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The Actuary The magazine of the Institute & Faculty of Actuaries
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Grid computing solution

IBM has announced a new grid computing offering to help life insurance clients significantly decrease the time needed to run complex insurance model scenarios. Called IBM Grid and Grow for Actuarial Analysis, the offering combines IBM and IBM business partner and ISV technologies to help insurance clients improve financial risk and capital management, give a faster time to market with new products, and gain a competitive advantage. At the heart of the offering is IBM’s BladeCenter systems to power the grid.

The Actuarial Analysis solution is a packaged set of hardware, software, and services leveraging industry leading grid ISVs from a range of model vendors as well as middleware from IBM business partners. IBM clients already using an early version of the solution are reporting an immediate payback in their investment. An internal IBM survey of customers using IBM grid solutions for the insurance industry showed as much as a 75% reduction in time spent manually scheduling jobs and a 97% reduction in job processing time.