Insurers are facing increasing pressure to maximize the value they can extract from their actuarial models. Actuaries and risk managers are asked to improve model performance, manage costs and related predictability, and satisfy internal and external demands for increasingly detailed insights into risk. However, managing model infrastructure and processes in-house creates an added strain on internal resources.
To help deal with these demands, FIS offers a range of cloud solutions to insurance actuarial and IT functions.
FIS Insurance Risk Suite Managed Cloud Services provide the Insurance Risk Suite applications, the hardware through trusted public cloud providers, along with the management of the system as a single service. FIS manages the application, the security and the technology platform in a secure environment. Using its experience and knowledge of model configuration, the customer’s environment is continually reviewed to maximize model performance, balancing that against the customer’s desire to minimise costs.
Such improvements in operational efficiency moreover help insurers free up expert, often actuarially qualified, resources to spend valuable time on interpreting model results in order to better inform management decisions.
As well as supporting FIS Enterprise Manager as a production system, Managed Cloud Services offer benefits for users of FIS Model Developer and the FIS Insurance Risk Suite Data Management Platform, with access to FIS' actuarial services. It also supports other applications that form an integral part of the customer’s end-to-end actuarial process.
View the Managed Cloud Services brochure for more information.