Willis Towers Watson has introduced a “virtual actuarial workplace” for insurers in the Asia-Pacific region.

vPlace is powered by Microsoft’s Azure cloud computing platform, and is designed to overcome the limitations of legacy IT systems.

“Shorter reporting timelines are pushing insurers across Asia-Pacific to do more in less time, and traditional on-premise infrastructures are struggling to remain fit for purpose,” Software Practice Leader Asia-Pacific Michael Freeman said.

“Having a virtual workspace in the cloud, supported by Willis Towers Watson’s risk and actuarial software experts, allows insurers more time to respond to the changing needs of the business without having to spend huge sums on purchasing, updating and maintaining on-site infrastructure.”