Be confident about your future
It is no longer enough to measure past performance and current activity to plan and manage your business. To be successful you need to plan for the future.
We provide financial and non-financial business planning models and consultancy to clients looking to gain a more scientific insight into the future, that can’t be achieved through traditional forecasting approaches.
Multi-dimensional, ‘living’ models are built to allow stochastic projection - that is, the automated simulation of many thousands of possible future scenarios based on past patterns and trends and subjective assumption. Automated statistical analysis of these thousands of scenarios allows users to see the probability of any given output exceeding any chosen value, or falling in any given range, along with an analysis of the most influential factors, uncertainty and risk.
Such models are often built generically to allow repeated use for updated data sets; for example for annual projections and can be integrated directly with clients’ systems, where required.
Benefits include:
- greater insight into the future of the business
- quicker, automated process
- highlighting areas of risk and impact, opportunities and efficiencies
- automatic data feed from existing and external sources
- more flexible reporting
- integrated with performance management and other processes.
The solution produces a series of meaningful statistics, graphs, and reports to help understand the results. The decision-making process is made easier and you can see where you need to focus attention and divert resources.
Typical usage of the models:
- capital adequacy/enterprise risk management modelling
- claims reserving
- reinsurance modelling and negotiation
- market penetration
- rating.
Project examples
Specialist marine mutual insurer
Developed interactive rating and capital adequacy model, as well as actuarial reports.
German reinsurance company
Designed a solution to collate, distribute and monitor reinsurance assets. The aim was to monitor over-exposure to reinsurers and to aid placing.
Leading mutual marine liability insurer
Provided claims reserving assistance, including risk management and capital adequacy modelling.
Large German insurance and reinsurance company
Created claims reserving models fed by a data warehouse and with dynamic feeds of actuarial outputs back into analytics, to enable flexible analysis of results.