General description of system
Towers Perrin offers three products: MoSes and RiskAgility and RiskAgility PC.
MoSes is a desktop actuarial and financial modelling solution for insurance companies writing life insurance, pensions and health insurance and can be used for all financial modelling purposes. These include valuation, embedded value, product pricing, profit testing, solvency reserve calculations, economic capital, statutory reporting, risk management, asset-liability modelling and corporate modelling.
RiskAgility is Towers Perrin's new enterprise financial modelling platform. RiskAgility is built on a Microsoft enterprise technology platform and has a common management environment that enables centralization and execution of both RiskAgility applications and other financial modelling applications such as MoSes.
RiskAgility P&C is a specialist desktop application for P&C insurers for undertaking dynamic financial analysis and risk modelling.
Functions performed
MoSes is our mainstream modelling engine for general purpose financial modelling and projection. It is used in a range of industries & markets including insurance, mutual funds, pensions, health, and banking.
MoSes is used for many modelling purposes such as valuation, embedded value, product pricing, profit testing, solvency reserve calculations, economic capital, statutory reporting, risk management, asset-liability modeling, corporate modeling. It does not have an operational risk capability.
RiskAgility P&C can generate financial statements and cash flow analysis and includes a wide range of functions such modelling insurance risk. It also provides an easy-to-use import functionality which allows third party catastrophe models from major vendors to be incorporated into the model. In conjunction with the flexible reinsurance model and rich reporting, companies can investigate their exposure to extreme insurance events.
Specific Solvency II features
MoSes is used by many clients as their main projection engine and can handle internal model development for the purposes of Solvency II. To supplement this we have an Economic Capital calculation, aggregation and allocation engine that, if required, operates in conjunction with MoSes.
This Economic Capital engine operates on our RiskAgility platform which as well as handling economic capital calculations also provides improved risk management by virtue of its centralized, integrated, auditable, automated and managed technology It also provides a centralized database and analytics to ensure that information required for the use test is made available to the enterprise as a whole
Specifications
MoSes is a desktop modelling environment operating on a Windows platform. We have recently added the capability to run MoSes models on Microsoft's HPC technology to provide the robustness and power required for complex stochastic modelling.
RiskAgility is our next generation risk/actuarial modelling platform designed for enterprise wide deployment. RiskAgility is built on Microsoft technology utilising the .NET framework and other complementary pieces of the Microsoft product set.
RiskAgility P&C is a desktop solution that is also built utilizing the .NET framework and other complementary pieces of the Microsoft product set.
Licensing/sales/support
MoSes, RiskAgility and RiskAgility P&C are all available on a prescribed licence basis and a fee is levied to support the product and provide point releases. The software can be used by the relevant people within the organization once they have been trained.
Additionally we have a comprehensive consulting service to support clients on all aspects of actuarial modelling and associated work including Solvency II, mergers & acquisitions, economic capital and reinsurance.
Types of user
Typical users are actuaries and financial modellers in life and P&C insurance, mutual funds, pensions, health and banking operations.
Areas/countries with the most users
Over 300 financial institutions use MoSes globally. We have large concentrations of clients in Europe, North America and Asia-Pacific, with a number of customers in other regions such as the Middle East, Africa and the Americas.
Contact person and details
Brian Heale
Brian.heale@towersperrin.com
Tel: 0207 170 2565
Channels:Software - IT
Companies:Towers Perrin
