Risk Management in the Insurance Sector

Cloud-based risk management – The future of the insurance industry

Regulatory requirements for risk management are increasing, as are the volumes of data that need to be processed in a short period of time for ever better predictions. To meet these requirements, the model development process requires large and fast data storage solutions, and actuaries need to be provided with computational capacity in a targeted and timely manner. For the final calculations, an extremely large number of resources must be reliably allocated in order to run the simulations on time. All of this requires both a stable and scalable environment. In the long run, it is no longer economically viable to maintain this environment in your own data center.

The solution to this economic and technical challenge lies in the cloud, which provides on-demand resources and highly automated capabilities that address all aspects.

Your benefits

Step by step

We offer a kick-off presentation and workshop to introduce and capture the potential of your risk management solution. Based on this, we will be happy to show you the potential of the cloud by conducting a proof of concept tailored to your needs.

Keep security in mind

Data protection and data security issues are just as diverse as the technical requirements for risk management. We will be happy to advise you.

Migration support

We can help you migrate your risk management software to the cloud. We can also advise you on any other process changes.

BaFin expertise

We can help you migrate your risk management software to the cloud. We can also advise you on any other process changes.

Risk Modeling in the AWS Cloud

We help insurance companies rapidly deploy risk modeling solutions in the AWS cloud. Our expertise ranges from implementing various actuarial software in the cloud to deploying insurance-specific applications.

Talanx – Developing an integrated AWS architecture in accordance with security and compliance principles

The main problem with risk calculations is the enormous computational effort required to determine the Solvency Capital Requirement (SCR) and the Minimum Capital Requirement (MCR). These methods use the so-called internal model, which can provide much more accurate and higher quality results than the standard formula, mainly through Monte Carlo simulations. Especially when quarterly and annual financial statements of several Talanx companies are due at the same time, the high computational effort can lead to bottlenecks within IT. It seems therefore logical to outsource these calculations to the cloud. In addition, this solution must meet the high security levels of the existing environment and corresponding procedures.


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