Syntegs and RNPK summed up the results of the first year of work in the Calculator 781-P

2024: Results of the implementation of the "Calculator of 781-P"

Syntegs and RNPK summarize the first year of work in the 781-P Calculator. Sintegs announced this on April 2, 2024.

The methods developed on the project formed the basis of the settlement program, which is used by more than 10 leading insurance companies.

Until the spring of 2023, the reporting was different. Therefore, we set a common task - to ensure the calculation of reporting indicators for insurance reserves and NRMP according to the new formulas of Regulation 781-P, as well as the preparation of the amended form 0420155, - said Igor Galakhov, head of the department of actuarial settlements of JSC Russian National Reinsurance Company.

The RNPK team was actively involved in testing and improving the program. Evgeny Mezentsev, Development Director of Sintegro Consulting LLC, notes that thanks to the user vision of colleagues from the RNPK, additional controls of source data, verification for completeness and quality, reference calculations (decryptions of DPUF), summary tables were added to the capabilities of the Calculator. Joint work on the program together with the insurer made it possible to invest practical experience of market participants in it, making the final product more convenient and transparent.

The project to install the 781-P Calculator to automate the design processes in the RNPC included several stages:

• coordination of the composition and structure of incoming data and sources of their loading;
• connecting the Calculator to Syntegs and Interfax Ru-Data web services to download information on counterparty ratings;
• Set up integration with the actuarial module of the company
• automation of calculation of insurance reserves in accordance with Regulation 781-P;
• Auto-complete form 0420155 in XBRL format
• uploading the completed form to the XBRL Factory for subsequent assembly and validation of the complete reporting package.

As of April 2024, the assembly of the form 0420155 in the RNPK is as automated as possible. According to users, the calculation process still requires additional checks, since the product is regularly updated: the Central Bank makes changes to regulations, the vendor refines and implements functions, corrects errors that arise.

We regularly check which of the "old" features have changed during the upgrade. In general, we assess the work of the team on the project and the support team positively. Feedback, as a rule, comes quickly. Critical errors are quickly corrected or an alternative path is proposed before elimination. In general, the program covers exactly the goals and needs that we set for it, - said Igor Galakhov, head of the department of actuarial settlements at Russian National Reinsurance Company JSC.