Mutualidad has been a customer of our modeling solution for 10 years, and naturally turned to Addactis to support them in their new project about the implementation of IFRS 17.
A relationship of trust has now been established between Addactis and Mutualidad. Read more about this insurance company’s experience.
Step 1: modeling platform
For their first project, Mutualidad needed a modeling solution that would enable them to develop their own models.
They opted for our modeling platform to meet all their needs and market expectations:
- A very performant calculation engine
- A flexible modeling platform
- A platform to design and maintain models easily
- A platform to run quickly and safely models several times
- A tool to help analyzing results
- A models library
We have been using addactis® Modeling for almost 10 years and have found in Addactis a reliable partner. Their modeling platform has not only proven to be a robust and efficient technical solution, but has also been essential in our daily operations. The flexibility of the tool and the constant technical support have been key factors in maintaining a long and fruitful relationship with Addactis.
Step 2: IFRS 17 project
To comply with IFRS 17, Mutualidad wanted to implement a solution. They naturally turned to Addactis to support them in this new project.
In the context of the implementation of IFRS 17, Addactis stood out as the natural choice to accompany us in this new regulatory challenge. Their extensive knowledge in the actuarial and financial fields, coupled with their previous experience with regulatory models, gave us the assurance that we were in the hands of experts.
Our assembly concept between actuarial & financial software is designed to fit to all types of players (International or local), all lines of business (Life & Health or P&C) and all levels of preparation in the IFRS17 compliance project.
A relationship of trust between Mutualidad and Addactis
Supporting our customers in their various Regulatory & Profitability projects is a key priority for Addactis. Our teams are available on a daily basis to offer our trust-clients the best possible services, based on market-recognized solutions.
The flexibility of their technical solutions and their ability to adapt to our specific needs were differentiating aspects that led us to select them over other suppliers in the market. Addactis has not only proved to be the right partner to face this regulatory change, but, given our experience with their modeling platform, we consider them to be the ideal choice to expand our collaboration into new areas.
In this way, we have started with the transition from an exclusive use of modeling and the rest of the Addactis ecosystem to the IFRS 17 end-to-end solution, with the certainty that Addactis will continue to provide the necessary support for our business evolution.
Find out more about Addactis Platform
Today, we support all players in the insurance industry in their projects, through our Platform, an integrated SaaS solution, covering both regulatory and profitability scopes.
About Mutalidad
Mutualidad is a Fixed Premium Mutual Benefit Society created in 1948. As a non-profit insurance company, it offers mutual members and their families solutions to cover all their pension, savings and investment needs. Mutualidad offers insurance modalities of a voluntary, complementary and alternative nature to the public Social Security system. In addition, since 2021, professionals in the fields of industrial and aeronautical engineering and ICAI graduates can join Mutualidad to cover their mandatory social security needs as an alternative to the public Social Security system.
In addition, they offer complementary protection to their members through accident and health insurance.