July 25th, 2011

Guy Carpenter Introduces MetaRisk® 6.0 For Enhanced Risk and Capital Management Decision Making

Posted at 1:00 AM ET

Guy Carpenter & Company announced the release of MetaRisk 6.0, the latest version of the firm’s risk and capital decision tool. MetaRisk gives users the ability to interact with the drivers of risk in order to understand systemic and unique risk sources, reflect correlations among assets and liabilities, allocate capital and the cost of reinsurance, monitor earnings volatility and quantify overall capital adequacy.

MetaRisk allows a company to communicate its risk processes and decision rationale to all constituents - rom management to shareholders, regulators and rating agencies. The platform was expanded as part of Guy Carpenter’s commitment to capital advisory services, which encompass financial, risk and capital analysis as well as strategic advice on emerging accounting, regulatory, rating agency and enterprise risk management issues.

MetaRisk now features a number of new capabilities and enhancements, including:

  • Greater speed and performance - produces results up to 10 times faster. Through the use of multiple processors, MetaRisk can run millions of simulations on one computer in less time than other models.
  • Unique auditing features - allows for easy demonstration of best practices and validation of users’ risk and capital models with all constituents. For enhanced transparency, MetaRisk provides a detailed log of all model changes, including every update and a record of when and by whom each update was made.
  • Flexible financials - supports US, UK, French and German GAAP accounting standards. Users can easily customize accounting standards to deliver on regulatory financial reporting requirements.
  • Calculation of earned premium - delivers more realistic corporate model results through a sophisticated approach. The platform calculates earned premium based on the input of written premium and earning patterns.
  • Automatic calculation of reserve development factors - automates the complex calculation of reserve development factors. This helps users align more closely with their reserving department through more realistic modeled results.

Additional enhancements have been made throughout the MetaRisk platform, including improvements in database space, memory allocation and utilization, to deliver greater efficiencies and overall performance.

Bill Kennedy, CEO of Global Analytics and Advisory, stated, ”We are proud of our investment in MetaRisk 6.0. Designed as an adaptable platform, it delivers huge benefits to clients who need to make business-critical decisions with confidence. MetaRisk delivers comprehensive underwriting, reserve, catastrophe, credit and investment risk capabilities and allows users to meet stringent enterprise risk management and Solvency II requirements.”

Steve White, Chief Actuary, added, ”With this newest version of MetaRisk technology, we have surpassed other platforms in speed and functionality for economic modeling. MetaRisk users can run more simulations in less time to produce more stable, transparent results. With MetaRisk, users can dig deeper into the underlying drivers of risk, run multiple sensitivity analyses and quickly evaluate alternatives to mitigate risk.”

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