EasyRe, a fitting, simulation and reinsurance optimisation tool
Property and casualty companies rely on EasyRe, which offers insurers the tools and methods for the full scope of reinsurance treaty pricing and optimisation, especially during the renewal process. EasyRe, developed by Milliman actuaries and IT professionals over several years, is cost effective and user-friendly.
A Software as a Service (SaaS), EasyRe is available worldwide and provides unparalleled information to companies, which in turn leads to significant advantages when negotiating reinsurance conditions.
EasyRe’s modular structure can be smoothly integrated into a company’s IT architecture without overlapping existing software. EasyRe is easy to use with a professional and intuitive interface. Results are clear because of full transparency and an audit track through downloadable replicating Excel files.
How EasyRe works
It is made up of four fully independent modules:
- Module 1: Projection of individual claims. Builds a vector of ultimate losses based on the most advanced actuarial projection methods.
- Module 2: Curve fitting. Uses the Module 1 vector of ultimate losses (or any other vector of numbers) and chooses the best statistical distribution that fits the data.
- Module 3: Simulation of a statistical distribution. Takes the Module 2 combination of Frequency x Severity models (or any other combination among the three frequency and six severity available distributions) and generates individual losses.
- Module 4: Reinsurance pricing and optimisation. Inputs the Module 3 loss table (or any other loss table) and prices the most common reinsurance covers defined by the user.