February 20th, 2013

Guy Carpenter Launches MetaRisk® 7.1

Posted at 6:00 AM ET

Guy Carpenter today announced the release of MetaRisk® 7.1, the latest version of the firm’s premier risk and capital management decision making tool. The platform offers access to a variety of new features and enhancements that will improve usability, increase overall functionality and enable the development of more accurate and efficient risk and capital models.

MetaRisk provides users with the ability to see, understand and interact with the drivers of risk, assess options accordingly, and make informed, proactive decisions to grow the value of their business. The platform is integrated to provide comprehensive underwriting, reserve, catastrophe, credit and investment risk capabilities.

As the industry’s most dynamic and transparent risk and capital decision tool, MetaRisk allows a company to communicate its risk processes and decision rationale to all constituents - from management to shareholders, regulators and rating agencies. It also enables users to meet the rigorous demands of enterprise risk management and impending Solvency II requirements. With the release of version 7.1, the platform has evolved to offer deeper access to a variety of databases and risk intelligence that enables users to quickly evaluate and mitigate the risks most salient to their business. These latest improvements provide faster and efficient modeling capabilities with even greater accuracy and transparency of results.

“This newest installment of the MetaRisk platform delivers access to new business-critical intelligence that was not available before and illustrates our commitment to continue to invest in developing leading-edge products and services for our clients,” said Don Mango, Head of Enterprise Analytics for Guy Carpenter. “With this upgrade, users will be able to quickly identify the drivers of adverse risk scenarios, run sensitivity analysis and dynamically evaluate alternatives to mitigate risk and find opportunities to grow their business profitably.”

MetaRisk 7.1 will feature new capabilities and enhancements including:

  • Access to Catastrophe Models - A new import wizard allows direct access to RMS and AIR catastrophe model result databases. Through the new platform, users can now quickly and efficiently import data, blend results and modify event set frequencies and severities.
  • Reserve Runoff Scenarios - Guy Carpenter’s MetaRisk ReserveTM (patent pending) will produce reserve runoff scenarios ready for import into the new MetaRisk 7.1 platform. Users are able to correlate the impacts across business lines and with other financial risk drivers to more accurately capture the effects of reserve risk on economic capital.
  • Modeling Reinsurer Default - MetaRisk’s new Credit Risk functionality includes tables of reinsurer ratings and downgrade thresholds, allowing users to have the ability to model individual or classes of reinsurers and the impact of default on ceded loss amounts and company financials.

Additional enhancements have been made throughout the upgraded platform, including additions to policy profiles, frequency and severity libraries, reinsurance contract clause libraries, options for modeling correlation and report offerings. The platform’s other improvements include enhanced simulation performance, improvements to MetaRisk Fit and MetaRisk Reports, increased memory efficiency and multi-user support being made available for servers.

“With sustained global market and economic challenges ahead, the ability to clearly see the evolving landscape and accurately evaluate risk will be as crucial as ever,” said Steve White, Chief Actuary of Guy Carpenter. “Unlike many of the black box solutions in the marketplace, MetaRisk is designed to eliminate blind spots and allow users to make informed, proactive risk and capital management decisions with eyes wide-open.”

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