Eire-based personal firm Stoch Analytics has acquired the Atlas software program suite from international administration consultancy Oliver Wyman.
Atlas, a cloud-based actuarial modelling platform, is utilised by life insurance coverage corporations throughout the US, Canada and Europe for pricing, valuation and asset-liability administration.
The platform is understood for its excessive optimisation and integration capabilities.
Moreover, Stoch Analytics has appointed Chris Stiefeling as CEO.
Most not too long ago, Stiefeling held a task at Oliver Wyman.
Oliver Wyman associate Alex Lyall mentioned: “We’re delighted to announce the sale of Atlas, and excited concerning the appointment of Chris as CEO of Stoch Analytics. Oliver Wyman, and Oliver Wyman Actuarial consulting, will proceed to associate and work with Stoch Analytics on a go-forward foundation.”
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Stoch develops, markets, sells and helps modelling options for the life insurance coverage trade.
These options embody the Atlas software program suite and the iReplicate policyholder compression instrument, which is designed to cut back mannequin run occasions by not less than 90%.
Stiefeling mentioned: “Regulatory adjustments within the life and retirement house comparable to Ideas Based mostly Reserving are creating new calls for for quicker, extra superior analytical options – and Atlas is effectively positioned to reply.
“Atlas is among the quickest modelling platforms accessible right now, which permits the insurers to optimise their monetary and actuarial assets whereas lowering cloud spend.”
Stoch Analytics mentioned it’s going to create, promote, provide on the market and supply assist for high-performance stochastic modelling techniques for the life insurance coverage sector.
These options embody the iReplicate policyholder compression instrument and the flagship Atlas software program suite, which is used to mannequin insurance coverage asset and legal responsibility portfolios.
“Regulatory and different market calls for are requiring life insurers to carry out rising quantities of complicated modelling every day. Our mission is to proceed to ship, to our present and future purchasers, the perfect modelling options for the stochastic world,” Stiefeling added.
