Tag Archives: InsuranceERM

Milliman’s Arius named “Best reserving solution” in 2017 InsuranceERM Awards

Milliman has announced that Arius®, Milliman’s advanced analytics loss reserving software for insurers and reinsurers, was named “Best reserving solution” in the 2017 InsuranceERM awards. Senior industry experts from across Europe and the U.K. served as judges for the award.

The recognition comes as Milliman launches Arius 3.0, which provides significant enhancements to the software’s automation capabilities, together with key additions to its reporting tools. This is the thirteenth major release of new functionality since Arius’ introduction four years ago.

“Our goal with Arius is to provide an InsurTech solution that will increase efficiency and streamline insurance companies’ reserving processes,” said Ken Scalf, Property & Casualty Software Products Manager at Milliman, “and we’re thrilled it’s being recognized as “Best reserving solution” by InsuranceERM. Arius provides much-needed reliability and efficiency in this era of increased industry disruption.”

In addition to the industry’s leading desktop loss analysis toolset, Arius 3.0 debuts as the centerpiece of Milliman’s just-released Arius Enterprise solution. The new Enterprise system provides reserving departments with cloud-based centralized data, department-wide project management, automation, governance tools, and sophisticated reporting and data visualization. Arius Enterprise, which runs on the Microsoft Azure platform, specifically addresses the challenges faced by mid-to-large sized insurance companies.

Recovery and resolution planning considerations

Recovery and resolution plans (RRPs) are receiving a lot of attention from regulators lately. In an InsuranceERM article, Milliman consultants Bridget MacDonnell, Eamonn Phelan, and Eoin King explore the Solvency II requirements related to RRPs for insurers and reinsurers.

The article is based on the authors’ paper “Recovery and Resolution Plans: Dealing with financial distress.”