Smaller insurers and financial organisations often face different business challenges with their actuarial models.
The actuaries typically manage their costs and calculation needs with peer-to-peer sharing of their desktop machines. However, when IT departments are small or outsourced, available technology may become outdated. There may also be constraints on installing or upgrading applications, as well as long lead-times in getting assistance. This means potentially missing out on the newer application features needed to support Solvency II, IFRS or data analytics requirements. What’s more, it can also hinder progress around improving auditability and governance.
Moving your actuarial platform to a cloud environment helps overcome these barriers.
PMCS Instant is FIS’s solution - a small-scale cloud environment using Amazon Web Services, providing instant access to a secure and scalable model environment with the latest version of Prophet Professional.
Benefit from the reduced costs of a smaller environment and more predictable software usage. PMCS Instant is easy to implement, and, as with other Prophet Cloud Services, you can grow (or reduce) your environment in step with your business’ changing needs.
See the PMCS Instant brochure for details.