Emancipate Actuary Productivity.
It is learned that “ Slope ” has recently completed a USD 1 million seed round of financing, and the investor is Cofounders Capital. Slope said that this round of financing was used to continuously improve the development of the Slope software platform, which was launched early last year.
Slope is an insurance SaaS company located in Atlanta, USA. It provides an actuarial modeling SaaS platform for insurance companies, allowing actuaries to complete better analysis in a short time, thereby optimizing and simplifying insurance companies and actuarial models and strategies. Operational processes.
The insurance company’s business chain can be roughly divided into product side, sales side and claims side. On the product side, whether an insurance company is profitable and able to operate smoothly is closely related to its risk management capabilities. However, the working methods of actuaries have not changed much over the past few decades. Model software is relatively outdated. For example, it takes a lot of time in software to create a model, which makes the product side unable to adapt to faster and faster business changes and limits the development of insurance business to a certain extent.
Aiming at this situation, Slope has developed an actuarial modeling SaaS platform based on the cloud. Actuaries need only log in to the platform and simply click to create variables, build models and assumptions. The platform can extract from conventional spreadsheets or text files. Data and directly output fully customizable reports. Through this platform, actuaries can complete valuation, pricing, asset / liability management, cash flow testing, and more. In addition, the automated data management, visual interface, and one-click output integration report allow actuaries to avoid many inefficient tasks such as manually creating tables and organizing data, as well as reducing human error.
For managers, Slope allows multiple business units to operate independently, and can also aggregate multiple product lines into the same report, so that managers can view business processes in real time, and can build new products for the company on the platform. And business plan. On the product side, Slope’s product library provides out-of-the-box support for calculating traditional life insurance products, fixed and variable universal life insurance products, and annuities. It also supports the calculation of US statutory taxes and reserves.
Slope is currently headquartered in Atlanta, USA, and also has an office in Charlotte, North Carolina. At the same time, Slope will also enter the MetLife Digital Accelerator Program in 2019. Co-founder Andy Smith has acted as an actuary for a top financial institution and also worked as an insurance consultant for a large American life insurance company; another co-founder Taylor Perkins graduated from GA Tech and has over 10 years of enterprise software development and management experience.