3 JULY 2023 – Tokyo – Numerical Technologies (“NumTech”) is pleased to announce the successful implementation of NtSaaS® for Market and Credit Risk at Nippon Wealth Life Insurance Company Limited (headquartered in Tokyo, “Nippon Wealth Life”). As a prominent member of the Nippon Life Group, Nippon Wealth Life emerged from the merger with Nippon Life Insurance Company in May 2018 and holds a vital position in the financial institution window sales market.
NtSaaS, a SaaS-type financial risk management solution provided using Amazon Web Services by NumTech since 2020, has been steadily adopted by a growing number of customers. Its versatile applications include VaR measurement for asset management risk and mid- to long-term financial planning simulations, making it a preferred choice among domestic life insurance companies.
This project focused on market risk and credit risk with the aim of upgrading internal models and utilizing them to comply with new capital regulations to be introduced in 2025. The use of a service that included Extract Transform Load (ETL), which generates the input data necessary for risk measurement, enabled smooth implementation and operation of the system. Notably, despite the project being executed remotely, the dedicated project management and promotion efforts led by Nippon Wealth Life’s System Planning Department ensured a successful and efficient completion of the endeavor.
Mr. Shunji Haruhara, Risk Management Department Expert Director at Nippon Wealth Life, expressed his satisfaction with the partnership, stating, “NumTech’s high-level expertise and experience in financial modeling enabled us to complete the system implementation in a short period of time. We have learned that their solution, already trusted by our parent company Nippon Life Insurance, is not only reliable in terms of performance and functionality but also provides excellent post-implementation maintenance service. We are confident that the system will adequately address the new capital regulations set to be introduced in 2025.”
With this successful implementation, NumTech remains committed to expanding its services while closely monitoring regulatory developments to ensure ongoing compliance and support for its clients.
