Guy Carpenter & Company has released MetaRisk 7.1, the latest version of the firm’s premiere risk and capital management decision making tool. The platform promises to enable the development of more accurate and efficient risk and capital models.
“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, reserve runoff scenarios and 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 modelling 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.”
