THE AXIS EXPERTS
Valani Global was established in 2019 by Nazir Valani and Sarah Valani to support life insurance companies in achieving their financial risk management goals through a focus on actuarial modeling, financial reporting and implementations of Moody’s Analytics solutions. Collectively our team has over 100 years of experience with AXIS with an emphasis on end-to-end AXIS implementation services.We are building a powerhouse of AXIS experts who focus exclusively on Moody’s risk management software,
- AXIS™ US GAAP Link
- AXIS™ IFRS 17 Link
- RiskIntegrity™ IFRS 17
AXIS™ is an exceptionally flexible vendor-maintained software system built to accommodate the needs of a large number of clients across the world in multiple actuarial functions. This robust and flexible framework allows Moody’s to quickly and efficiently perform changes or upgrades which benefit all users. Such flexibility offers a significant advantage because a necessary change is made once, with the full benefit of different company interpretations. It is then tested by the vendor and its many users and is implemented by a professional software team. In addition to its flexibility, AXIS™ offers speed, functionality, integrity, consistency, and value. Being an end-to-end solution, AXIS™ can meet all the actuarial software needs of a company.
How Long Does a Conversion to the AXIS System Take?
The answer to this question depends on many company-specific factors, including:
- Number and types of plans
- Complexity of the business
- Ease of getting information from the current system
- Expertise of the internal staff regarding the products and the current system
- Availability of internal staff to work on the conversion
- Knowledge and experience of the external partner to help lead the AXIS™ conversion
Valani Global staff have facilitated 100+ conversions to AXIS™. Implementations vary from 3 to 4 months for a simple conversion to 18 to 24 months for more complex conversions. It is essential to carry out conversions in micro pieces to gain early wins, keeping the team motivated and senior management supportive of their progress and ultimate goals. In that regard, setting up a steering committee with key stakeholders is indispensable.
We have used the Agile methodology with daily Scrums conducted by a Scrum Master for some of our larger projects. Two to three-week Sprints tend to work best. In general, we prefer to use a hybrid approach that incorporates the best of Agile and traditional project management methods. Agile is a great way to manage large projects; however, we must adapt the approach to account for instances when we need to meet strict deadlines. It helps to recognize that some tasks need to move to a day 2 implementation list to complete the critical work and meet key deadlines.
Aspects of Our Modern Project Governance Capabilities
We manage the requirements and processes necessary to complete projects successfully, and any changes that may occur during the execution of the engagement. A well-defined scope is communicated clearly and understood by all stakeholders.
We manage resources, activities, and schedules within a Project Plan to ensure the successful delivery within the timelines of the engagement.
We manage the estimated time to complete and the remaining budget to ensure that the project is completed within the agreed upon cost of the engagement.
Involves keeping all stakeholders adequately informed throughout the project. Communication is a mix of formal and informal and is proactive in nature.
We manage the identification, analysis, and response planning of each project risk that occurs during the project. Project risk can be related to an uncertain event and may positively or negatively impact the project.
This is provided informally through collaborative discussions and information-sharing sessions, which include but are not limited to technology, methodologies, and best practices. We will also provide written documentation for work performed.
Monitoring & Reporting
Our approach is time and material with an approved budget by phase, and weekly monitoring and reporting, so there are no surprises. The reporting includes:
- Remaining budget from the previous week
- Consulting cost for the week
- A description of the work performed over the week
- Week’s end remaining budget
Why Partner With Valani Global On Your Conversion To AXIS?
Valani Global is a niche consulting firm that solely focuses on Moody’s risk management software solutions. We are also part of the Moody’s Global PartnerAlliance program, an expert network that offers delivery and support options for Moody’s Analytics clients.
Using our expertise, we have performed 100+ transformations from different data sources to Moody’s software solutions, including AXIS™ and RiskIntegrity™ for IFRS 17.
The majority of our consultants are fully certified in RiskIntegrity™ for IFRS 17. We do not hire juniors who learn on the job at your expense.
Once a resource is allocated to a client, they will remain dedicated to the project until completion.
The success and satisfaction of our clients are paramount to us. We will work hard to ensure that our work meets or exceeds your standards.