Type of System
- Computational grid for actuarial modelling
Type of Platform
Most recent significant updates:
Version 2.1 released in March 2018 introduces several functionality improvements to help clients manage and cross-charge their vGrid usage. This included a revamp of usage data, analysis of resources, and enhanced job monitors
Planned future enhancements:
In addition to continually enhancing to meet changing InfoSec compliance standards, the upcoming versions include: Version 2.2 will be released in Winter 2018 and contains a the ability to lock down resources to certain teams or users. Version 2.3, planned for release in the first half of 2019, will allow clients to configure the Azure compute machines for the needs of their RiskAgility FM models, as well as many further enhancements.
The offering facilitates
- NAIC's RMORSA
- Solvency II standard formula
- Solvency II internal model
- IFRS 17
Integration with third-party or in-house systems?
vGrid utilises Microsoft Azure cloud services so it can be delivered consistently in locations aligning to your data locale requirements. It is currently optimised to work with either an on-premise installation of Willis Towers Watson's RiskAgility FM or via vPlace; Willis Towers Watson's Software as a Service (SaaS) online actuarial workplace. This combination of vGrid with vPlace provides the ultimate flexible, efficient and cost-effective solution for your actuarial processing needs.
vGrid also integrates with Willis Towers Watson's Unify our enterprise-wide risk and actuarial systems integration platform.
Implementation and Costs
Typical implementation costs:
No implementation or up-front fees. vGrid uses a consumption (per core/hour) based pricing model.
How long does your software take to implement on site?
Once access is approved by your own company, this can be as little as a few hours.
Key attributes of product:
vGrid is available to Willis Towers Watson's RiskAgility FM clients and provides a cost efficient, scalable, no-nonsense option for distributed processing of computationally intensive workloads – offering an alternative to purchasing and maintaining an on-premise grid of computers without necessarily moving your entire process to the cloud. vGrid also provides a dashboard that eases manageability and enhances visibility of the resources that actuarial model runs consume.
vGrid is also part of Willis Towers Watson's Solutions for Life portfolio of integrated software, technology and consulting services – a holistic solution to managing the end-to-end risk modelling process for life insurers.
This producct is SaaS delivery tool for our software suite . Those options highlighted above relate to our RiskAgility FM product which is the firs t product available through vPlace