The demanding regulatory environment increasingly places challenging stipulations around the number of model runs required and the timeframe in which results are to be produced. Combined with the ever-increasing volume of data that most insurers wish to process this can drive the need for a scalable model solution.
Modelling platform migration is a process that provides significant benefits to the business and allows you to realise the full potential of your modelling capability. It’s not so much about new features, but more about cost savings, risk mitigation, innovation and faster delivery.
Spreadsheets are a much-loved tool within the actuarial community. A recent survey conducted by the Institute and Faculty of Actuaries found that 98% of respondents use Microsoft Excel to perform various day-to-day tasks. But how useful are they?