SEATTLE, Nov. 3, 2014 /PRNewswire/ -- Milliman, Inc. today announced that the firm has been selected by Royal London, a UK-based mutual insurance company, to lead a transformation of the insurer's actuarial systems and processes.
"At Royal London we want to be in a position to react quickly to market changes and new opportunities for further growth," says Shaun Cooper, Group Chief Actuary for Royal London. "This requires robust actuarial and financial reporting tools and processes. We sought a provider who offered us a complete solution which would meet our current and future needs. Milliman's consulting expertise, in concert with its Integrate™ platform, gives us the capabilities we need to access information faster and with a greater degree of confidence to make strategic decisions."
Integrate is a revolutionary financial projection solution for the life insurance industry. Milliman reports its Integrate customers are gaining unprecedented speed and control in financial reporting amidst changing market dynamics and the demand of new regulations.
"Being selected by Royal London for this project is a testament to our leadership position in next-generation financial reporting systems and processes," says Milliman Principal Neil Cantle. "We believe our combined consulting expertise and enterprise-grade solutions enable substantial improvements in financial reporting, while providing a fast and scalable approach to sophisticated financial projections. Today, managing risk, maximising productivity, and unlocking the full potential of the actuarial staff is paramount, and Milliman's solution delivers the much needed cost efficiency and scalability companies require to meet the increasing demand for more reliable and timely information."
Milliman is among the world's largest providers of actuarial and related products and services. The firm has consulting practices in healthcare, property & casualty insurance, life insurance and financial services, and employee benefits. Milliman is a global firm of more than 3000 employees, with over 55 total offices operating in all major markets across Africa, Asia, Australia, the Americas, Europe, and the Middle East. For more than 60 years, an attention to rigorous standards of professional excellence, peer review and objectivity has made Milliman the leading independent actuarial firm. For further information, visit www.milliman.com.
About Royal London
Royal London is the largest mutual life and pensions company in the UK with Group funds under management of £77.0 billion. Group businesses serve around 5.3 million customers and employ over 2,900 people. (Figures quoted are as at 30 June 2014).
SOURCE Milliman, Inc.