Towers Watson Introduces Life Insurance Financial Modeling On A Cloud Computing Grid
Towers Watson (NYSE, NASDAQ: TW), a global professional services company, has launched MoSes Azure, a new software integration product that enables life insurers to run MoSes financial models in Microsoft Windows Azure Cloud Services. Insurers can now run their models against an on-demand, cloud-based grid, providing massive computing resources without the standing costs of in-house infrastructure. The ability to access extra compute power as needed will help insurers improve their financial modeling analytics for better management of risk and capital.
“For most life insurers, computing resource demands for financial modeling fluctuate greatly from typical daily use to heavy use at quarter-and year-end,” said Todd Erkis, global life software product manager, Towers Watson. “Insurers must decide on the appropriate level of investment for in-house computing resources. Should they invest in maximum capacity to handle peak demand, knowing they’ll have idle capacity during off-peak periods? Or should they invest to support typical demand, knowing they will suffer capacity constraints during peak demand? It’s a very difficult decision.”
With the introduction of MoSes Azure, insurers can now run their MoSes models distributed either in-house with MoSes HPC, in Windows Azure Cloud Services with MoSes Azure or in a seamless combination of both. “Insurers can get exactly the resources they need for timely financial analytics without choosing between investing in idle resources or facing insufficient computing capacity,” said Erkis.
MoSes Azure takes full advantage of the security features available in Windows Azure Cloud Services. Microsoft has achieved a variety of security compliance audit certifications with Windows Azure to give users confidence that their data is safely guarded during transmission, storage and processing in the cloud. Further, Windows Azure runs in geographically dispersed data centers managed and operated by Microsoft, delivering a 99.95% service-level agreement for high availability while freeing the insurer from the burden of maintaining the infrastructure.
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