Enterprise Risk Management Technology Guide 2023/24

Montoux: Actuarial expertise combined with automation

How can Montoux’s technology help life and health insurers?

Stephen CarlinThe heart of what we do is our actuarial automation platform. The philosophy behind it is we think actuaries spend far too much of their time working around the limitations of the software they use.

We want to give actuaries the tools to unleash their potential to do much more strategic and value-added work, rather than handle-turning and operational work.

Currently, traditional actuarial work very much overlaps with data engineering, data science and data analytics. The platform we have built brings together the ability to do data engineering, data science and use artificial intelligence, as well as the ability to do core actuarial modelling, and wrap that up with automation.

What technology trends do you expect to shape the life and health insurance market?

The big trends are cloud technology, automation and data. These have been major topics over the past few years, and they will continue to be big trends going forward.

What you see now is that companies that are navigating this environment are starting to gain significant commercial traction.

Underwriting and claims processing are two of the areas where we have probably seen some of the biggest advances with machine learning and artificial intelligence accelerating those processes, and particularly in the property and casualty insurance space.

We are also starting to see a lot more traction from life insurers trying to adopt those technologies and techniques.

How do you expect actuarial risk modelling to change in the next five years?

One of the other things we expect to see over the next few years is insurers re-evaluating their processes and systems. They have been in “project mode” for at least 10 or 15 years and there has been a focus on having something that works in time for deadlines. As the focus shifts from the last round of go-live updates for regulatory-driven changes  like LDTI or IFRS 17, hopefully insurers will get the time to take a breath and consider whether the kit they are using is what they want to use in the long term.

What advantages can cloud technology offer life and health insurers?

The early forays into the cloud very much focused on computational scaling. But this is really only scratching the surface of what cloud can do. It can deliver insurers a lot more agility, the ability to scale-up capacity, on-board new technology or the ability to analyse a bigger data set. The cloud therefore offers great flexibility

You will start to see a much bigger differentiation between systems that were developed to be cloud native, versus the early “lift and shift” models.

What insurance technology improvements has Montoux offered insurers in the last year?

We are architected on the Amazon Web Services platform and we have worked very closely with the Amazon team to take advantage of the latest and greatest services available.

One of the biggest costs for an insurer has been in migrating from one actuarial risk modeller to another, so we are doing a lot of work to streamline that process.

We have built a proprietary modelling language, which means that, combined with some of our cloud-native enterprise functionality, we offer flexibility to create models within a robust control framework.

Also, we have much more of a workflow view of the world and not just a focus on core modelling. We therefore provide end-to-end automation capability.

Guide entries by Montoux

FactSet Data & Analytics Solutions


Pricing - Tyche Pricing System & Aon Pricing Platform

Reserving - Tyche Reserving System

Aptitude IFRS 17 Solution

Aquantec Ocean

Atidot AI & Analytics Platform - Atidot OPTIMAL




With Profits Payout Monitoring Dashboard

Demographic Experience Monitoring Tool

ATOME: Particles

ATOME: Matter

ADVISE® Enterprise Risk Modeler

Conning Allocation Optimizer™

Conning Climate Risk Analyzer™

FIRM® Portfolio Analyzer

GEMS® Economic Scenario Generator


Detech Optimizer


Dynamo Analytics - Psicle

Incisive Essentials - Xcellerator


Milliman Mind


Solvency II Compliance Assessment Tool

STAR Solutions NAVI

STAR Solutions VEGA

Milliman Mind–IFRS 17



Nodal Claims Triage

Milliman Economic Scenario Generator

Milliman AccuRate Fleet

Milliman Bungalow

Milliman PinPoint


Milliman Long–term care Advanced Risk Analytics™ (Milliman LARA™)

Milliman M-PIRe Valuation & Securitization Software

AXIS™ Actuarial System

Scenario Generation Solutions

Climate Pathways

RiskIntegrity™ Suite

Oasis Loss Modelling Framework


Economic Scenario Generator

Phinsys Insurance Suite



Matching Adjustment Analytics Tool

R³S Software Suite

Mo.net Model Development Studio

Mo.net Operational Modelling Centre

Mo.net Quotations Service

Mo.net Cloud Modelling Service

Mo.net Mobile Modeller

IFRS Assess Enterprise



Governance, Risk & Compliance System


ResQ Financial Reporter






evo-insight - New Actuarial Modelling and Analytical Platform from Zenith

Actuo SII Engine

IFRS17 Solution

Reserving solution

Solvency II solution

Pricing solution

CLARA Casualty Claim Platform (CLARA Triage, CLARA Treatment, CLARA Litigation, CLARA MSP Compliance, CLARA Optics)

Portfolio Manager

JBA Flood Modelling Technology

IFRS Assess and Risk Analyser

Numerix Insurance Suite


Quantee Platform

On-Demand CAT Modelling Services on the Oasis Platform



FE Solvency II

Grace Connect GRC Suite





Escali Financials and Escali Supervision


Quotech Underwriters Workbench

FIS Insurance Risk Suite (formerly known as Prophet)

LCP InsurSight

SS&C Algorithmics for Insurance

True North Data Platform

Balance Sheet Management (BSM)

Economic Scenario Generation (ESG)

MavenBlue Enterprise Pricing Management (EPM)

Optalitix Models and Optalitix Quote

Montoux Actuarial Automation Platform

Iris Actuarial Platform

CyberCube Analytics - Portfolio Manager

R³S Model Packages

R³S Modeler

R³S Process Manager

R³S Development Manager

Decision Focus

Fathom's Product Stack

Capital - Tyche Capital Model & ReMetrica

Incisive Essentials - Concourse


VIPR Insights - Data Analytics


Protecht ERM

Slope Software

Camms GRC Software

Quantee next-generation insurance pricing platform powered by AI

Oversight360, a Sicsic Solution


End User Computing (EUC) and Model Risk Management Software with Inventory, Discovery and Monitoring Modules

XLAudit Spreadsheet Error Analysis and Data Integrity Software


Financial Results Analyzer

Risk Explorer™

RiskAgility FM IFRS 17 Calculation Engine

Predictable Dynamics


RiskAgility Financial Modeller


iReplicate Policyholder Compression

Asseco IFRS 17 Engine