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Software Alliance: Digitalized Financial Modeling for Enhanced Efficiency

Guy Shepherd, CEO, Software AllianceGuy Shepherd, CEO
Financial modeling is crucial to any business, particularly in the insurance industry. It not only represents performance and forecasts financial decisions, but also provides vision and valuable information to stakeholders. However, given the complexity of the traditional financial models, replacing a legacy system with a digitalized platform can be tedious, expensive, and time-consuming. “Insurance companies struggle to migrate to newer technologies due to the risks associated with the change,” says Guy Shepherd, CEO of Software Alliance. The UK-based company is on a mission to digitalize insurance companies by offering Mo.net, an innovative financial modeling and calculation platform designed to support the emerging needs of next-generation insurers and tackle the legacy debt of traditional insurers. The platform allows insurance companies to undertake complex tasks related to financial modeling and analysis in highly flexible and cost-effective way.

While other solution providers focus on library-based platforms and limit themselves to the actuarial domain, Software Alliance differentiates itself with Mo.net. As a code-based platform, Mo.net helps companies migrate from proprietary systems and closed architectures to a service-oriented open platform designed for the cloud. The seamless migration to the cloud is enabled by the platform’s ability to integrate with the existing client systems. “Once a financial model is built on Mo.net, it can be used for a range of uses in contrast to the library-based platforms,” adds Shepherd. Software Alliance believes that customers should be free to select the best-in-class technology solutions for every aspect of their business.

Their products adopt an open and extensible architecture, with a light footprint, built upon industry-standard frameworks rather than forcing the adoption of highly proprietary components.

Software Alliance provides a range of components specifically designed to deliver on the requirements of both development and operational communities. Mo.net Model Development Studio offers a vast array of features to streamline the process of developing and testing flexible, scalable, and high-performance financial models for a range of business applications. The Mo.net platform also provides a number of operational solutions designed to allow financial models to be consumed as-a-service from anywhere and on any device.

Software Alliance’s innovative solutions have earned the company a rich clientele. A case in point, a longstanding UK-based insurance company with a range of legacy products, wanted to consolidate all their offerings and policy administration onto a single platform. The challenge was not simply the migration and the consolidation of the data, but the complex calculations that were required to service the policies once migrated. Although the client company had already unlocked massive benefits from the harmonization and consolidation of policies onto a single administration platform, they were struggling to perform the calculations against the new policy system. After integrating Mo.net with the new policy system, the client was in a position to provide administration and servicing calculations for any of its legacy products and policies.

Moving forward, Software Alliance’s vision is for Mo.net to be the core calculation engine across the insurance life cycle. The benefits of doing that include economies of scale, performance, and a single version of the truth. The company is looking to expand the footprint of Mo.net into new markets and to provide customers outside the UK with access to the Mo.net platform, either on-premise or in the cloud. They aim to achieve this by growing their partner network and developing territory-specific offerings around the core product set, particularly in the US, Africa, Asia, and Russia, where traditional library-based systems are no longer appropriate to the needs of today’s fast-moving insurance environment.

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Software Alliance

Company
Software Alliance

Headquarters
London, UK

Management
Guy Shepherd, CEO

Description
UK-based company Software Alliance is on a mission to digitalize insurance companies by offering Mo.net, an innovative financial modeling and calculation platform designed to support the emerging needs of next-generation insurers and tackle the legacy debt of traditional insurers. The platform allows insurance companies to undertake complex tasks related to financial modeling and analysis in highly flexible and cost-effective ways. As a code-based platform, Mo.net helps companies migrate from proprietary systems and closed architectures to a service-oriented open platform designed for the cloud