Because of existing and upcoming regulations, insurers perform quite a bit of analysis over their assets and liabilities. Actuaries need time to review and correct results before reviewing the reports with regulators. Today, it is common for quarterly reporting to require thousands of hours of compute time. Companies which offer variable annuity products must follow Actuarial Guideline XLIII which requires several compute intensive tasks, including nested stochastic modeling.
Solvency II requires quite a bit of computational analysis to understand the Solvency Capital Requirement and the Minimum Capital Requirement. International Financial Reporting Standard 17 requires analysis of each policy, reviews of overall profitability, and more. Actuarial departments everywhere work to make sure that their financial and other models produce results which can be used to evaluate their business for regulatory and internal needs.
Read about it in the Azure blog.