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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 understood for its excessive optimisation and integration capabilities.
Moreover, Stoch Analytics has appointed Chris Stiefeling as CEO.
Most lately, Stiefeling held a task at Oliver Wyman.
Oliver Wyman associate 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 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 business.
These options embody the Atlas software program suite and the iReplicate policyholder compression software, which is designed to scale back mannequin run instances by a minimum of 90%.
Stiefeling mentioned: “Regulatory modifications within the life and retirement area corresponding to Ideas Primarily based Reserving are creating new calls for for quicker, extra superior analytical options – and Atlas is properly positioned to reply.
“Atlas is without doubt one of the quickest modelling platforms out there as we speak, which permits the insurers to optimise their monetary and actuarial assets whereas decreasing cloud spend.”
Stoch Analytics mentioned it would create, promote, supply on the market and supply help for high-performance stochastic modelling programs for the life insurance coverage sector.
These options embody the iReplicate policyholder compression software 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 purchasers, the very best modelling options for the stochastic world,” Stiefeling added.
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