Financial Risk Solutions, a provider of investment administration and compliance oversight software, has seen a spike in contracts for its hosted software offerings by life assurance companies including Prudential International, St. James Place International and Hawthorn Life.
FRS's recent launches of InvestPro and InvestGRC solutions in the cloud using Microsoft Azure now allows life assurance companies to administer and automate mutual fund unit pricing /net asset values (NAVs), investment accounting and solvency II compliance reporting in a rigorously controlled and scalable environment.
"The cloud is transforming whole industries, and the financial industry is no exception. Through the reliability and scalability of Microsoft Azure, FRS's InvestPro and InvestGRC solutions are helping life companies optimize their businesses and get more value out of their data in the cloud," said Andrea Carl, director, commercial communications, Microsoft.
Recently FRS partnered with Capita's life and pensions business in Ireland and were awarded a five-year contract to provide fund administration for Hawthorn Life. Capita will provide secure cloud-based investment fund management using FRS' Invest|Pro software. The Microsoft Azure cloud will be used, allowing complex and critical business processes for management in one system.