Aon Benefield has licensed ReMetric for Life Health and Pensions, Aon Benfield’s risk and capital modelling platform, to insurer AmTrust at Lloyd’s.
The platform enables insurers to perform ‘what if’ analyses and assess the impact of underwriting new lines of business with different pricing and reinsurance options.
In addition, as an existing user of the general insurance version of ReMetrica for its internal capital model, the new components for life, health and pensions mean that results from both its life and non-life businesses can be aggregated for a holistic view of its capital positions.
ReMetrica for Life, Health & Pensions, which was launched in January, evaluates the risks of long-term products to more accurately shape reinsurance purchases, predict cash flow and analyse financial strategies.
George Sweatman, chief risk officer for AmTrust at Lloyd’s, commented: “ReMetrica’s proven track record with AmTrust meant we were keen to adopt its Life, Health & Pensions edition as our business needs evolve.”
“The platform was quick to integrate and easy to use which has allowed our actuaries to be self-sufficient and undertake more insightful analysis. This will also, crucially, allow us to model our life and non-life liabilities together seamlessly.”
Irfan Akhtar, head of development for ReMetrica for Life, Health & Pensions, added: “These new components employ a sophisticated but simple-to-use interface so insurers can quickly and efficiently set-up models. As part of the support package, our life actuaries managed the data conversion process from AmTrust’s existing system to ReMetrica.”
