UK - Consulting firm Watson Wyatt has developed an updated version of its financial modelling system, VIPitech, which it claims slashes stochastic run times.
It added the enhancements significantly reduced the number of simulations - and consequently run times - for complex stochastic valuation models by an order of magnitude.
Michel Abbink, head of advanced modelling solutions at Watson Wyatt, said: "With regimes such as S-II likely to increase the demand for highly complex stochastic models, it is essential that actuarial systems are able to accommodate modelling requirements in a way that is both manageable and scalable.
"The new functionality also makes the use of true nested stochastic calculations a practical reality."
Watson Wyatt also made enhancements to security and control within VIPitech to ensure compliance with SOX-based IT principles, and implemented additional functionality to boost usability and performance for large-scale calculations.
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