Montoux, a leading provider of AI and actuarial modeling technology, announced the launch of Model Copilot, the first purpose-built generative AI copilot for actuaries. This revolutionary product is set to transform actuarial work by eliminating 80-90% of the time required to complete common modeling tasks.
Model Copilot introduces an evolving suite of features aimed at solving the complexities of model documentation and governance. By harnessing the power of advanced generative AI, Model Copilot helps actuaries understand, document and maintain models with an unprecedented level of clarity, accuracy and efficiency. By automating the most time-consuming aspects of model documentation and governance, Model Copilot allows actuaries to focus on strategic decision-making and analytical tasks, significantly improving productivity and quality of results.
“Model Copilot represents a significant step forward in integrating generative AI into the actuarial field,” said Klaas Stijnen, co-founder and co-CEO of Montoux. We are committed to providing innovative solutions that empower actuaries, and Model Copilot demonstrates this commitment. By automating and improving model documentation, we not only improve the efficiency and accuracy of actuarial work, but we also set a new standard for the industry. Model Copilot’s feature set will expand significantly over time to address other issues that actuaries face in their daily work.
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Key benefits of Model Copilot:
- Best-in-class documentation: Model Copilot generates comprehensive, clear, and concise documentation that meets and exceeds industry standards. This ensures that models are fully understandable and transparent, facilitating review, validation and regulatory compliance.
- Saves time: By automating important components of the documentation process, Model Copilot significantly reduces the time actuaries must spend on manual documentation. This gives actuaries valuable time to focus on more complex and important tasks.
- Uniformity and accuracy: Model Copilot enables consistent documentation across all models in a portfolio, minimizing the risk of human error and improving the reliability of actuarial work.
- Ease of implementation: Model Copilot does not require any migration of models into the actuarial system. Insurers only need to upload the model and documentation standards information and can immediately benefit from the value of the application.
- Secure, transparent and verifiable AI: Model Copilot can be deployed via Montoux’s secure cloud environment or within the insurer. Insurers can also choose the LLM of their choice and configure the application to meet their internal data security and privacy requirements.
Montoux‘s Model Copilot is now available for insurers looking to enhance their modeling capabilities and embrace the future of generative AI-powered financial transformation.
SOURCE: PRNewswire