Prudential UK to Centralize Financial Modeling and Risk Management Apps

Prudential UK has signed a licensing agreement with Towers Perrin to centralize its financial modeling applications.

London-based Prudential UK has signed a licensing agreement with Stamford, Conn.-based Towers Perrin, under which the carrier will leverage the vendor's MoSes interface and Microsoft's (Redmond, Wash.) high-performance computing (HPC) solution to centralize its financial modeling and risk management applications, according to a press release.

MoSes is an actuarial analysis and reporting tool for life and annuity products that can be used for product development, pricing, valuation, cash-flow testing and asset/liability modeling. Towers Perrin says that the new MoSes-HPC interface will provide scalability to enable Prudential to run its MoSes models on a large, centralized cluster.

Prudential UK has been using the solution since 1999. The recent licensing agreement extends the carrier's usage of the product. "This agreement underscores Prudential's commitment to the MoSes solution," Guy Shepherd, Prudential UK's head of business information systems, said in the press release. "Towers Perrin demonstrated a compelling technology roadmap and will help us utilize the power of the Microsoft HPC Server, take advantage of the scalability of the solution and give us the opportunity to run increasingly complex models."