Maher continued: "Our strong relationship across Microsoft product engineering, marketing, and sales, coupled with our participation in Microsoft Go-To-Market Services, has helped Milliman amplify the benefits of Integrate. By jointly promoting and selling Integrate and Azure, we were able to help customers such as Phoenix Group take advantage of the scale and extensibility of the cloud.”
Phoenix Group, the largest insurance consolidator in the United Kingdom, turned to Milliman and Integrate for help. They had acquired dozens of companies, and almost as many modeling systems. Add to this the mountain of new insurance products and regulations, and the Phoenix actuaries simply could not keep pace.
Implementing Milliman’s Integrate solution resulted in dramatic improvements. More than 900 manual processes were reduced to 44, and the time it takes the company to produce quarterly data was cut from four months to just three days. By the end of three years, the savings generated had paid for the project three times over.
“By taking advantage of Azure and its associated services, Milliman has been able to accelerate the development and time-to-market of the Integrate solution,” Maher said. “Integrate clients are able to run large actuarial jobs on-demand year-round, benefiting from the Azure platform’s scale and extensibility in a pay-as-you-go business model.”
“It is without question that Milliman is changing the game with its leading-edge cloud solutions,” said Tony Jacob, managing directory of worldwide insurance at Microsoft. “It’s a remarkable use of the cloud – not just in insurance, but in business. The considerable cost, time, and labor savings companies can realize with Integrate is unmatched. Microsoft values its partnership with Milliman and will continue to work together in helping insurers take on strategic actuarial systems and business transformation projects in the coming years.”
Headquartered in Seattle, Washington, Milliman is among the world’s largest providers of actuarial and related products and services. The firm has consulting practices in healthcare, property and casualty insurance, life insurance and financial services, and employee benefits. Founded in 1947, Milliman is an independent firm with offices in major cities around the globe.