Software Alliance - Mo.net Model Development Studio
Type of System
- Asset/liability management
- Capital modelling
- Data management
- End-to-end ERM
- Front / back office illustrations & calculations
- Governance, risk, compliance (GRC)
- IFRS 17 solution
- Internal/external reporting
- LDTI solution
- Portfolio analysis/hedging
- Reserving solution
- Solvency II solution
- Spreadsheet risk management
- Stress testing
Type of platform
Other features - the offering facilitates:
- Least-squares Monte Carlo
- NAIC Principle-based reserving
- NAIC RMORSA
- Replicating portfolios
- Solvency II internal model
- Solvency II standard formula
What are the typical implementation costs?
Mo.net Model Development Studio provides a huge array of features and functionality to streamline the process of developing and testing new financial models. The vast majority of our clients install the software without any support from Software Alliance, other than by using our comprehensive installation, configuration and end-user documentation. There are a range of product editions from runtime to enterprise, each with their own specific license cost.
How long does your software take to implement on site?
New implementations take no more than a few minutes to download, install and activate via our website.
Please name companies that use the system/solution
We have more than 60 successful client implementations around the world, highlighting the fact that Mo.net is entirely agnostic to regional / regulatory reporting environment.
Most recent significant update:
Mo.net v7.4 was released in November 2019 and includes a wealth of enhancements and refinements to the Model Development Studio component and meets the requirements of traditional insurers and start-ups.
We have continued to provide incremental enhancements, refinements, and defect fixes across the Mo.net platform. Releases have generally focused on client specific requests, and changes to the platform to support new components, such as Operational Modelling Centre (“OMC”) and the Excel Model Adapter (“EMA”). In addition, we have taken this opportunity to extend the range of sample projects & templates included with Mo.net Model Development Studio.
Planned future enhancements:
Mo.net v7.5 will be released in Q3 2021. One of the key developments for v7.5 is enhancing the database connectivity of the platform, both in terms of model source data & assumptions, and in terms of model output & results. In addition to this we are planning to deliver a wealth of new features and enhancements to the Mo.net Model Development Studio over the coming months and years. Some of these include the ability to consume our data management & validation functionality as a service, in line with our service-oriented product philosophy. We are also planning to extend our system integration points to make the deployment of Mo.net into existing enterprise technology stacks even more straightforward. We will also continue to expand our range of country and application specific accelerators and templates, to lower the barrier to productivity even further.
We are also investigating the vector-wise modelling capabilities of the product, and looking to extend these in a Python type direction and if performance using currently available methods within the platform would be improved.
How does your solution integrate with third-party systems or in-house systems?
The Mo.net platform provides best-in-class integration with enterprise systems, whether running on-premise, in the cloud, or in a hybrid environment. This includes systems as diverse as business intelligence platforms, finance systems, BPM / automation applications, websites, policy administration systems, and of course data warehouses & data marts. Our service-oriented architecture means that harnessing the power of user-developed models & calculations is straightforward. This in turn allows models & calculations to be used across the insurance enterprise, beyond the actuarial department, and supporting our overall vision of Mo.net as the calculation hub for insurance.
What is the key attribute of your product(s) that differentiates it from your competitors?
Integration, as noted above is perhaps the most differentiating attribute of the product, however we also offer best of breed governance & control, performance, and ease of use. If you can develop a model in a spreadsheet, then you can develop a model in Mo.net.
What trends are you seeing in terms of customer demand?
Operational Modelling – clients want an operational modelling solution which has the flexibility to allow data and assumption changes. Also key is the ability to produce results on updated model versions without making custom changes to the system, but maintain control and governance over model code and inputs. We can meet this demand with our Operational Modelling Centre.
Conversion and rationalisation of spreadsheet (and legacy) modelling – customers often have long-standing spreadsheet models that have far outlived their original purpose and would be much better suited as models within a well-controlled and governed modelling platform. Our Excel Model Adapter is designed to convert these spreadsheets quickly and easily into such models, therefore speeding up and simplifying the process.
IFRS17 – there is demand for a modelling platform that can be flexible enough either to be used to produce end-to-end IFRS17 reporting metric calculations, starting with the valuation at policy level or to enable companies to load in cashflow data and carry out calculations at cohort level. The open, loosely-coupled, service-oriented architecture of the Mo.net platform, together with its industry-leading performance and integration features, makes Mo.net a genuine alternative to legacy financial modelling platforms when responding to the challenges of IFRS 17.
Mo.net - The Service Oriented Financial Modelling Platform Powering the Next Generation of End-to-End Insurance Modelling