Actuarial Auditor
Actuarial Auditor is designed for practicing actuaries, state regulators and educators
to calculate and validate reserves and cash values. There are three versions of
the Actuarial Auditor: Premium, Standard and Free edition.
Click here to see a side by side comparison of the three different editions.
Actuarial Auditor is designed and programmed by the actuarial and programming staff
at SALT Solutions. SALT Solutions has been specializing in providing digital solutions
for actuaries since 1995. Actuarial Auditor is optimized to run using Internet Explorer
6.0 or Internet Explorer 7.0. It operates properly using Mozilla Firefox however
the formatting may change from the Internet Explorer browser. Internet Explorer
8.0 users must choose the compatibility Mode option to view the Actuarial Auditor.
We do try to support the majority of browser settings used in the actuarial community.
Any feedback that users provide is appreciated.
Premium edition
The Premium edition of Actuarial Auditor is designed for pricing actuaries to calculate
reserves and cash values efficiently for all desired issue ages. It provides
enhanced functionality to make the iterative pricing process efficient. For
example, the Actuarial Auditor will automatically modify cash values so that they
will meet minimum and smoothness requirements of Actuarial Guideline CCC (Actuarial
Guideline 45). Not only is the output available in formatted PDF reports but
it is also available in spreadsheets that can be quickly transferred to other actuarial
systems.
Standard edition
The Standard edition of Actuarial Auditor can be viewed as an independent "peer
review" and auditing web based calculation tool. The user simply enters the product
information for a single policy and Actuarial Auditor will calculate the minimum
reserves and minimum cash values. User input values are stored in a database to
be retrieved whenever needed.
Free edition
The Free edition of Actuarial Auditor provides the same calculation options as the
Standard edition. However, some of the special features are removed.
Features that are not included in the Free edition are the ability to save user
input, documentation, and support.
What's New - Version 2.1.0
Actuarial Auditor supports the smoothness test that is consistent with Section 8
of the Standard Nonforfeiture Law and reinforced in Actuarial Guideline 45. The
Actuarial Auditor has an algorithm that will determine whether a set of non forfeiture
factors exist so that a given policy is in compliance with the smoothness test.
The user only needs to enter a few simple parameters and the Actuarial Auditor will
determine whether it meets the smoothness test. Detailed reports are provided that
shows the details of the Actuarial Guideline 45 and the Smoothness Test calculation.
The user input has been expanded to allow the user to enter the cash values as a
percentage of accumulated premiums (return of premium). The Premium edition will
modify the cash values to comply with the smoothness test if the user entered cash
values do not comply.
Functionality
Actuarial Auditor supports all of the major reserving and cash value methods that
have been used in the United States since 1900. All of the mortality rates and select
factors that are commonly used are available. In addition to providing final reserve,
cash value, and net premium values, Actuarial Auditor provides detail reports documenting
intermediate steps to assist the user in their understanding how the final results
were generated.
Industry Standard
The goal for Actuarial Auditor is to be THE industry standard for statutory valuation
and nonforfeiture calculations. We work closely with experienced industry experts
to make sure that a wide variety of views are considered in our approaches and formulae.
Please contact us if you would like us to consider updates to Actuarial Auditor
to more effectively meet these goals. Also, we welcome opportunities to perform
peer review or auditing consulting services to meet your needs.
Getting Started - Actuarial Auditor
After registering for Actuarial Auditor, log in by entering your user name and password
above. The password is case sensitive. Then, click on the Traditional Life menu
and choose “premium input page” for the premium edition and “input page” for the
standard or free editions. This input page is NOT available until you have logged
in. You will be provided a form to enter your policy details and a run button that
will calculate the values and generate the reports. To sign up for the Actuarial
Auditor, register here.
Please note that you must have cookies and javascript enabled for this site to work
properly. For Internet Explorer users you cannot have your browser set to
the highest security level; it must be set at medium or lower.
Discussion Forum
As an aid to increase the industry understanding of valuation and nonforfeiture
issues, a discussion forum has been created to allow users to read and post items
to the forum. The discussion forum is free. The goal of the forum is to have high
quality, professional dialogue concerning these issues. We encourage all professionals
to read and post items on the forum. We ask that you utilize professional standards
in your discussions.
Getting Started - Discussion Forum
The discussion forum is a free service and is available to everyone. To view current
discussions without registering, click here
If you want to add entries to the discussion forum, you must register. There is
no charge for this registration process. Once you have registered, log in by entering
your user name and password. The password is case sensitive. Click on the “Forum”
menu item and choose either “Discussion Topics” or “Search”. SALT Solutions reserves
the right to edit any discussion forum entry if found that it does not meet professional
standards. To sign up to contribute to the discussion forum,
register here.
Register Today!
Actuarial Auditor is available to all licensed registered users. With increase emphasis
on auditing and peer review, actuaries can’t afford to be guessing that their calculations
are accurate. Actuarial Auditor is like having your own personal actuarial consultant.
Register today to be sure now that your valuation and nonforfeiture calculations
are consistent with industry standards! You may learn more about the history, present,
and future of Actuarial Auditor by clicking here.