Why are software packages more and more important for actuaries?

Productivity of actuarial work is a constant concern for insurance executives. Actuarial resource and knowledge are scarce and can be expected to remain so. Consequently, the best use of these resources is of the utmost importance for the C-suite.

Experience shows that the two pillars of productivity in actuarial work (existence of organized libraries of calculations and documentation of each and every calculation) are rarely found in companies.

This is why it could be achieved more easily with actuarial software. For example, ADDACTIS IBNRS®, the reserving software of ADDACTIS Worldwide®, embeds these two aspects.