Towers Watson has launched a software integration product which enables life insurers to run their financial models on the Towers Watson cloud, giving them an outsourced-services alternative to spending on in-house infrastructure.
Towers Watson has launched MoSes Azure, a Microsoft-based cloud product which gives insurers the ability to model their financial models against an on-demand, cloud-based grid and deliver improved analytics for better management of risk and capital.
“For most life insurers, computing-resource demands for financial modelling fluctuate greatly from typical daily use to heavy use at quarter and year end,” said Todd Erkis, global life software product manager for Towers Watson.
“Insurers must decide on the appropriate level of investment for in-house computing resources. Should they invest in maximum capacity to handle peak demand, knowing they’ll have idle capacity during off peak periods, or should they invest to support typical demand, knowing they will suffer capacity constraints during peak demand?”
MoSes Azure combines Towers Watson’s actuarial modelling solution with the cloud-based software as a service model. Its constant availability gives insurers the opportunity to run their models more often for more accuracy and is offered as a solution for insurers as they prepare quarterly and annual reports, or respond to regulatory change.
