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ARCHITECTING COGNITIVE ERP SYSTEMS FOR ACTUARIAL DECISION INTELLIGENCE AND SUSTAINABLE INVESTMENT MANAGEMENT

  • Unique Paper ID: 180237
  • Volume: 12
  • Issue: 1
  • PageNo: 561-575
  • Abstract:
  • Integrating artificial intelligence (AI) and analytics into enterprise resource planning (ERP) systems empowers financial services firms with enhanced decision-making capabilities. This research proposes a cognitive ERP framework that merges AI, big data, and environmental, social, and governance (ESG) criteria to support actuarial analysis and promote sustainable investment strategies. The proposed system addresses real-time needs in two key areas: forecasting insurance reserves and managing ESG-aligned investment portfolios. By embedding ESG performance tracking into the ERP core, the framework enables decision-makers to align financial performance with sustainability objectives. The study is driven by two key factors: regulatory compliance requirements under IFRS 17 and Solvency II, and the growing necessity to integrate ESG elements into financial decision-making. Methodologically, the research combines ERP design analysis with infrastructure development for AI in finance and ESG practice. A case-based validation approach demonstrates how ESG analytics modules and AI-powered anomaly detection can work within ERP systems that meet regulatory standards. The framework delivers three main contributions: a modular ERP structure connecting actuarial methods to ESG investment analytics, AI-driven anomaly detection for financial irregularities, and built-in compliance with financial regulations. Results highlight improved forecasting accuracy, reduced manual regulatory reporting, and a standardized approach for incorporating ESG criteria into investment decisions. Overall, the integration of AI and ESG within ERP infrastructure enhances decision precision and operational efficiency in financial services.
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Cite This Article

  • ISSN: 2349-6002
  • Volume: 12
  • Issue: 1
  • PageNo: 561-575

ARCHITECTING COGNITIVE ERP SYSTEMS FOR ACTUARIAL DECISION INTELLIGENCE AND SUSTAINABLE INVESTMENT MANAGEMENT

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Impact Factor
8.01 (Year 2024)
UGC Approved
Journal no 47859

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