Modelling & testing

Modelling & testing

 

R, Python, C++, C#

Cutting-edge programming languages

Our portfolio of completed projects showcases models that were developed using various modern programming languages and technologies, e.g. R, Python, C++, and C#. Every client has a particular context which has to be taken into account when choosing the right tools. Our model developers are proficient in the use of multiple mainstream languages, which ensures high quality coding and model performance. Our state-of-the-art guidelines incorporate best practices, i.e. Agile development processes, CI/CD workflow and extensive testing, all contributing to our objective.

Depending on requirements, we provide support for both in-house deployments as well as cloud solutions. Because the software we build is frequently used for solving computationally intensive tasks, we are trained to meet the strictest criteria in terms of runtime efficiency. Depending on the size and nature of the situation, this involves a variety of solutions, i.e. the distribution of calculational tasks, and single machine CPU & memory optimization.

Our involvement may vary in scale. We offer consultancy in ongoing projects as well as full end-to-end implementations, also helping to define the business requirements. Offered solutions may include user interfaces for web-applications complying with modern UX standards.

We attach particular importance to testing, which we believe is a crucial part of high-quality modelling assignments. The models we build are subject to multiple levels of testing, i.e. unit testing, integration testing, and system testing, to name a few. Our approach always considers the specifics of the modelling universe, while making advantage of the years of experience we gained in this field.

Prophet, RAFM, Algo FM

Prophet, Risk Agility FM (former MoSes), Algo FM/R3S

Our experience covers actuarial modelling work in cashflow projection models in various software packages such as Prophet, Risk Agility FM – as well as its previous version: MoSes – and Algo FM. We have exposure to a wide range of deterministic and stochastic models, used for valuation of a large scope of different products for our Polish and international clients. From this broad perspective we can create solutions that rely on the best market practice. We develop and merge existing models and build new models to suit the needs and requirements of our clients. Model migration to a platform of your choice also lies within our capabilities.

In addition to modelling, we also conduct professional tests in various systems, including administration systems, data bases, projection models, reporting tools. This helps implementing the highest possible quality of tools and functionalities. Our transparently structured testing process (Test Plan, Test Cases, Test Report) is always constructive – we not only check the correctness, but also propose specific changes and improvements in the analyzed solutions.

Model conversions

We offer model conversions for the following scenarios:

End-user computing

Over time, every company inadvertently amasses a number of high-risk EUC tools, which are prone to be affected by:

  • Human error
  • Bugs related to low code quality
  • Key-person risk
  • Low performance or inability to handle the required data size
  • Manual labour

We can provide the conversion of such solutions to either:

  • IT-managed automated models, built from scratch with current programming languages & technology;
  • a tailor-made model, using one of the market-leading specialized actuarial packages.

Proprietary licensed software

Companies can use proprietary software solutions, minimizing the effort of development work. However, they may also inadvertently introduce some new risks:

  • Vendor lock-in: a situation in which the client is no longer able to consider any alternatives due to the involuntary dependency on that particular vendor’s products and services;
  • Inflating licensing costs;
  • Difficulties in hiring staff with training and/or experience in working with the proprietary package.

To avoid such risks, the client may consider a model conversion to one of the open technologies, which can be used without recurring licensing costs and which are actively supported by a large community of developers.

Legacy applications

In case the models are using legacy technology that has reached its EOL, meaning it is no longer supported, we offer consultancy to help companies make the best decisions about their next steps.

Best tool for the job

Sometimes the development of new requirements in existing models proves to be overly time-consuming, causing it to exceed even the most liberal budget estimations. The choice of unsuitable software technology may lie at the foundations of such overruns. We help to identify those problems and give our clients advise on how to change their modelling landscape in order to decrease the costs and lead-times, while at the same time maintaining or improving the quality of the models.

 

Modelling platform selection

As an independent party – not involved in production or distribution of any of the actuarial modelling platforms – we are able to offer our clients unbiased advice in choosing the most efficient working environment. We have extensive experience in modelling and the use of the different types of actuarial products available on the market: e.g. RAFM, Prophet, Tyche, Algo FM. So, when it comes to selecting the best option for our client’s needs and expectations, they can rely on our solid advice.

We are committed to sharing our independent opinion on features as well as limitations of the actuarial software. Our hands-on experience will prove its value in increasing our clients’ further growth.

Review, validation and documentation

Due to our experience in modelling, and the use of a wide variety of actuarial software solutions, we can provide you with an extensive review of the models your company currently utilizes. This service can range from optimization, transparency, readability, and effectiveness to future maintenance issues. We can analyze existing models and advise on enhancements to improve their quality, and subsequently implement the selected improvements. We can also validate the model and verify whether it is still consistent with your requirements. Furthermore, we are able to validate the results of different models during their transition, along with providing proper reconciliation and documentation.

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