SS&C Technologies has unveiled a new risk analysis software, Camra I-Risk, for insurance companies in an effort to address risk amidst emerging solvency standards.
Commenting on the launch of the new risk management system, SS&C Technologies chairman and chief executive officer Bill Stone said, CAMRA I-Risk, a cloud-based risk and analysis system, specifically designed to meet the needs of CEOs, CFOs, CIOs, and CROs.
"CAMRA I-Risk comes with full web portal capabilities, including iPad/iPhone apps, leveraging SS&C's innovative 'Anything, Anywhere, Anytime' development philosophy," Stone added.
Combining Camra's financial reporting capabilities with a modern position-based simulation model, I-Risk uses data directly from the CAMRA platform and offers complete risk calculations that deal with an insurance company's enterprise risk management (ERM), Solvency II for international insurers, as well as the ongoing US Solvency Modernization Initiative (SMI), claims SS&C Technologies.
According to the firm, risk measures include value at risk, sensivity and stress testing, effective duration and convexity, key rate duration, projected investment income, cash flow and fair market values.
SS&C Enterprise Risk Solutions senior vice president, FSA James Ramenda said, "The solution not only helps insurers comply with industry regulations, it helps provide the insight needed to improve risk management, make better-informed business decisions, and ensure financial stability over the long term."
CAMRA I-Risk offers complete asset coverage across all asset classes globally.
