Nice Technologies provides a user‑centric, cost‑effective actuarial modeling software that streamlines the creation and analysis of Pension and Longevity Risk Transfer products. Their AI‑assisted Nice Engine automates workflows, reducing manual effort and increasing productivity for actuaries while delivering personalized support. By focusing on usability and openness, the platform helps firms achieve higher profitability with less time spent on complex modeling tasks.
Funding
Funding not disclosed
Founders
Product
Problem
Actuaries working on pension and longevity risk transfer products often rely on fragmented, manual workflows and legacy tools that are time‑consuming, costly, and difficult to scale, limiting productivity and profitability.
Solution
Nice Engine is an AI‑assisted actuarial modeling platform built specifically for Pension Risk Transfer (PRT) and Longevity Risk Transfer (LRT) products. The platform integrates AI at every step—from model changes and documentation to pricing and scenario analysis—to automate routine tasks and accelerate model development. Its user‑centric interface streamlines workflow, while cloud‑agnostic deployment lets firms control costs and choose preferred infrastructure. Built on extensive industry experience, Nice Engine offers rapid quoting, built‑in data automation, and comprehensive documentation to reduce operational overhead and make actuarial work more enjoyable.
Target Audience
Primary customers are actuarial teams at insurance carriers, consulting firms, and pension risk transfer specialists who need efficient, cost‑effective tools for PRT and LRT modeling.
Features
- AI‑driven assistance for model updates, documentation, and pricing calculations, reducing manual effort
- Smart data automation that synchronizes models and documentation automatically
- Cloud‑agnostic architecture allowing users to run the platform on any preferred cloud provider with predictable licensing fees
- Rapid quoting and scenario rerun capabilities for fast PRT/LRT analysis
- Integrated AI assistant and searchable knowledge base for instant answers and skill development
- Visual learning tools and detailed diagrams to aid model understanding and modification