Algorithmics, a provider of enterprise risk solutions, announcedthat, following its acquisition of VIPitech in June 2010, it hasmade significant steps towards the strategic integration andalignment of VIPitech within Algorithmics.

From now on, VIPitech will be known as Algo Financial Modelerand will continue to be sold as a standalone product and also aspart of Algorithmics’ integrated family of insurance solutions.

“Following the successful integration of the VIPitechbusiness into Algorithmics, the time is right to name VIPitech tofit in with Algorithmics’ family of products,” says Andrew Aziz,executive vice president of buy-side solutions at Algorithmics.“The product has a key role and future in our insurance solutionstrategy and. Since the acquisition, we have retained all existingVIPitech clients, acquired some important new clients and havedeveloped a growing pipeline of new prospects. On the developmentfront, we are continuing our extensive program of productenhancement.”

“We are excited by the immediate impact that our producthas had within Algorithmics since the acquisition,” says CandiceThompson, senior director Algo Financial Modeler. “The future forAlgo Financial Modeler is bright, both as a standalone offering andas an integrated solution within Algorithmics. We continue toinvest in product development to retain our leadershipposition.”

The latest release of Algo Financial Modeler, Version 1.5,contains technological innovations that have the potential toreduce overall hardware costs and improve model run times,according to Thompson.

“That is particularly important for Solvency II, otherrisk-based capital regimes and accounting principles,” shesays. “We have observed some models running over ten timesfaster on the new version.”

Further enhancements to Algo Financial Modeler are plannedand a development roadmap has been published to clients andprospects outlining enhancements to the product in line with clientand target market needs over the next few years.