Royal London, a UK-based mutual insurer, has selected Milliman Inc. to lead a transformation of the company’s actuarial systems and processes.
Milliman’s Integrate product is intended to help life insurers with the automation and governance of actuarial modeling and reporting, the company said, and is built around MG-ALFA, Milliman’s financial modeling system, and powered by Microsoft Windows Azure.
“At Royal London we want to be in a position to react quickly to market changes and new opportunities for further growth,” says Shaun Cooper, group chief actuary for Royal London. “This requires robust actuarial and financial reporting tools and processes. We sought a provider who offered us a complete solution which would meet our current and future needs. Milliman’s consulting expertise, in concert with its Integrate platform, gives us the capabilities we need to access information faster and with a greater degree of confidence to make strategic decisions.”
