For the past 15 years PAS has worked with a wide range of organisations operating in the Financial Services industries ranging from regulators to advisers and household name insurers through to bespoke SIPP providers. We have provided consultancy services, packaged software and bespoke software solutions to a wide range of organisations.
We employ actuaries who write code for our solutions and developers who understand the complexities of pension legislation. Our software is used daily to support a wide range of business applications. Recent projects include:
Integrated Pension Illustrations for Wrap Platform Provider
We worked with a major household name to enable the introduction of a Wrap Platform to the UK market. The requirement was to create a web services capability that could accept and post process, returning the resulting data in XML format. The web service methods were integrated within the provider's Wrap Platform and made available to the IFA community.
The web service methods employed were required to support the illustrations needed for a regulatory or client servicing perspective. These were integrated with the Wrap Platform User Interface provided to Independent Financial Advisers together with batch processes delivering the necessary scheduled illustrations on a regular basis.
Variable Annuity Illustrations
This project was carried out for a UK provider with an American parent who was introducing a variable annuity product to the UK market. This is one of the most complex pension products available in the UK market today and the current use of our software solution here by this client demonstrates the flexibility inherent in our calculation engine.
The illustrations were deployed in two modes to support different distribution channels:
- Web Services - the illustrations were exposed as web services and integrated with the client’s adviser facing extranet.
- Back Office User Interface - the illustrations were provided with a user interface for use by back office staff
A single installed instance of the calculation engine supports both modes and delivers consistency of illustrations across the business.
Integrated Benefit Crystallisation Events
This project involved providing web services that could be integrated with back office data and processes as well as internet facing quotation systems.
This project was carried out for a UK based pension provider who required a set of web service methods that would calculate Pension Commencement Lump Sum entitlements and process Benefit Crystallisation Events. Their pension proposition included offerings targeted at the high net worth end of the market and the web service methods needed to be able to cater for all potential complications including all forms of transitional protection.
