Milliman releases new software platform for loss reserving
Actuarial firm Milliman has released a new software platform, which it describes as the next generation of advanced analytics software for loss reserving for the insurance and reinsurance industry.
Arius Enterprise is part of Milliman's Arius family of solutions and relies on the Arius software to provide analysis and modeling tools.
The release of Arius Enterprise specifically addresses challenges facing actuarial departments in mid-to-large insurance companies, including process inefficiencies, data management, workflow, reporting, and compliance.
"As the insurance industry faces disruption from evolving technology, our goal is to provide a cloud-based solution that will streamline companies' reserving processes and create much needed efficiencies," said Ken Scalf, Milliman's product leader of property and casualty reserving software.
"With Arius Enterprise, we have an InsurTech system that provides consistency, reliability, and control, so that actuaries can focus their time where it's most needed."