12 SEPTEMBER 2024 – Tokyo – Numerical Technologies (“NumTech”) is pleased to announce that Nippon Life Insurance Company (“Nippon Life”) has adopted its SaaS-based financial risk management solution, NtSaaS®, to comply with economic value-based solvency regulations. Nippon Life will utilize NtSaaS to calculate market and credit risks as part of the common model (regulatory model) for economic value-based solvency regulations, which are set to be implemented in 2025.
Since 2000, Nippon Life has leveraged NumTech’s solutions as an internal model for managing asset management risk. The decision to adopt NtSaaS represents a strategic transition from an aging on-premises infrastructure to a modern cloud-based environment. This migration included significant upgrades to computing server specifications and storage capabilities, allowing for greater flexibility in meeting future computational needs, including various analyses within the internal model and calculations under the economic value-based regulatory model.
Furthermore, Nippon Life demonstrates its commitment to robust cybersecurity by utilizing NtSaaS, which incorporates AWS PrivateLink to ensure secure network access.
NumTech continues to enhance its presence in Japan’s insurance sector. Building on its proven track record, the company is expanding its service offerings beyond asset management risk to provide innovative solutions that further support the operational needs of financial institutions through its SaaS platform.
Numerical Technologies is a financial risk management software company and consulting firm that specializes in high-performance computing (HPC), parallel Monte Carlo simulation, and financial modeling. Since 1998, we have been helping some of the largest banks and insurance companies globally to quantify risk, identify opportunities, and meet economic and regulatory capital requirements. Numerical Technologies holds office in Singapore and Tokyo.