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Actuarial Modeling

Why Actuaries Need The Cloud

Despite the meteoric rise of cloud computing, actuarial software (and the financial services industry in general) seems to be lagging behind.  Numerous articles written over the years point to the benefits cloud computing can provide, but most software available today still requires too much manual intervention.  Be it installation and maintenance of desktop software, or manually managing servers and other hardware. 

It’s time for a 100% cloud-based solution. 

In this article we outline the benefits that cloud computing provides, and how Slope Software uniquely implements those benefits to offer a complete, end-to-end, actuarial modeling and analysis platform.  While the benefits of cloud-based software are already abundant, here at Slope we strive to take advantage of the latest technology and innovations to make financial projections easy to maintain, manage, execute, and analyze.

Fast Implementation

No installation necessary.  Cloud based applications allow users to get up and running in a matter of days rather than months or years.

At Slope: Sign up with your e-mail and get to work building financial models immediately.  We offer proof-of-concepts to test out the software, along with training, documentation, and a base financial projection library to get started.

Maintenance Free

No patching, no upgrading, no testing of the software.  All this is handled automatically, including installation of new features on a regular basis and updating hardware to the latest standards.

At Slope: We provide regular updates to the software every couple weeks.  No more waiting around for months or years for new versions of software.  As long as you’re a customer, you get every new feature that we build.

Instant Scalability

With cloud computing, application users can scale compute power and other resources (such as users) as needed, only paying for what is needed and not needing to worry about running out of capacity.

 
At Slope: Not only do we take advantage of the scalability of the cloud, we do it instantly.  Want 4 cores to run your model?  How about 100 cores?  No problem.  Experience the power of scalability combined with instant hardware parallelization to run as many scenarios at once as necessary, while only paying for what you use.

Access Anywhere

Cloud applications can be accessed securely from anywhere on any device with an internet connection.  All that’s needed is a modern web browser.

 
At Slope: We strive to maintain 100% up-time and availability.  As long as you can access an internet connection, you can log on and check the progress of your projections.

Easy Collaboration

Applications in the public cloud allow for users to more easily share data within the system, often having built-in capabilities for this, rather than manually managing files, configuration, data, or other information.

 
At Slope: We provide a centralized workspace that allows model developers to more easily share changes and updates, without removing the ability to work independently if necessary.

Better Security

Instead of having files and data on individual machines or being passed around via e-mail or other insecure means, all data is stored securely in a virtual private cloud.

 
Icon made by Nikita Golubev from www.flaticon.com is licensed by CC 3.0 BYAt Slope: We’re hosted on Amazon Web Services, a SOC 1, 2, and 3 certified provider.  Security patches and updates are installed automatically, without the need for manual intervention.

More Flexibility

Scale the number of users up or down, modify permissions, and configure other relevant preferences to the needs of the business as it changes.

 
At Slope: We provide a highly configurable, flexible platform that allows you to adjust things on the fly as needed.   This allows for easier set up of permissions, assumption inputs from various sources, and compute resource management.

Conclusion

Cloud-based actuarial software is changing the game by providing benefits that desktop and on-premises software cannot deliver.  Head over to Slope Software to learn more about our unique approach to this industry and see how we can fix the pain of outdated techniques and software!