DataSynapse, the fastest-growing provider of grid-computing solutions for the virtual enterprise, and Milliman, Inc., a premier actuarial and business management consulting firm, today announced a software bundling and collaboration agreement.
The companies have agreed to work together to offer a grid-enabled version of MG-ALFA®, Milliman's market-leading pricing and projection software for the life insurance industry.
MG-ALFA is used throughout the world to meet the needs of life insurance companies, from product development and financial management to decision support analysis. Integrated with GridServer® infrastructure software from DataSynapse, MG-ALFA speeds the process of evaluating insurance products and entities by distributing application workload across a grid of shared system resources.
Pre-configured and designed for out-of-the-box deployment, the scalable solution enables users to make faster and more informed business decisions, turning information into competitive advantage. It also addresses the need for increased resource capacity in the life insurance industry, a sector driven by regulatory reporting requirements, complex product designs and sophisticated financial accounting and risk management practices.
"The life insurance industry is in the midst of a fundamental change related to the quantification of risk and value, leading to an increased demand for scalability," said Pat Renzi, MG-ALFA product manager. "The addition of DataSynapse GridServer to the MG-ALFA offering enables our customers to dramatically improve business performance while satisfying the unpredictable demand for computing power."
The DataSynapse and Milliman agreement also outlines details concerning support and sale of the joint offering. Currently in production, the integrated MG-ALFA and GridServer solution is generating substantial performance gains for some of the world's top insurance companies including Nationwide and Genworth Financial Insurance.
"The DataSynapse GridServer and MG-ALFA offering answers the insurance industry’s call for increased capacity," said Mark A. Mszanski, executive vice president of field operations for DataSynapse. "DataSynapse is excited to work together with Milliman to help insurers improve the agility and responsiveness of their organisations, while increasing service levels and reducing overall IT costs."