OAC has revealed that it has enjoyed continued success in its expansion into new global markets during 2014. The firm has seen its financial modelling solution, Mo.net, as the main catalyst for growth with new clients in Israel, South Africa, Slovenia, Lichtenstein and the UK, all recognising the need to change in order to meet the challenges of current, as well as future, regulatory requirements and to deliver real value to their business and customers.
Insurance companies such as PrismaLife (Liechtenstein) and Vzajemna (Slovenia) have chosen to use Mo.net to help meet Solvency II regulation. Avalon, the UK-based funeral plan provider, is also using Mo.net to help analyse future cash flows within its business.
Nigel Gardner, head of global sales for Mo.net, at OAC says:
“While we are clearly a focused and prominent player in our home market, we have always sought to expand our business beyond the UK. That is why we are particularly pleased to have seen such strong international demand in the first half of this year. It is testament to the quality and versatility of our financial modelling proposition, Mo.net, that it is able to meet the requirements of so many companies in so many different territories and regulatory environments.”
Nigel continues:
“Regulatory and market changes are affecting insurance companies around the world. Solvency II in Europe and equivalent legislation elsewhere has created strong demand for Mo.net’s enhanced financial modelling capabilities. The insurance sector is hugely important to us and we expect to continue adding to our international Mo.net client base in the remainder of the year.”
Michael Blank, Chief Valuation Actuary at PrismaLife AG, comments:
“We selected Mo.net because it gives us the ability to implement the advanced financial models we need to support our business management and regulatory compliance requirements. It is a flexible, comprehensive and easy to use solution which means that we can satisfy the needs of our business in an agile and cost-effective way".
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