOX Compliance Support System supports controls and workflows relevant for Sarbanes-Oxley (SOX) compliance. |
Prophet is commonly used in SOX-compliant environments and supports all critical workflow controls. | |
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Automated Documentation Generates system documentation, especially for model changes or overrides. |
Automated model and parameter documentation is available in Prophet; particularly for model reviewers and regulators. | |
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External Auditor Access Special access modes for external auditors with read-only and export-limited permissions. |
External auditor roles can be configured in Prophet for controlled, read-only, and export-limited access. | |
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Control Dashboard Provides a dashboard for at-a-glance status on compliance and recent audit events. |
No information available |
Scenario and Sensitivity Analysis
(8 Yes /8 Known /10 Possible features)
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Scenario Builder Allows creation and storage of alternative reserving scenarios (economic, regulatory, catastrophic events, etc.). |
Scenario builder capabilities are central to Prophet's economic and capital modeling functionality. | |
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Sensitivity Analysis Engine Tool to automatically analyze the impact of varying key reserving assumptions. |
Sensitivity analysis is natively supported, allowing assessment of the impact of changing key reserving assumptions. | |
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Scenario Run Speed The time needed to complete a scenario analysis run. |
No information available | |
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Concurrent Scenario Processing Number of scenarios that can be processed in parallel. |
No information available | |
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Scenario Visualization Tools Visualization tools for comparing the outcome of multiple scenarios. |
Visual scenario comparison/analytics are promoted as part of Prophet's scenario explorer and dashboard tools. | |
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Probabilistic Simulation Support Ability to model stochastic scenarios for reserve distributions. |
Supports stochastic and probabilistic simulation runs, e.g., Monte Carlo, distributional analysis. | |
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Scenario Archive Ability to retain and retrieve prior scenarios for audit and reporting. |
Scenario data and runs can be archived and retrieved for audit and review, per documentation. | |
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Key Assumption Overlay Visual overlay of key assumptions and their effect on different scenarios. |
Key assumptions are visually linked with scenario outcomes in Prophet's scenario dashboard and reporting. | |
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Impact Quantification Automated quantification of financial impact for each scenario. |
Prophet includes financial impact quantification per scenario, as evidenced by IFRS 17/Solvency II solutions. | |
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User-defined Macroeconomic Variables Allows input of custom macroeconomic factors affecting scenarios. |
Macroeconomic overlays and scenario parameters can be defined by the user. |
User Experience (UX) and Accessibility
(8 Yes /8 Known /10 Possible features)
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Modern User Interface Intuitive and easy-to-navigate interface suitable for actuarial work. |
Prophet provides a modern, web-based UI optimized for actuarial tasks. | |
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Customizable Dashboards Users can rearrange, add, or remove dashboard components to fit their workflow. |
Dashboard components are configurable by users, matching feature description. | |
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Multi-language Support Availability of the system in multiple languages for global teams. |
Prophet offers multiple language packs and is deployed globally. | |
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Keyboard Shortcuts Provides productivity-enhancing shortcuts for frequent tasks. |
Keyboard shortcuts are provided for common workflows in the web-based and desktop clients. | |
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Accessible Design WCAG and accessibility compliance for users with disabilities. |
Prophet UI design is accessible and periodically reviewed for accessibility compliance. | |
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In-app Training Modules Onboarding and training resources embedded directly within the system. |
In-app training and onboarding modules included in Prophet Learning Portal. | |
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User Feedback Loop In-system tools for users to log bugs and request improvements. |
Users can submit feedback and issues through in-app tools and community sites. | |
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Mobile Responsive Interface Adapts layout and controls for mobile screens. |
Responsive UI available for tablet and mobile via browser-based clients. | |
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Customizable Themes Users can choose themes, colors, and font sizes for accessibility and comfort. |
No information available | |
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Page Load Speed How quickly the main dashboard loads under typical usage. |
No information available |
Collaboration and Workflow
(5 Yes /5 Known /10 Possible features)
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Multi-user Collaboration Allows multiple actuaries to work on the same reserve project simultaneously. |
Support for simultaneous multi-user collaboration available, especially in Prophet Managed Cloud environments. | |
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Commenting and Annotations Users can leave comments and annotations on specific calculations or data points. |
Commenting/annotation features supported in report output, model results, and review workflows. | |
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Task Assignment and Tracking Workflow tools for assigning, tracking, and reviewing reserving tasks. |
Task management and assignment capabilities are part of Prophet's workflow suite. | |
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Version Control for Workbooks Automatic tracking and rollback of analysis files and models. |
Prophet supports full version control for model files and analyses. | |
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Change Notification System Automatic alerts to users when relevant changes are made by others. |
System supports notifications for changes and updates by others. | |
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Calendar Integration Supports integration with corporate calendars for deadline and milestone tracking. |
No information available | |
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Internal Messaging Built-in or integrated messaging platform for team discussions. |
No information available | |
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Workflow Templates Predefined templates for typical reserving processes to standardize best practice. |
No information available | |
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User Activity Heatmaps Visualize which parts of a workflow or project are most heavily used or modified. |
No information available | |
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Concurrent Users Supported Number of users who can simultaneously collaborate on workflows. |
No information available |
Security and Privacy
(9 Yes /9 Known /10 Possible features)
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End-to-end Encryption Encrypts data at rest and in transit to prevent unauthorized access. |
Prophet has options for end-to-end encryption at rest and in transit, supporting industry security standards. | |
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Single Sign-On (SSO) Supports integration with corporate identity and access management |
Supports SSO integration with enterprise identity management. | |
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Multi-factor Authentication Requires two or more verification steps for login. |
Multi-factor authentication can be enabled in Prophet enterprise deployments. | |
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IP Whitelisting Restricts logins to approved networks or devices. |
IP whitelisting and related security controls described in the security whitepaper for Prophet Managed Cloud and on-prem implementations. | |
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Field-level Access Restrictions Controls which users see what data at the field-level. |
Supports field-level controls over data access. | |
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Activity Monitoring System maintains detailed logs and alerts on suspicious activity. |
Prophet maintains activity logs and offers monitoring for security and compliance purposes. | |
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Automated Backup Frequency Frequency of system backups to prevent data loss. |
No information available | |
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Ransomware Protection Protection against data encryption attacks and rapid recovery protocols. |
Ransomware mitigation and rapid backup recovery protocols are marketed as part of Prophet's hosted offerings. | |
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GDPR/Privacy Compliance Supports data privacy standards such as GDPR, CCPA. |
GDPR, CCPA, and other privacy compliance supported through configurable data privacy features. | |
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Secure Data Deletion Ensures permanent, auditable removal of data upon request. |
Secure data deletion is offered with evidence/audit trails. |
Deployment and Scalability
(6 Yes /6 Known /10 Possible features)
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Cloud, On-premise, Hybrid Deployment Available for deployment in the cloud, on-site, or hybrid models. |
Prophet is available as a cloud, on-premise, or hybrid deployment depending on customer requirements. | |
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Elastic Compute Scaling Automatic scaling of compute resources based on demand. |
Prophet in the cloud can autoscale compute resources as described in deployment guides. | |
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Horizontal Scalability Limit Maximum number of concurrent nodes or instances supported. |
No information available | |
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Disaster Recovery Time Objective (RTO) Maximum expected time to restore service after major failure. |
No information available | |
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Zero-downtime Upgrades Supports system upgrades with no or minimal downtime. |
Prophet upgrades are managed to minimize or eliminate downtime especially in cloud deployments. | |
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Multi-region Deployment Support for deployment across multiple geographic regions. |
Global customers are supported via multi-region (e.g., EU, US, APAC) hosting options. | |
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API Throughput Sustained requests per second the API can process. |
No information available | |
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Automated Security Patch Management Automated deployment of security patches without user disruption. |
Automated patching and update management processes described in Prophet Managed Cloud documentation. | |
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Load Balancing Load automatically distributed to prevent overloads. |
Load balancing is standard for cloud and enterprise Prophet deployments. | |
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Supported Database Types Number of types of databases supported (SQL, NoSQL, etc.) |
No information available |
Support and Vendor Services
(8 Yes /8 Known /10 Possible features)
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24/7 Technical Support Round-the-clock technical support via phone, chat, or ticketing. |
24/7 technical support is available with Prophet contracts at enterprise levels. | |
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Dedicated Account Manager Vendor provides a named person as primary point of contact. |
Account managers assigned for large Prophet customers. | |
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User Community and Forums Access to user community for best practices and problem-solving. |
Prophet has a global user community, events, and forums for discussion and best practice sharing. | |
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Onsite Training Vendor-provided training at client location. |
Onsite and remote vendor-led training is available as a service. | |
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Online Knowledge Base Comprehensive searchable documentation and guides. |
Online searchable documentation and knowledge base are accessible to Prophet customers. | |
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Regular Feature Updates Frequency with which new system features are released. |
No information available | |
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Implementation Services Help with onboarding, data migration, and system configuration. |
Professional implementation/onboarding service available. | |
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Custom Feature Development Vendor offers or supports custom development for unique client needs. |
Custom development is available through services and client engagement teams. | |
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SLAs for Issue Resolution Clear service-level agreements for how quickly issues are resolved. |
Standard SLAs provided for support and incident resolution in enterprise contracts. | |
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Supported Localizations Number of supported languages/locales for documentation and support. |
No information available |
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