Navigate today’s most pressing health industry challenges with a leading global expert by your side.
Discover intelligent digital solutions to help improve outcomes, manage costs, and solve the toughest healthcare challenges.
Meet growing needs for innovative insurance solutions while increasing operational health and improving compliance.
Financial modeling & industrialization
Insurance risk assessment
Retirement & Benefits
Deliver on the promises of the past and create smart solutions for the future.
Compensations & benefits
Benefit plan evaluation
Manage complex risks using data-driven insights, advanced approaches, and deep industry experience.
Risk technology plays a major role
Auto policy underwriting
Software performance enhancement
Mortgage platform for investments & reinsurance
Solvency II reporting & compliance
This is a place where your ideas and insights make an impact. Where an independent, entrepreneurial spirit is an advantage. And where diversity of thought and experience makes us who we are.
Data-driven insight. Deep expertise. Transformative innovation. Since 1947, Milliman has delivered intelligent solutions to improve health and financial security.
Most major (re)insurers will have exposure to catastrophic loss in their portfolios whether they participate in the alternative capital market or not. In order to understand this risk, many license third-party vendor catastrophe models. Milliman can assist (re)insurers in recognising the adjustments needed during the modelling process to ensure the modelled results better represent their specific book of business.
This process of “owning one’s own view of risk” when it comes to catastrophe models can take several forms. One option is to adjust the inputs in the models to better represent internal views on the vulnerability of the exposures in their portfolio.
Another alternative is to adjust catastrophe model outputs by blending the results of several catastrophe models and/or scenarios together or adjusting the modelled results at low return periods to better represent the historical experience of the specific cedent or book. Milliman can play an important role for (re)insurers that need additional experience and/or capacity to complete these initiatives. Working in tandem with reinsurers, their models, and their data, Milliman consultants deploy their experience to help clients develop their own, nuanced view of risk.
Catastrophe risk is often one of the major inputs into a (re)insurer’s internal solvency or capital models. These internal models, which have long been used internally to inform strategy, are increasingly being used by some domiciles to determine a company’s solvency requirement.
Milliman has extensive experience in reviewing and validating internal capital models, including the inputs and assumptions related to catastrophe risk. Milliman can help a client ensure that their models meet industry best practices in their theoretical structure, key assumptions, technical implementation, use within the company, and documentation.
Aaron Koch is a principal and consulting actuary based in Northern Virginia. He joined Milliman in 2011.
Karl is a principal and consulting actuary with Milliman. He joined the firm in 1999. He works primarily for Bermuda-based clients.
We’re here to help you break through complex challenges and achieve next-level success.