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Eire-based non-public 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 firms throughout the US, Canada and Europe for pricing, valuation and asset-liability administration.
The platform is thought 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 companion Alex Lyall mentioned: “We’re delighted to announce the sale of Atlas, and excited in regards to the appointment of Chris as CEO of Stoch Analytics. Oliver Wyman, and Oliver Wyman Actuarial consulting, will proceed to companion 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 device, which is designed to cut back mannequin run occasions by at the least 90%.
Stiefeling mentioned: “Regulatory adjustments within the life and retirement area equivalent to Ideas Primarily based Reserving are creating new calls for for sooner, extra superior analytical options – and Atlas is nicely positioned to reply.
“Atlas is likely one of the quickest modelling platforms out there at present, which permits the insurers to optimise their monetary and actuarial sources whereas lowering cloud spend.”
Stoch Analytics mentioned it would create, promote, provide on the market and supply help for high-performance stochastic modelling techniques for the life insurance coverage sector.
These options embody the iReplicate policyholder compression device 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 advanced modelling each day. Our mission is to proceed to ship, to our present and future shoppers, the most effective modelling options for the stochastic world,” Stiefeling added.
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