Applying Digital Transformation to the Insurance Sector

▤ Summary

These spreadsheets are applied for all kinds of purposes, including building raters and pricing tools, actuarial and risk-modeling calculations, data sharing, predictive modelling, and aggregation management. Furthermore, users often share spreadsheet files with each other using potentially insecure methods, such as email or network drives, which makes them even more vulnerable to being intercepted and abused by outsiders. There is often uncertainty regarding which file is the master copy and frequently, incorrect versions are distributed across companies, or even to customers, clients, and suppliers, potentially leading to disastrous consequences. Accessible through a browser, the underlying spreadsheets and logic remain secure within the corporate network (or cloud), meaning users can only edit the input data and get the resulting outputs. In addition, multiple individuals can access the same version of a spreadsheet simultaneously, with no risk of overwriting another person’s work, as users’ data is saved back to a database, not to flat Excel files.

▦ Linked Companies

Milliman

$1B+