Milliman has announced that the firm has been selected by Royal London to lead a transformation of the insurer's actuarial systems and processes.
"At Royal London we want to be in a position to react quickly to market changes and new opportunities for further growth," says Shaun Cooper, Group Chief Actuary. "This requires robust actuarial and financial reporting tools and processes. We sought a provider who offered us a complete solution which would meet our current and future needs. Milliman's consulting expertise, in concert with its Integrate platform, gives us the capabilities we need to access information faster and with a greater degree of confidence to make strategic decisions."
Integrate is a revolutionary financial projection solution for the life insurance industry. Milliman reports its Integrate customers are gaining unprecedented speed and control in financial reporting amidst changing market dynamics and the demand of new regulations.
"Being selected by Royal London for this project is a testament to our leadership position in next-generation financial reporting systems and processes," says Milliman Principal Neil Cantle. "We believe our combined consulting expertise and enterprise-grade solutions enable substantial improvements in financial reporting, while providing a fast and scalable approach to sophisticated financial projections. Today, managing risk, maximising productivity, and unlocking the full potential of the actuarial staff is paramount, and Milliman's solution delivers the much needed cost efficiency and scalability companies require to meet the increasing demand for more reliable and timely information."
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