From the Wires
Cloud Computing Enabled in Risk Explorer(TM) Software Allows Execution of Large Economic Capital Models to Take Minutes or Seconds Instead of Hours or Days
By: Marketwired .
Feb. 11, 2013 10:05 AM
NEW YORK, NY -- (Marketwire) -- 02/11/13 -- Risk Explorer, the Dynamic Financial Analysis model from Ultimate Risk Solutions, LLC (URS) has for the first time reduced processing time for large capital models from hours to minutes by harnessing the power of cloud computing, Alex Bushel, Founder and CEO, announced."Utilizing commercially available cloud computing, Risk Explorer will speed processing dramatically, improve efficiency and reduce cost for businesses that require large models," Bushel said.
In test runs, Bushel reported, cloud computing cut the time required to process 50,000 simulations of a very large model from seven hours to only five minutes. Models of any imaginable size can now be run at minimal incremental cost literally within minutes on the Risk Explorer platform using cloud technology through this exclusive upgrade from URS.
"Insurers and reinsurers in the United States, United Kingdom and across Europe increasingly build larger and larger models that take longer and longer to run even on multiple processors. In some cases, the long run times have handicapped or made these large models unusable as effective decision-making tools. Through cloud computing on Risk Explorer, companies can realize the full benefits of Dynamic Financial Analysis without the cost and lengthy processing times required today," he stated.
The new cloud computing functionality was presented at the Risk Explorer user group meeting in London on Feb 7 and was very well received by the audience.
URS is an independent financial analysis software developer used by many of the world's leading insurers, reinsurers, brokers and regulators. The Company has offices in the USA, UK, Switzerland, Spain, Italy, Hong Kong, Thailand, Russia and China. Founded in 2001, URS has grown into one of the leading providers of Dynamic Financial Analysis tools to the global insurance industry.
Information about how to cut processing time through Risk Explorer with cloud computing, contact firstname.lastname@example.org.
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