Actuarial software specialist Martin Sher has established a new company SherLutions Limited, to provide technology advisory services, tool implementation and cloud-based solutions to the actuarial community.
Most recently Mr Sher (pictured) was the MG-ALFA product manager for Europe, the Middle East and Africa at Milliman.
He was previously the managing director of Classic Solutions Europe, having established and built the MoSes franchise in the region. Mr Sher moved with the company when it became part of Towers Perrin, before leaving to join Algorithmics and later becoming managing director of SolveXia.
Speaking to The Actuary, Mr Sher said he was looking to be a 'solution provider' for technology used by the actuarial community. This would involve 'working with existing products and integrating them', he explained, rather than providing alternatives to existing technology providers.
He said: 'Given my wide knowledge of the market-leading actuarial projection and risk management tools, I am seeking to assist companies in areas such as tool selection, implementation and integration within the wider corporate IT infrastructure.
'SherLutions also provides bespoke tool development services to supplement and complement existing systems used within the organisation.'
In particular, SherLutions is focusing on providing 'cost-effective' cloud-based solutions that can bring together insurance companies' actuarial projection and risk management operations. In many cases, Mr Sher said, these operations are currently 'loosely coupled'.
He also highlighted the opportunity for his company to provide solutions to the problems posed by implementing the Solvency II legislation.
'It is clear that after meeting the initial Solvency II regulatory burden, companies will seek to rationalise, operationalise and in many cases re-implement solutions rather than persisting with their interim "made to work" modelling environments.
'The only thing for certain is that in a number of years the tools used by actuaries and the technology environment in which they operate will be radically different to those used today. SherLutions aims to be at the forefront of this technology revolution supporting companies to meet both short and long term business requirements,' he added.