30 JUNE 2023 – Tokyo – Numerical Technologies (“NumTech”) announces the successful upgrade of NtSaaS® for Sumitomo Life Insurance Company (headquartered in Osaka, “Sumitomo Life”). The upgraded solution aims to enhance internal management models and ensure compliance with the forthcoming economic value-based solvency regulations, scheduled to be introduced in 2025.
Having utilized Numerical Technologies’ on-premise system since 2000, Sumitomo Life made a strategic move in 2020, migrating to NtSaaS – a SaaS-type solution hosted on Amazon Web Services. This migration initiative reflects the company’s cloud-first policy, encompassing not just the risk management system but also the asset management department’s systems, with a particular focus on securities, being transitioned to the cloud.
The adoption of NtSaaS not only lightens the burden of system administration for users but also significantly reduces the time required to implement new functions. Furthermore, the system’s inherent flexibility allows for seamless augmentation with the requisite system resources, ensuring an always-optimal environment.
In line with their shared commitment to progress and efficiency in risk management, Sumitomo Life and NumTech will continue to maintain a close operational and systems relationship.
