Ortec Finance - GLASS
Type of System
- Asset/liability management
- Capital modelling
- Climate risk management
- Economic / risk scenario generator
- Economic capital aggregation
- Exposure management
- Internal/external reporting
- Portfolio analysis/hedging
- Risk management
- Solvency II solution
- Stress testing
Type of platform
Other features - the offering facilitates:
- Least-squares Monte Carlo
- Solvency II internal model
- Solvency II standard formula
What are the typical implementation costs?
GLASS is based on a subscription or licence model. Implementation costs vary, mostly depending on the client’s selected scope, as well depending on the client’s IT structure and connectivity situation.
How long does your software take to implement on site?
All implementations are bespoke. Timelines are dependent upon the client’s selected scope, IT structure and connectivity situation.
Please name companies that use the system/solution
ING - a global bank with a strong European base.
Philips Pension Fund - the administrator of the pension plans for current and former employees of its two associated companies in the Netherlands.
OMERS - one of Canada's largest defined benefit pension plans.
NTUC Income- the leading composite insurer in Singapore offering life, health and general insurance.
eLo- a large Finnish pension insurance company
Most recent significant update:
Economy Customization Layer for ease of use and push-of-a-button scenario calibration
Credit Rating Transition Scenario Model for buy & hold corporate bond portfolios
Planned future enhancements:
Extending the functionality of the API in order to fully automate balance sheet projections, SAA optimization, and related calculations
How does your solution integrate with third-party systems or in-house systems?
GLASS’ modular approach enables seamless and flexible integration with third party and in-house systems and processes.
What is the key attribute of your product(s) that differentiates it from your competitors?
Ortec Finance’s unrivalled Economic Scenario Generator that delivers efficient, consistent, realistic and independent scenarios, powered by Ortec Finance’s frequency domain approach, is included in GLASS.
What trends are you seeing in terms of customer demand?
We see an increasing demand for sophisticated economic and climate scenarios and solutions that can translate these scenarios into optimal balance sheet management decisions.
Ortec Finance’s GLASS offers insurers global ALM simulation, supported by real- world & risk-neutral economic scenarios.