WINDSOR, Conn., Sept. 4, 2012 (GLOBE NEWSWIRE) -- SS&C Technologies Holdings, Inc. (Nasdaq:SSNC), a global provider of financial services software and software-enabled services, today launched CAMRA I-Risk for Insurance companies to address emerging Solvency standards by combining CAMRA's sophisticated financial reporting capabilities with a state-of-the-art position-based stochastic simulation model.
"CAMRA I-Risk, a comprehensive cloud-based risk and analysis solution, is specifically designed to meet the needs of insurance company CEOs, CFOs, CIOs, and CROs," said Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. "SS&C continues to lead in the functionality insurance professionals need. From innovative bank loan processing to state-of-the-art mobility and portal technology, SS&C is determined to enhance and expand its market leading position in the insurance industry. CAMRA I-Risk comes with full web portal capabilities, including iPad/iPhone apps, leveraging SS&C's innovative "Anything, Anywhere, Anytime" development philosophy."
Using data directly from the CAMRA platform, I-Risk seamlessly delivers comprehensive risk calculations that address insurance company enterprise risk management (ERM), Solvency II for international insurers, as well as the ongoing U.S. Solvency Modernization Initiative (SMI). Risk measures include Value at Risk, Sensitivity and Stress Testing, Effective Duration and Convexity, Key Rate Duration, Projected Investment Income, Cash Flow and Fair Market Values."Solvency and accounting standards are increasing in complexity, with stochastic processes being woven into both asset and liability valuation, as well as disclosure, such as ASC 820 and IFRS 7/ASC 825. By all accounts this trend is likely to accelerate, making the integration of financial reporting and risk reporting an imperative in terms of data integrity, workflow and cost efficiency," said James Ramenda, FSA, Senior Vice President, SS&C Enterprise Risk Solutions. "The solution not only helps insurers comply with industry regulations, it helps provide the insight needed to improve risk management, make better-informed business decisions, and ensure financial stability over the long term."