Enterprise Risk Management Technology Guide 2023/24

Software Alliance: Empowering insurers to achieve more

What would you say are the biggest technology-related opportunities for insurers in the current environment?

While many recent disruptive technology trends present meaningful opportunities across the insurance landscape, there are four key trends we believe should form the core of any insurance technology vision.


Guy ShepherdWhile the concepts of cloud computing have been around since the late 1990s and the tangible benefits of performance, agility, flexibility, and utility-based pricing are now well understood, many insurers have yet to unlock anywhere near the full potential of cloud. 

Most of those insurers who have embarked on cloud-first or cloud-ready initiatives have stalled at the relatively obvious lift-and-shift migrations of legacy workloads and  systems from data centres to the cloud.  Unfortunately, because these workloads and technologies weren't designed for cloud, they simply aren’t in a position to deliver all the benefits and generally require the same or more maintenance than the on-premise systems they’ve replaced.

Enterprise Data Fabric

The potential value of data has never been clearer.  This is particularly true for insurers with their enormous breadth, depth, and history of data, most of which goes untapped.  This is partly due to the siloed nature of data within specific applications or teams, which means it’s not accessible as a commodity within the insurance enterprise and prevents value from being derived across the business.

Data fabric goes beyond traditional enterprise data warehouse concepts and integrates data across platforms and users without necessarily lifting, shifting and  duplicating information.  The key is to make data available everywhere it’s needed and include built-in metadata to help consuming systems and  personnel understand the data that is available to them.

Actionable Intelligence

There is now a wealth of technology on offer to derive insight and actionable intelligence from data.  However, insurance is still captivated by complex ecosystems of spreadsheets and other user-developed applications.  This means that like data, any insight is typically siloed in teams or individuals with cooperative decision-making almost impossible.

Automation and Reduced Time-to-Value

Perhaps the most obvious opportunity on offer to many parts of the insurance enterprise is that afforded by automation or even hyper-automation.  Despite what many actuaries and risk managers might have you believe, the end-to-end processes within insurance are reasonably static, with the same workloads being performed time and time again, albeit with different data and assumptions.  Such processes typically lend themselves to business process automation and management, but such concepts are still relatively unheard of within the insurance enterprise.

Why aren’t insurers taking advantage of these opportunities? What are the barriers holding them back?

Based on discussions with our clients and technology partners, the rate of technological change occurring outside of insurance continues to accelerate and outpace the rate of change taking place within the industry.  This means that emerging technology opportunities are perhaps becoming even harder to unlock.

The barriers are numerous and perhaps obvious, but typically include:

  • Continuously evolving regulatory agenda – there is no time for the industry to reflect, consolidate, and optimise the technology and workloads implemented as part of the most recent regulatory changes before the next series of upheaval comes along
  • Complexity of existing systems and processes – solutions typically build upon the shoulders of those which came before, which means there are numerous layers of technology and processes required to deliver the latest business and regulatory requirements.  This leads to very brittle and inefficient systems, often with a rotten or redundant core
  • Legacy technology debt – many insurance operations still operate on technology from the 1990s and earlier.  Even where new technology has been implemented, this is often constrained by the need to work with legacy systems and processes
  • Limited reference points of success – despite the benefits on offer, there are few visible reference points where the adoption of new technology has made a tangible difference.

What is SAL doing to help insurers address these barriers and take advantage of the opportunities on offer?

We are currently focused on delivering a genuine cloud native modelling, calculation and analytics platform for insurance.  This expert system will leverage the flexibility, integration and automation potential of the existing Mo.net platform, but allow users to deliver core workloads quickly and effectively in the cloud and with minimum manual intervention and supervision. 

The vision is to allow users to deliver results reliably within hours or minutes leaving time and resource available to focus on developing actionable insight andintelligence for the benefit of the organisation and its customers.

Guide entries by Software Alliance

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