Reinforcing risk management system against the backdrop of economic value-based solvency and other regulations.
28 APRIL 2023 – Tokyo – Numerical Technologies (“NumTech”) is pleased to announce that Asahi Mutual Life Insurance Company (headquarters: Tokyo, “Asahi Life”) has implemented NtSaaS® for their market risk management system. Asahi Life selected NumTech based on its high technological capabilities in terms of operations and systems, as well as the company’s track record in implementing such solutions for life insurance companies in Japan.
NtSaaS was launched in 2020 as a SaaS solution in the financial risk management field and has steadily increased customer numbers. In particular, NtSaaS is widely used by life insurance companies in their asset management risk management and financial planning departments in the area of VaR measurement of market and credit risk, and ALM, where mid- to long-term financial planning is simulated.
Building and implementing a financial risk management system requires specialized business knowledge and flexible system support. hence, the project was led together by the Risk Management Division of Asahi Life and NumTech. By taking advantage of the characteristics of SaaS, which allows for an efficient and short turnaround time to reflect the feedback from the user department in the system, the project was completed in a short period of about 6 months from POC (Proof of Concept), ETL (Extract Transform Load) tool development, user verification, and to go-live.
Mr. Kazuhiro Kawakami, General Manager, Risk Management Department of Asahi Life, said, “We are grateful for the sincere support of NumTech from defining the requirements to the training before going live. We intend to utilize the wide variety of risk measurement methods and analysis functions of NtSaaS to enhance further the sophistication and efficiency of our operations and strengthen our risk management organization capabilities.”
Asahi Life plans to expand the use of NtSaaS not only for market risk but also for credit risk and integrated risk management, in anticipation of the economic value-based solvency regulations that will begin to be measured from the fiscal year ending March 2026.
