Verification of Valuation Results

AZURIA / Verification of Valuation Results

“How Azuria helped a major Life Insurer verify their valuation results”

The Project – The client sought an independent model review through the build of a parallel model and comparison of results.

Project Requirements

  • Independent Income Protection expected claims projection model build tailored for client products
  • Technical understanding of Income Protection incidence and terminations interactions to calculate NPV of expected claims
  • Interpretation of complex Prophet logic and code, including iterative time-series logic
  • Comparison of test cases across both models to verify results
  • Model debugging template build and investigation Documentation of model and testing for client handover and auditor purposes

Azuria Partner’s Contributions:

  • Comprehensive Income Protection expected claims projection model built and documented
  • Testing template built and discrepancies investigated for over 200 test cases
  • Prophet logic bugs identified and escalated with client
  • Models continuously enhanced after initial build to improve usability and user-friendliness


  • Successfully verified Income Protection Prophet model and identified future fixes and enhancements
  • Reduced compliance burden due to comprehensive documentation and user-friendly spreadsheet build
  • Satisfied client experience through consistent updates provided and client feedback considered