THE ASK
How can my finance team save time on complex insurance compliance reports?
As a European company, the life insurer was struggling to meet Solvency II and IFRS 17 requirements, which include regular, detailed reports that analyze cash-flow projections, explain changes in financial figures, and flag discrepancies across multiple accounting standards. Producing these reports had become a labor-intensive manual process, with tight deadlines and growing complexity making it harder to deliver the depth of analysis company leadership and regulators expected.
THE SOLUTION
Milliman built a custom generative AI system to automate report production and enhance financial analysis at scale
Milliman developed a generative AI solution with three core capabilities:
- An enhanced control system was deployed directly on cash flow projection model outputs, enabling automated, large-scale reviews that would catch anomalies before they caused downstream problems.
- The system integrated business intelligence to perform sophisticated analyses of financial results, automatically identifying key trends and explaining value movements in plain language.
- The solution auto-generated polished PowerPoint decks containing both the control results and the expert analyses. Without the work of manual assembly, staff had reports that were ready for review, so they could quickly prepare a memo for the C-suite.
THE OUTCOME
90% faster report production, broader financial controls, and deeper expert analysis
The deployed solution delivered gains across every dimension of the reporting process. Production of PowerPoint materials—previously one of the most time-consuming tasks—became 90% faster, freeing analysts to focus on interpretation rather than assembly. The scope of the insurer’s financial controls expanded significantly, as the new system could run checks instantly and at a scale that would have been impractical manually. And the quality of analysis also improved: The AI tool surfaced key highlights and explained value variations with a level of consistency and depth that was difficult to sustain under previous production timelines.
