Life insurer automates liability change analysis

The customer

The customer is a leading Australian financial services provider offering a wide range of life insurance and wealth management solutions. With over A$10 billion in annual revenue and a workforce of more than 14,000 employees, the organization plays a key role in protecting and supporting millions of Australians through its products and services.

Challenge:

Understanding and explaining movements in insurance liabilities is acritical but complex task for the insurer. The process is manual and time consuming, making it difficult to predict trends or provide timely insights to management. Due to these limitations, the analysis is typically performed only once a year—restricting the business’s ability to respond to changes proactively.

The underlying data involves millions of records and intricate transformations, increasing the risk of errors and inconsistencies. Without proper visualization tools or drill-down capabilities, it’s challenging for analysts to investigate fluctuations in liability figures. In addition, there is limited exception reporting and validation, which hampers confidence in the outputs and creates a dependency on a small number of experts familiar with the process.

Solution:

To address the limitations of the manual process, the insurer implemented an automated solution using the Solvexia platform. This solution iteratively analyzes changes in model point data, runs the valuation model, and quantifies the impact of each change on calculated liabilities. By automating the end-to-end workflow, the process ensures accuracy, consistency, and repeatability across large, complex datasets.

The solution transforms a wide range of data—including reinsurance, commissions, policyholder attributes, sum assured, and benefit details—through more than 80 automated steps. Solvexia delivers outputs via Excel reports and an interactive online dashboard, giving users the ability to drill down into records and visualize the drivers behind liability movements. Built-in exception reporting and validation checks further enhance control and transparency.

Results:

With Solvexia in place, the insurer now conducts monthly liability change analysis, replacing a manual process that was previously limited to once a year. The automated workflow completes in under 20 minutes and processes millions of datapoints efficiently and accurately.

By standardizing transformations and embedding exception handling, the solution reduces the risk of errors and eliminates reliance on key individuals. Deployed in under three months, Solvexia has significantly improved the insurer’s ability to deliver timely insights to management, support regulatory and financial reporting, and strengthen actuarial governance.