Global consulting and actuarial firm Milliman has released version 2020b of its Arius reserve analysis systems for property and casualty insurers. The update provides significant enhancements to the products’ analytical capabilities and additions to their reporting and data-management tools.
The release adds new generalized linear modeling (GLM) capabilities that allow actuaries to better model and understand claim costs. GLM tools are especially useful when analyzing periods of inflationary pressure on the claims process or significant changes in claims handling within a company or throughout the industry, Milliman said.
“Our Arius solutions are specifically designed to help our clients better understand and account for the complexities in their business,” said Ken Scalf, reserving products manager at Milliman. “This release provides a number of new tools to help actuaries with sophisticated calculations, as well as data and report management, so they can focus on the areas where their substantial expertise can provide the most value to their organization.”
