As insurance industry regulatory requirements expanded and the financial reporting requirements for compliance increased, Moody’s Analytics recognized that providing a pathway to support an exponential increase in demand for compute capacity would be critical for its customers.
“Actuarial systems need a very high level of compute for calculations that are required to meet industry regulations such as the International Financial Reporting Standards. We had to scale our distributed processing engine to perform these calculations in the elastic cloud environment, as in many cases they can no longer be completed on-premises."
- Victor Rubinstein, Senior Director of Technology at Moody's
We adapted our AXIS GridLink software to run on thousands of cores in Microsoft Azure, creating a risk simulation compute platform called GridLink-as-a-Service (GlaaS), underpinned by Azure Virtual Machines and Azure Virtual Machine Scale Sets.
In the following webinar, we also discuss the challenges of the evolving life actuarial function, and the success of working with Microsoft to deploy our actuarial modeling solutions in the HPC Cloud in order to access, manage, and exploit unlimited compute power. This allows insurers to achieve critical calculation outcomes faster and more economically, leading to more informed financial risk modelling and decision making.
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Moody's AXIS Actuarial Modeling System
We provide actuaries with sophisticated, integrated analysis of assets and liabilities, the ability to easily compute results under multiple bases, and fast, efficient calculations that deliver timely results.