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The South African Insurance Industry Survey 2016 | 91
SAMStandardFormulaActuarialTool -
How can KPMG help?
Simplify, enable, calculate, Understand the Save SAM Submit returns
analyse and automate your SCR updated tech spec costs according to the
calculations and actuarial CPR and the impact of the and time! updated CPR reporting
submissions changes templates
The FSB has recently released an updated Develop calculation Possibly update
technical specification (“tech spec”) with methodologies systems to comply
which insurance companies have to comply consistent with the with revised
when calculating their 2016 Solvency Capital updated tech spec segmentation and
Requirement (“SCR”). The first applicable data requirements
reporting date is 30 June 2016.
This represents a challenge for most
insurance companies, as within a
short period they are required to:
The SAM Standard Formula Actuarial Tool
alleviates these challenges by simplifying
the inputs, enabling companies to comply
with the revised regulations, calculate the
SCR based on the revised tech spec, analyse
the results through the generated graphs and
tables, and automatically populate the actuarial
sheets of the CPR submission.
