How much time does your organization spend aggregating risk-related information, analysing it, and distributing it to stakeholders in multiple locations, using different systems? For most insurers, that activity will take up a lot of time – and it’s the reason why Excel spreadsheets are one of the most common tools used in insurance organizations, especialy for actuaries.
Solutions to manage risk
However, without proper management of Excel spreadsheets and other EUC* applications, your organization could quickly run into trouble. ClusterSeven’s unique solutions scan your IT environment to locate EUC applications that are likely to contain errors or inaccuracies, so you can quickly identify the scale of your EUC risk from a central point. Our solutions help you identify changes to EUC applications within minutes of them being made, helping you manage end-user computing risk even as the demand for instant access to information rises — and helping you get back valuable time and resource to focus on more valuable activities.
The real power of the software is its ability to embed appropriate data- and function-checks as part of our normal business practices.
Mark Allen, Head of Business Information at Canopius Lloyds Managing Agent
As the number of Excel spreadsheets your organization handles grows, being able to identify which are risky, where they are, when they change and who changes them makes conducting an ORSA, achieving compliance with Solvency II, SOX, MAR, or COSO framework far less time-consuming and expensive. In short, ClusterSeven’s solutions provide actuaries and other insurance professionals with a way to reduce the regulatory and financial risk their organization is exposed to, without having to change the way they work.
ClusterSeven delivering Certainty
- Proven delivery track record – all our customers go-live on time, on budget
- Speed of deployment – we can deploy in 10-15 days based on requirements
- Referencebility – we have over 30 customers in 20 countries across 5 continents
- Ease of implementation – we ensure minimal disruption to BAU activity
*EUC stands for end user computing, and is synonymous with end-user developed applications (EUDA), user tools (UT), user applications (UA) and user-developed tools (UDT)