Technology providers look to the cloud to meet insurers’ modelling challenges
Cloud technology potentially offers insurers an efficient way to undertake the huge amount of actuarial and risk modelling calculations that need to be performed. But with concerns around data security and reliability, is it really a fail-safe option? Clive Davidson reports
The requirements for insurers to provide ever more detailed and frequent risk analysis and capital calculations, not least for the impending Solvency II regime, place ever greater demands on technology. Affording and managing the infrastructure to meet these requirements is a burden that even the largest insurers can find challenging.
One potential solution is ‘cloud computing' - huge pools of processing and data management resources available online and on demand. The vendors of systems for
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