Software Alliance - Mo.net Operational Modelling Centre
Type of System
- Capital modelling
- Economic capital aggregation
- Risk management
- Stress testing
- Asset/liability management
- Data management
- End-to-end ERM
- Solvency II solution
- Internal/external reporting
- Portfolio analysis/hedging
- Reserving solution
- Governance, risk compliance (GRC)
Type of platform
Other features - the offering facilitates:
- Least-squares Monte Carlo
- Replicating portfolios
- NAIC RMORSA
- NAIC Principle-based reserving
- Solvency II standard formula
- Solvency II internal model
- IFRS 17
What are the typical implementation costs?
The Operational Modelling Centre is specifically designed to meet the operational modelling needs of all sizes of financial reporting enterprise. It can be deployed on premise, in a hosted environment, or in the cloud, so implementation costs vary considerably depending on the requirements of the customer and the number of users. For cloud-based users, implementation costs are negligible. For on-premise installations, a Software Alliance engineer will usually work with the customer to install and configure the software within a few hours.
How long does your software take to implement on site?
On-premise installations can be completed within a few hours. Typical cloud configurations usually take less than an hour.
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:
OMC R2 was released to market in October 2019. This second major release of the OMC included a huge number of enhancements, refinements and new functionality to directly help members of the operational modelling community. Some of the new features include the ability to run any Windows program within an OMC job, new system reports and the ability for users to develop their own custom reports, improve distribution of work across on-premise or Azure-based worker nodes, and refined job approval and notification functionality.
Planned future enhancements:
Among the wealth of enhancements in the current OMC roadmap are features such as external job triggers, web service endpoints allowing enterprise systems to integrate with OMC, and an OMC Remote Control.
How does your solution integrate with third-party systems or in-house systems?
In line with all other components of the Mo.net platform, integration is one of the cornerstones of the Operational Modelling Centre. This obviously includes integration with sources of data and assumptions, either in database or file formats, but also integration with a range of enterprise business intelligence, reporting and analysis platforms.
What is the key attribute of your product(s) that differentiates it from your competitors?
The OMC has been designed to specifically address the operational modelling needs of insurance companies. With deliberate segregation from model development activity, the OMC is intended to take the pain out of regular reporting. The OMC provides best in class governance, audit, flexibility and performance, in a multi-user environment, from any device (PC, tablet, etc) and in any environment (on premise, cloud, etc).
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. Clients also want to produce results on updated model versions without making custom changes to the system, but maintaining 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 Mo.net platform is flexible enough to enable it to be developed for either scenario.
Mo.net - The Service Oriented Financial Modelling Platform Powering the Next Generation of End-to-End Insurance Modelling