Milliman's latest Arius release provides enhanced cash flow analysis to help actuaries with business planning and international reporting

SEATTLE, Feb. 2, 2021 /PRNewswire/ -- Milliman, Inc., a premier global consulting and actuarial firm, announced today that it has released the latest version of its Arius^® solutions, a family of state-of-the-art reserve analysis systems for property and casualty insurers. This update provides significant enhancements to the systems' analytical, reporting, and data management tools.

This release provides expanded cash flow analysis and reporting to help actuaries and insurance analysts more easily address IFRS-17, Solvency II, and other management requirements. It also provides enhanced interpolation and extrapolation capabilities so that actuaries can take full advantage of valuable historical and industry data.

In addition, the new release of Arius Enterprise^® – Milliman's reserving solution designed specifically for larger insurers and self-insureds – now takes advantage of Microsoft's Azure Data Explorer (ADX) for high-performance processing of very large datasets.  ADX is a new Azure-based database technology that provides significant performance improvements over traditional technologies for the vast amounts of data available to insurers. With ADX, Arius can execute complex data queries up to 30 times faster than traditional database solutions, aggregating large volumes of claims data – even billions of records – without incurring performance costs.

Ken Scalf, reserving products manager at Milliman, said, "Our clients are continually finding additional ways that Arius can improve the efficiency and reliability of their overall reserving process. These latest enhancements in analysis, reporting, and data handling will allow actuaries to analyze their results in more detail and provide richer reporting and more informed management decision-making."

About the Arius family of solutions
The Arius solution set includes Arius Deterministic, Arius Stochastic, Triangles on Demand^®, and Arius Enterprise. Arius Deterministic and Stochastic are self-contained reserve analysis systems that eliminate the potential spreadsheet risk inherent in tools developed in-house by many insurance actuarial teams. Triangles on Demand (ToD) uses the latest cloud technology to instantly aggregate millions of records of loss and claims data on the fly for analysis in Arius. Designed specifically for large insurance carriers and self-insureds, Arius Enterprise combines the Arius analysis solutions and ToD with sophisticated Microsoft Azure-based project, user, and reporting management solutions to address the added efficiency and reliability requirements of sophisticated reserving departments. Milliman's Claim Variability Benchmarks provide benchmark statistics for comparison with an insurer's own data, drawn from statistical analysis of 5,100 companies and over 30 years of activity. More information about the Arius suite of solutions is available at www.actuarialsoftware.com.

Additional information about Microsoft Azure Data Explorer is available here.

About Milliman
Milliman is among the world's largest providers of actuarial and related products and services. The firm has consulting practices in healthcare, property & casualty insurance, life insurance and financial services, and employee benefits. Founded in 1947, Milliman is an independent firm with offices in major cities around the globe.  For further information, visit milliman.com.

SOURCE Milliman, Inc.

Related Links

www.milliman.com

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