PROPERTY & CASUALTY RESERVING SOLUTIONS

More than software. A solution.

Over 25 years of reserving software experience at your fingertips.

Arius is Milliman’s award-winning property & casualty reserve analysis solution.

Arius® is a complete solution for analyzing unpaid claims liabilities, combining our industry-leading stochastic modeling tools with a robust suite of deterministic reserving tools and methods.

Property and casualty actuaries now have the tools you need to really understand your business, all at your fingertips. The result is a more efficient analysis process, and a deeper understanding of the underlying insurance exposure, for more informed business decisions.

Desktop reserving solution

Arius

Powerful deterministic tools

  • Examine your existing data in many new ways — Arius provides hundreds of exhibits, methods, and management reports, all pre-built and ready to use.
  • A full range of reserving methods address virtually any specialized need.
  • Easily build your own methods and reports.
  • Share your customized methods and reports with other analyses and other users.
  • Extensive graphics and diagnostic exhibits provide instant access to new insights from your current data.

A rich modeling solution

  • Complete distributions of possible outcomes.
  • Estimates of the mean and expected losses by percentile.
  • VaR and TVaR estimates.
  • Loss ratios, cash flows, and run-offs by percentile.
  • Simulate multiple segments together, along with correlation.

Arius works like you work

  • The system’s workflow is configurable.
  • Set Arius up to mirror the processes your reserving department currently uses.
  • Startup time is minimized.
  • Your team will recognize value from the software almost immediately.

Consistency streamlines your process

  • Streamline your review time and consolidation with Arius’ consistent reporting.
  • Reviewers know which calculations to expect and exactly where to look for specific information in each project.
  • Easily share new or customized reports among users and across projects.

Reliability helps managers be more efficient

  • Arius eliminates most of your current spreadsheet tech checking – a huge time savings for your team.
  • The system tightly controls the flow of all information.
  • Results from one calculation instantly update all related parts of the analysis.
  • All calculations are extensively tested by Milliman’s team of software and actuarial professionals.

Extensibility when needed

  • An application programming interface (API) helps you easily exchange data between Arius and spreadsheets.
  • Use Visual Basic or VBA to share data, factors, and selections with spreadsheet-based exhibits.
  • Eliminate the risks of copying and pasting.

Arius Enterprise: A better reserving process starts here

Arius Enterprise® builds on the Arius toolset to help you manage your overall reserving and reporting process, increase efficiency, and improve the accuracy of your reserve estimates.

With a powerful database, sophisticated analysis and reporting, automation, and rock-solid performance and security, your entire P&C reserve analysis process just got a lot better.

ENTERPRISE RESERVING SOLUTION

Arius Enterprise features

Arius Enterprise streamlines your entire P&C reserve analysis process. It gives you:

Data

The Arius database is custom designed to meet your company’s unique analysis style and reporting requirements and gives you complete control of your data.

Robust analysis tools

Arius Enterprise provides your users with direct access to Arius, the industry’s leading reserve analysis tool set.

Automation

Arius does much of the mundane work of P&C reserve analysis for you, so you can spend your valuable time where it matters most.

Customizable

Analysis templates

Consistent analysis across your department adds efficiency to your overall process.

Reporting

While you do most of your analysis down in the trenches, we understand that a lot of additional work goes into summarizing your results for final reporting.

Workflow

Project Management

Arius Enterprise helps you keep track of the status of all analysis projects throughout the reserving team.

Cloud-based
Cloud-based

Modern technology

The Microsoft Azure Cloud makes everything easier and more secure.

Security

We know that managing the security over your reserving processes is important to you. It is to us, too.


Arius Enterprise benefits

Arius Enterprise combines immediate access to all your data, superior tools to analyze and report on your results, and systems to automate much of the routine work in your regular analysis process. You get analyses that are efficient, consistent, and accurate. You can be more confident in your results and add more value to your organization.

Short time to value

  • Your users will be enjoying the benefits of Arius Enterprise in a matter of weeks.
  • Similar in-house development can take years and cost substantially more.
  • We handle most of the implementation, working closely with your team.
  • We will help you test the solution in your environment and we will train your professionals.
  • With Arius Enterprise, your team also gets the benefit of many other companies’ ideas and input.

Process redesign consulting

Our specialists will work with you to:

  • Understand your overall department goals and challenges
  • Review your current processes, workbooks, approaches, and resulting reports
  • Make recommendations based on best practices at similar insurers already benefiting from the system
  • Help implement a more efficient and informative overall reserving work stream

Arius analysis toolset

Arius Enterprise includes one of the most widely used actuarial analysis system in the world.

  • Arius is a complete framework for your entire P&C reserve analysis.
  • It offers over 40 deterministic reserving methods, more than 10 stochastic reserving models, and more than 200 exhibits and reports, already defined and ready to use.
  • Arius provides sophisticated analyses without formulas or programming hassles.

Triangles on Demand: Take control of your reserving data

With TOD, you’ll save hours every quarter summarizing and reconciling claim, expense, and premium detail. TOD quickly rolls up hundreds of millions of records into triangles of virtually any size and level of detail. Simply request your specific data sets from within Arius and all the resulting triangles appear in the system ready for you to use.

RESERVING DATA MANAGEMENT

Triangles on Demand benefits

Get the information you need when you need it

  • Get direct access to whatever data you need whenever you’re ready, delivered directly to your desktop.
  • Get any new grouping you want—for example, to take a closer look at a specific or challenging issue.
  • Get triangles by state or coverage rather than your normal feed of country-wide or sub-line triangles.
  • Look at data at specific claim limits to help with strategic planning.

IT: Keep the actuaries happy without sacrificing control

  • Actuaries can now generate their own roll-ups or detailed breakdowns directly from the source components.
  • Reconciling totals are automatic and instantaneous, assuring reliable numbers without IT’s extensive involvement.
  • Commercial-grade security, auditability, and effective use of the Microsoft Azure cloud help you keep the company and your users safe.

Milliman expertise

Milliman’s team of experts will work closely with both your actuarial and IT professionals to:

  • Help you take best advantage of TOD’s power and capabilities
  • Configure the system to work with your other in-house systems
  • Ensure all systems are reliably communicating to get you that important data as directly and efficiently as possible

Triangles on Demand in action

Video

Triangles on Demand demonstration

See how you can save hours every period rolling up, preparing, and reconciling loss, expense and claim details to meet your increasingly tight deadlines.

Watch the video

Milliman Claim Variability Benchmarks

Milliman Claim Variability Benchmarks™ (CVB) are new industry benchmarks that:

  • Help assess the quality of stochastic unpaid claim distributions for ERM and DFA projects
  • Help you understand correlation for aggregate distributions
  • Stochastically support deterministic reserve ranges

Milliman Claim Variability Benchmarks benefits

CVB is the only tool on the market to dynamically assess estimates of ranges, distributions, and correlation assumptions. With CVB, you can help avoid the costs of mis-estimating risk, which can lead to undercapitalization, underpricing, inadequate risk margins and other risk management issues, and improve the bottom line.

Understand your risk

Derived from extensive testing of more than 30,000 data sets and all long-tail Schedule P lines, the CVB help you understand and evaluate an insurance entity’s risk. Benchmarks are available for companies of all sizes and for companies outside the U.S.

The CVB guidelines can help assess model assumptions and results. In addition, the multiple model approach used in Arius to help derive the CVB provides a more robust estimate by also accounting for model risk.

Don’t underestimate the tail

The CVB uses industry data to help you:

  • Prevent underestimation of the tail of the unpaid distribution
  • Provide distribution information for use with deterministic estimates
  • Give your team some reasonableness tests for stochastic estimates

The CVB are available as an easy-to-use Excel add-in, so you can immediately benefit. Output is adaptable to reflect your company’s size and development patterns and includes line-of-business-based LDF patterns, unpaid distributions, and correlation values.


Contact an Arius expert

We’re passionate about partnering with people and working with new solutions to solve complex problems. Let’s chat about what’s going on with your business and how we can help.