Guy Carpenter has released its newest software platform, MetaRisk 7.1, allowing users to assess organizational risks and meet enterprise-risk-management (ERM) and Solvency II requirements.
The new version features enhanced catastrophe-modeling, reserve-scenario and reinsurer default-risk-analysis capabilities, in addition to the program's original underwriting, reserve, catastrophe, credit and investment-risk-evaluation functions.
“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,” says Don Mango, head of enterprise analytics for Guy Carpenter.
More specifically, the new version includes:
- Access to RMS and AIR catastrophe model result databases, from which MetaRisk 7.1 can import data to blend results and modify event frequency and severity based upon the client's unique business variables.
- The MetaRisk Reserve tool produces reserve-runoff scenarios to correlate impacts across business lines and other financial-risk drivers on the client's capital.
- A new Credit Risk list of reinsurer ratings and downgrade thresholds that allow users to model reinsurer classes and the impact of default on ceded loss and company financials.
“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,” says Steve White, Guy Carpenter's chief actuary. “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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