August 14th, 2014

Guy Carpenter Launches MetaRisk® 7.3

Posted at 6:30 AM ET

Guy Carpenter today announced the release of MetaRisk® 7.3, the latest version of the firm’s premier risk and capital management decision-making tool.

As the industry’s most dynamic and transparent risk and capital decision-making 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 Solvency II and ORSA requirements. With the release of version 7.3, 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 to MetaRisk 7.3 further emphasize our commitment to providing key decision-makers with a faster, deeper and more sophisticated view of the complex risk drivers throughout their business,” said Donald Mango, Vice Chairman of Enterprise Analytics for Guy Carpenter. “MetaRisk 7.3 represents the most innovative, powerful and efficient economic capital tool for our clients.”

MetaRisk 7.3 provides enhanced features in the areas of reinsurance, catastrophe modeling and capital modeling. This latest update supports direct links to AIR Touchstone catastrophe model databases and includes a new feature, called “Structure Mode,” specifically geared toward reinsurance users. The new “Structure Mode” streamlines the process of reinsurance evaluation and provides a dynamic pricing view, which allows for ad-hoc pricing and simple result comparisons instantaneously. This gives underwriters, brokers and ceded reinsurance professionals more efficient decision-making when it comes to determining the best reinsurance solutions.

The capital modeling enhancements reflect several new features including new methods for reserving by line of business. MetaRisk 7.3 also provides improvements to usability and overall functionality including: reinsurance contract clauses, new grid “views” for aggregates and lines of business, report sets by variation that allow users to run only what is needed for each variation, and new advanced reporting capabilities in MetaRisk ReportsTM.

MetaRisk 7.3 delivers a fully integrated platform that enables insurance companies to better understand the drivers of risk, assess their options, and deploy their capital in a timely and efficient manner. It delivers comprehensive underwriting, reserve, catastrophe, credit, and investment risk capabilities in a single economic capital planning solution, providing users with the ability to make informed, proactive decisions that expand the value of their business. MetaRisk is now licensed by over 100 companies and has more than 700 users worldwide.

MetaRisk 7.3 is part of Guy Carpenter’s suite of economic capital modeling solutions and will be featured at Guy Carpenter’s upcoming ERM and Capital Modeling Conference on September 8-10 in Las Vegas as well as Guy Carpenter’s Asia Pacific MetaRisk Conference on September 18-19 in Tokyo.

New features of MetaRisk 7.3 include:

  • • Direct Links to AIR Touchstone Catastrophe Models - MetaRisk 7.3 supports direct import from AIR Touchstone model databases.
  • • New Line of Business Reserving Methods - MetaRisk 7.3 now supports blending of the traditional Expected Loss Method and the new “Ultimate Loss Method” for greater control of modeled reserves.
  • • Excess with Financials Contracts - Simplifies the modeling of ceded reserves.
  • • Enhanced Derived Inflations - Allows straightforward modeling of “stressed scenarios” by using inflation shocks.
  • • Accounting Treatment by Bond - Provides more realistic reporting in both GAAP and Statutory accounting standards.
  • • New Income Statement and Asset Reports - New reports break down Investment Income by type and asset, and report on individual assets including investment income and capital gains.

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