Governance + Control

Every few years, life insurance modelling circles back to a familiar idea: “Surely we can build this ourselves now?”

Open-source languages are mature. Cloud infrastructure is cheap and elastic. Numerical libraries are faster than ever. On the surface, the case for fully open-source financial modelling feels stronger than it ever has.

And yet, time and again, large-scale internal build attempts quietly stall, get re-scoped, or end up re-introducing vendor platforms through the back door. This isn’t because open source has failed actuarial modelling. It’s because life insurance modelling turns out to be much more than code.

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The U.S. insurance industry is undergoing a major shift in how it calculates statutory reserves for fixed annuity products. Leading this transformation is VM-22, a new reserving standard that officially became mandatory in 2025 for many non-variable annuities. With its adoption, insurers are moving away from traditional formula-based methods and embracing a more nuanced, principle-based approach—one that better reflects the complexity and risks of modern annuity products.

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In the life insurance industry, financial models—often built in complex spreadsheets—play a critical role in pricing, reserving, capital management, and strategic decision-making. These models are sophisticated, calculation-heavy, and require rigorous assumptions and projections over long time horizons. However, the very complexity that makes these spreadsheets powerful also makes them difficult to maintain, understand, audit, or transfer between teams—especially in the absence of proper documentation.

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Security

Mo.net Quotations Service can be integrated to work with Quotation portals, Policy Admin Systems, Underwriting systems and a variety of other systems in use across the insurance enterprise. Until recently, clients using Mo.net Quotations service have typically hosted it on premise for internal use and therefore required limited security features.  However, with the increased mobilisation of activities to the cloud, security has come under much more scrutiny.

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