IT projects have perhaps the highest failure rate, but we believe that the number of failed IT projects in the insurance and reinsurance industry is higher than in any other industry. From the development side, usually programmers and project managers do not understand insurance and do not even understand the terminology. From the insurance side actuaries, underwriters and stakeholders do not understand programming and often specifications fail to clearly explain the goal of the project. The result: a system that does not meet client’s requirements, is unlikely going to be used and thousands of dollars wasted.
Here at MatBlas we have a unique combination of skills: all our actuaries are good programmers, have worked in insurance and reinsurance companies and understand and speak the same language and terminology than our clients. Our software developers understand insurance, understand the terminology and understand actuarial methods from pricing, reserving, reinsurance and capital modelling.
Technology evolves daily and even the unimaginable can be accomplished with technology. If you have worked with software consultants, most of the time, your requests will be turned down as “that cannot be done”. At MatBlas our answer to clients’ requests is “we will find out the best possible way to implement that”.
In each our IT projects one of our senior actuaries act as a project manager liaising with clients to specify requirements, understand workflow from user interface to database requirements and he/she translates these requirements to a language that is easy for our developers to implement. Usually our actuaries write the require algorithm and tests each component before the developer incorporates this in the project.
From off the shelf standard pricing applications to bespoke integrated systems, our IT solutions are designed with the ultimate user in mind to ensure ease of use and understanding. All our solutions include on screen help facilitating training of new users.
Contact us to discuss your systems and software requirements and to see a demo of some solutions we have developed for London Market clients.
|Smart Re™ |
Every treaty pricing actuary and underwriter dreams of a pricing tool in a single file, with integrated workflow from data to CR/ROE with a data warehouse that captures all claims, premiums, exposures, benchmarks and each and every selection used throughout the rating process.
Many understand that Microsoft Excel® is not the ideal platform for this, yet most pricing models being developed and used out there are in Excel. The common workflow involves manipulating several spreadsheets and moving data around. The amount of time wasted waiting for Excel to respond or finding bugs is simply outrageous!
Smart Re™ is not a ground breaking new mathematical way to price treaties. Smart Re™ is not about the maths, is about the platform. Smart Re brings you the solid methodology you are used to in a cutting edge platform with integrated management information reporting tools .
Smart Re™ is designed to save time that you can invest doing more in-depth analyses and interesting projects. I invite you to go through this booklet to get a feel for how Smart Re™ looks like and then take a look at the quick “live” demo I have put together for you.
Smart Re™ brochure
| Core benefits – why Smart Re™ |
No software and no dongles to install
Use in as many devices as required, even your iPad®
No spreadsheet expertise required
Ease of workflow
Free data warehouse with downloads
No pre-determined method, all standard methods are available
Mobility, use it anywhere any time
Live updates with new features
Free technical and actuarial training for beginners
Easy to renew and compare year on year pricing assumptions and results
Can be customised
FREE no obligation trial licence