Milliman s Integrate Solution Awarded Best Use of Cloud by Risk.net
SEATTLE, Feb. 9, 2021 /PRNewswire/
Milliman, Inc., one of the premier global consulting and actuarial firms, today announced that its flagship technology solution for life insurance, Integrate
, was awarded Best Use of Cloud in the Risk Markets Technology Awards 2021. The awards, organized by Risk.net, honor top achievements across market risk, trading, and investment risk technologies.
Integrate represents a paradigm shift within the actuarial industry, delivering a comprehensive SaaS-based approach to managing all aspects of the actuarial value chain. Fully engineered to be cloud native, Integrate combines broad functionality, professional services, and operational support into a single platform.
Risk.net
Tech vendors played a key role as markets – and market participants – adjusted to Covid-19
Risk.net montage
A year into the Covid-19 pandemic, it is clear that the technology sector has been one of the big beneficiaries of changing consumer and corporate behaviour. That doesn’t mean it’s been easy for tech providers to embrace the opportunity.
As an example, take the surge in cloud usage driven by a newly minted army of home-workers: Microsoft saw usage of its Teams videoconferencing and collaboration application skyrocket, as well as its virtual desktop and Xbox Live gaming, creating unprecedented demand for its Azure cloud platform on which these applications operate. In addition, Microsoft had to hive off capacity for organisations providing emergency, medical, research and other pandemic responses.
Risk.net
01 Feb 2021
Pat Renzi, Milliman
In response to increasing demand from insurers for a comprehensive system covering all aspects of the actuarial value chain, Milliman re-engineered its MG‑ALFA actuarial software to create Integrate, a software-as-a-service solution fully engineered for the cloud that combines broad functionality, professional services and operational support.
The single platform supports not only actuarial calculations but also front-end data management consistent with the calculations, as well as governed and controlled end-to-end processing of complex workflows, scalable and low-risk computing, and fast and easy-to-use back-end reporting and data visualisation.
Integrate operates on Microsoft’s Azure cloud. The scale of the computational demand from clients requires Integrate to schedule jobs across the globe. This multiregion approach guarantees the solution can meet regulatory timelines in light of regional availability issues, as seen earlier