vGrid 2.0, our cloud-based Software as a Service technology, introduces new features to improve speed, system efficiency and security – furthering its appeal as a cost efficient, scalable, no-nonsense option for distributed processing.

The computational grid solution gives life insurers on-demand access to scalable computing power to help them meet ever-reducing reporting timetables. Combined with our financial modelling software RiskAgility FM, vGrid provides the processing power to run even the most complex models in less time, at less expense and without the challenges of updating your existing on-premise solution.

Stephen Hollands, Willis Towers Watson's Global SaaS Product Leader, said: “An independent assessment has already proved a 27% cost saving for one existing insurance industry client by choosing vGrid over running their own on-premise system. With vGrid 2.0, we’d expect to deliver even further cost savings as our tests confirm a 20% to 30% improvement in runtime speeds compared to the previous version of vGrid.”

This ability to achieve quicker results and execute more complex run scenarios will make it easier for insurers to respond to both changing regulatory requirements and internal pressure to improve business performance.

“Managing large compute capacity and complex IT infrastructure can be expensive, especially when demand is variable." said Stephen. "vGrid 2.0 is another step change in delivering an efficient, scalable and secure environment, allowing users to further increase their processing power as and when they need it, without the high on-going costs of when they don’t.”

Additional security features have also been added to the ‘pay-as-you-go’ virtual grid technology to ensure compatibility with in-house IT policies and requirements. For example, vGrid 2.0 now includes Multi-Factor Authentication, reflecting a requirement for many companies to reduce the risk of access credentials for web applications and services being compromised or shared. in addition, companies are now able to set their own timings for when their data will automatically be cleaned from vGrid’s cloud storage.

To find out more about vGrid, download the brochure to find out more, or contact us at software.solutions@willistowerswatson.com