Today NN Group’s achievements in the Partial Internal Model Cloud Solutions were rewarded with an Insurance ERM Award 2020 for Best use of Cloud Technology. Our efforts in this area were a collaboration between the Risk and IT teams. These annual awards are an initiative by Insurance ERM, an online platform that shares information on all aspects of risk and capital management in the insurance industry.
NN Group Partial Internal Model Cloud Solutions
NN Group has been at the forefront of transforming our partial internal model calculations for Solvency II into a cloud-based platform.
Our Group Risk DevOps teams made huge steps in 2019 in moving our internal model calculation engine FLECS and our reporting application Phoenix to the cloud; allowing for speed, cost savings and extending the business use of our risk platform.
In recent years, Risk has been more fully integrated within our business processes allowing for optimising Risk versus Return. This project to move to the cloud was developed fully in-house, with teams based in The Hague and Budapest. Going forward, Group Risk will continue to move our applications and processes to the cloud, allowing our business users to work even more efficiently.
Want to know more? You can read an interview with Jorg Sauren, Head of Risk Systems and Product Owner of this project, in which he talks about our use of cloud technology.