Nice Technologies Launches 'Nice Engine'--Empowering Actuaries by Rethinking Actuarial Modeling

FORT WAYNE, Ind., March 18, 2025 /PRNewswire/ -- The actuarial profession stands at a pivotal crossroads, driven by emerging technologies, evolving regulatory requirements, and shifting workforce skills. Responding to these trends, Nice Technologies, founded by actuaries and technology experts with extensive experience developing modeling and data management platforms for industry-leading insurance companies, today announced the official launch of Nice Engine, an innovative actuarial modeling platform specifically designed for Pension Risk Transfer (PRT) and Longevity Risk Transfer (LRT) pricing.

Recognizing a significant shift in the actuarial skillset landscape, Nice Technologies developed Nice Engine to leverage actuaries' expanded technical competencies, significantly reducing reliance on proprietary software. As actuaries increasingly learn programming languages such as Python and R, especially since R was recently incorporated into actuarial exams, Nice Engine integrates these familiar tools alongside widely used interfaces like Excel and Visual Studio. This approach simplifies the modeling process and amplifies the professional value of actuarial credentials beyond traditional contexts.

"We're not just building software; we're enhancing actuaries' professional growth by reinforcing universally valuable skills," said Igor Nikitin, Co-Founder & CEO of Nice Technologies. "Our goal is to empower actuaries with tools and knowledge that transcend our platform, benefiting them throughout their careers."

Nice Technologies was born directly from real-world challenges its founders faced in leading actuarial teams at major insurers: lengthy modeling projects, late nights pricing complex reinsurance deals, soaring cloud computing costs, and inadequate training on existing actuarial software. Driven by these experiences, Igor Nikitin, Tyler Furman, Jose Sanchez, and Jason Furman envisioned and built the actuarial platform they wished they had: a user-centric, practical, and cost-effective solution.

The resulting product, Nice Engine, addresses key pain points unique to the PRT/LRT market by significantly accelerating quoting timelines (up to 50% faster) and model development (up to 80% faster). The platform's innovative business model enables clients to achieve up to 70% greater productivity through improved staff efficiency, accelerated development cycles, and reduced overall costs—with the added flexibility of choosing their preferred cloud and consulting providers. Additionally, Nice Technologies uniquely provides clients with full access to the underlying Python source code, enabling actuaries to employ cutting-edge software development tools, such as Visual Studio, Git, and DevOps, dramatically enhancing flexibility, governance, and productivity compared to traditional actuarial software.

"Our clients have exclusive access to the underlying Python code, ensuring their actuarial modeling and skills remain adaptable and future-proof," Nikitin added. "We complement this with personalized, coaching-style onboarding, bridging any knowledge gaps and empowering actuaries to become independent, confident users."

More than just a software vendor, Nice Technologies is committed to building a thriving community by providing flexible integration options and tailored onboarding experiences. This comprehensive approach ensures that actuaries are well-equipped to confidently address today's challenges and are prepared for future industry and technological developments.

For more information, to book a demo, or to arrange an interview with our founders, please visit www.nicetechnologies.com.

About Nice Technologies
Nice Technologies is dedicated to transforming actuarial modeling into an empowering, cost-effective, and enjoyable experience. Founded by industry veterans, the company delivers innovative, user-focused solutions tailored specifically for Pension and Longevity Risk Transfer actuarial teams.

Media Contact
Igor Nikitin, ASA, MAAA
Nice Technologies
Email: [email protected]
Phone: +1 640-888-6843
Website: www.nicetechnologies.com

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SOURCE Nice Technologies