Enterprise Risk Management Technology Guide 2023

Green13 Solutions - Iris Actuarial Platform

Type of System

  • Analytics
  • Asset/liability management
  • Capital modelling
  • Data management
  • IFRS 17 solution
  • Internal/external reporting
  • Reserving solution
  • Solvency II solution
  • Spreadsheet risk management
  • Stress and scenario testing
  • Stress testing
  • Granular analysis of change;Business Planning/ORSA

Type of platform

  • Cloud
  • Desktop-based
  • Grid
  • Server-based

Other features - does your offering facilitate

  • IFRS 17
  • Solvency II standard formula
  • Generative AI-assisted modelling

What are the typical implementation costs?

Implementations are usually carried out by our implementation partners working closely with the actuaries and/or accountants within the insurance company client. We have a growing number of consulting firms that are implementing the Iris–Software solution across the EMEA region. The costs will depend on the scope of the implementation and the local market conditions and are agreed between the partner and the insurance company.

In our experience, our insurance company clients find the implementation costs to be very competitive in their markets compared with the alternatives because of the Iris–software’s flexibility.

How long does your software take to implement on site?

Implementation timeframes vary according to scope and complexity. The software itself is as simple as "unzip and run".

New users can get up and running by installing the software in minutes and following our training course in a few hours and then be building sophisticated cashflow models within days, and in days.

The system includes powerful data transformation, data quality and reporting tools and complete end-to-end processes that calculate Solvency II results and IFRS17 results that can be put together very quickly. The system can be easily adapted and configured for any type of bespoke stress.

Please name companies that use the system/solution

Some of our users are: 

  • Utmost Europe
  • two international consultancies (multiple locations) for own use and for outsourcing of actuarial function (including one big-4)
  • futher consultancies in Africa, EU and Asia
  • multiple direct clients in EMEA, including large insurers in Africa and the Middle East
  • expecting this number to increase significantly over the year, including adding one more continent to the user-group.

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Iris-C, an #innovative, powerful, #lowcode platform, empowering #actuaries to make the impossible possible!

Contacts

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Guide entries by Green13 Solutions