Alveo’s PaSS will help Venerable focus on core business
New York, 21st July 2020 – Venerable, owner and manager of legacy annuity blocks, has chosen to migrate its data management to PaSS, the cloud-based managed service solution from Alveo.
Using PaSS will provide Venerable with an adaptable data integration, mastering, and distribution platform, which will enable them to more efficiently run its legacy infrastructure and focus their IT efforts on adding value for their customers and driving innovation.
Venerable was already using Alveo’s Prime time series management solution to source pricing data, validate and enhance quality via user-defined workflows, and derive curves and surfaces to value its customers’ annuities portfolio. This solution had been running on a public cloud platform, which was monitored and managed by the in-house IT team, a time-consuming and resource-intensive process.
The shift to PaSS was implemented in a short few months and ran in parallel with production before going live. Venerable has now migrated all its data management processes to PaSS. Changes to the solution are requested by Venerable through a simple change control process and deliverables are all measured against contracted SLAs.
Ray DiMarcello, Venerable, said: “We are excited to work with Alveo in managing our market data on the PaSS platform. Having Alveo’s experts manage their application on their platform frees us up to pursue value-added activities such as integration and analysis. Their team has been responsive and professional, and we were able to cutover production in a few short months with no major issues.”
Fabrice Proust, Head of Account Management, Alveo said: “Venerable is a strategic customer of Alveo and we have a close working relationship built on results and a shared vision of partnership. That relationship is further extended by Venerable’s decision to implement PaSS. We are constantly working to deliver best-practices and increased performance.”
Venerable is a privately held company with business operations based in West Chester, Pennsylvania, and Des Moines, Iowa. Venerable owns and manages the legacy variable annuity business acquired from Voya Financial, Inc. Created by an investor group led by affiliates of Apollo Global Management, LLC, Crestview Partners, and Reverence Capital Partners, Venerable is an emerging business with well-established, strategic investors, experienced in successfully building and growing insurance businesses with patient, long-term capital. For more information, please visit www.venerableannuity.com.
Alveo is the market leader in data quality software solutions for financial data. Focused on business user enablement, we help clients simplify complexity and ensure users across buy-side and sell-side make the most of their data assets by providing easy data integration, data cleansing, distribution, and data discovery solutions.
We service a blue-chip client base globally and our award-winning solutions provide rigorous processes to secure high-quality data, easy integration into business user workflows, and a trusted environment for advanced analytics. Delivered through managed services, cloud or on-premise deployment, our highly scalable products help the world’s most successful financial institutions meet their risk management, valuation, security master, and operational needs with mission-critical reliability.
For more information; www.alveotech.com