The Standard Life Assurance Company of Canada has adopted Aon Benfield's variable annuity risk management business solution PathWise platform, to further improve the management of financial risks.
Aon said that PathWise solution, developed by its Annuity Solutions Group (ASG), will support new product development, financial and regulatory reporting, enterprise risk management activities, and hedge program management and reporting.
The PathWise platform has been customized to address the business needs and specifications of Standard Life Canada, and allowed it to implement a new hedging platform, including daily autonomous performance attribution reporting.
The key feature of the solution, PathWise SRT (Seriatim Real-Time Tool) features a real-time risk dashboard that receives live data feeds and analytics and displays or plot all of the real-time risk measures of a hedging program.
PathWise Analytical Studio features is a fully integrated IDE that interacts with all the liability models, scenario generators, inforce data and assumptions. Analysts can run what-if analysis, stochastic-on-stochastic simulations plot and analyze results.
PathWise Modeling Studio feature allows users to create their own liability cash flow models and then deploy the models to a grid.