2014 press releases

News from Milliman

• Milliman wins award for best actuarial modeling software

  15 December 2014

  Milliman, Inc. today announced that the firm’s cloud-based Integrate™ solution has been recognized as “Best Actuarial Modelling Software” in the 2014 Insurance Risk Awards. Integrate is the industry’s first cloud modelling platform and builds off of MG-ALFA®, which has been a market leader in asset liability/modelling for more than 20 years.

• Milliman analysis: Corporate pension funded status drops another $8 billion in November

  09 December 2014

  Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index (PFI), which consists of 100 of the nation’s largest defined benefit pension plans. In November, these plans experienced a $26 billion increase in pension liabilities and an $18 billion increase in asset value, resulting in an $8 billion increase in the pension funded status deficit.

• Milliman helps clients meet investment challenges of retirees with Managed Risk Strategy

  01 December 2014

  Maritime Super, Plato Investment Management and BetaShares have this year employed Milliman’s Managed Risk Strategy (MMRS), which stabilizes investment volatility and reduces the impact of major market declines by dynamically managing market exposure using derivatives.

• Milliman helps clients meet investment challenges of retirees with Managed Risk Strategy

  01 December 2014

  Maritime Super, Plato Investment Management and BetaShares have this year employed Milliman’s Managed Risk Strategy (MMRS), which stabilizes investment volatility and reduces the impact of major market declines by dynamically managing market exposure using derivatives.

• Milliman named top-10 investment site for mobile users

  24 November 2014

  Milliman, Inc., a premier global consulting and actuarial firm, has been recognized as one of ThinkAdvisor’s “10 Best Investing Sites for Mobile Users,” in recognition of the excellent mobile site provided to defined contribution plan participants. The research, conducted by the Boston-based firm Dalbar, included 46 financial services company sites and considered 11 distinct evaluation categories.

• Milliman analysis: Corporate pension funded status drops by $8 billion in October

  07 November 2014

  Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index (PFI), which consists of 100 of the nation’s largest defined benefit pension plans. In October, these plans experienced a $22 billion increase in pension liabilities and a $14 billion increase in asset value, resulting in an $8 billion increase in the pension funded status deficit.

• Royal London selects Milliman for actuarial systems transformation

  03 November 2014

  Milliman, Inc. today announced that the firm has been selected by Royal London, a UK-based mutual insurance company, to lead a transformation of the insurer’s actuarial systems and processes.

• Milliman receives top award for captive insurance services

  27 October 2014

  Milliman, Inc., a premier global consulting and actuarial firm, was selected as the actuarial firm of the year at the 2014 US Captive Services Awards. The award, presented by Captive Review, is given to the firm demonstrating the highest level of service meeting their clients' needs over the last 12 months.

• Milliman releases Arius 2.4, a complete solution for analyzing unpaid claims liabilities for P&C insurance

  24 October 2014

  As previewed at last month’s Casualty Loss Reserve Seminar in San Diego, Milliman, Inc., a premier global consulting and actuarial firm, announced today that it has released version 2.4 of Arius, its state-of-the-art loss reserving system for property & casualty insurers. This latest release offers significant enhancements in the areas of advanced reporting and sophisticated analysis.

• Milliman analysis: Multiemployer pension plans performed well in 2013 but many remain stuck in the mud

  10 October 2014

  Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its inaugural Multiemployer Pension Funding Study (MPFS), which analyzes the cumulative funded status of all U.S. multiemployer pension plans. In 2013, these pensions were buoyed by strong investment performance—a $45 billion reduction in the funding deficit, which represents a 9% improvement in funded status.

• Milliman analysis: Corporate pension funded status improves by $26 billion in September

  07 October 2014

  Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index (PFI), which consists of 100 of the nation’s largest defined benefit pension plans. In September, these plans experienced a $45 billion decrease in pension liabilities and a $19 billion decrease in asset value, resulting in a $26 billion decrease in the pension funded status deficit.

• Milliman opens South Africa office

  30 September 2014

  Milliman, Inc., a premier global consulting and actuarial firm, today announced the opening of an office in Cape Town, South Africa. The office will be led by industry veteran David Kirk and will serve Sub-Saharan Africa. The Cape Town location is a reflection of the sophistication and scale of the South African financial services sector and its role in leading financial services development on the African continent.

• Milliman analysis: Corporate pension funded status drops by $22 billion in August

  08 September 2014

  Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index (PFI), which consists of 100 of the nation’s largest defined benefit pension plans. In August, these plans experienced a $46 billion increase in pension liabilities and a $24 billion increase in asset value, resulting in a $22 billion increase in the pension funded status deficit.

• Milliman Risk Institute collaborates with Oxford Economics to publish new enterprise risk management research

  03 September 2014

  Milliman, Inc., a premier global consulting and actuarial firm, today announced the availability of new research, “Creating value through enterprise risk management.” The survey of North American risk executives is the result of a collaboration between the Milliman Risk Institute and Oxford Economics, and it details the evolution that is underway for most companies as they pursue a robust enterprise risk management (ERM) framework.

• Milliman analysis: Corporate pension funded status drops by $5 billion in July

  14 August 2014

  Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index (PFI), which consists of 100 of the nation’s largest defined benefit pension plans. In July, these plans experienced a $3 billion decrease in pension liabilities and an $8 billion decrease in asset value, resulting in a $5 billion increase in the pension funded status deficit.

• Milliman Releases Annual Embedded Value Study

  16 July 2014

  Milliman, Inc., a premier global consulting and actuarial firm, today announced the availability of a new report detailing embedded value results for 32 major insurance companies in Europe.

• Milliman analysis: Corporate pension funded status improves by $14 billion in June

  09 July 2014

  Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index (PFI), which consists of 100 of the nation’s largest defined benefit pension plans. In June, these plans experienced a $3 billion decrease in pension liabilities and an $11 billion increase in asset value, resulting in a $14 billion decrease in the pension funded status deficit.

• Milliman survey indicates Indexed Universal Life and chronic illness riders remain priority for life Insurers

  07 July 2014

  Total Indexed Universal Life (IUL) sales, as a percent of total Universal Life (UL) and IUL sales combined, increased from 14% in 2010 to 31% during the first nine months of 2013, as reported by participants in Milliman’s annual comprehensive study of UL and IUL issues. In recent years more companies have entered the IUL market. Expectations of survey participants suggest that companies will focus more on cash accumulation IUL and current assumption IUL products, and less on universal life with secondary guarantees (ULSG). Five of the 26 survey participants reported discontinued sales of ULSG products.

• Milliman MedInsight picks Microsoft Analytics Platform System to boost performance and efficiency

  26 June 2014

  Milliman, Inc., one of the premier global consulting and actuarial firms, announced today its MedInsight® product team has chosen Microsoft’s Analytic Platform System (APS) for its next generation MedInsight release later in 2014. This important technical decision comes after a formal proof of concept that resulted in significant gains in system performance, data loading and refresh cycle times, and data storage.

• Federal health exchange risk adjustment model now available in Milliman Advanced Risk Technologies’ MARA software

  26 June 2014

  Milliman, Inc., a premier global consulting and actuarial firm, today announced that it has expanded its Milliman Advanced Risk Adjusters (MARA) software to include greater flexibility for calculating risk scores in and outside of health exchanges. The latest release includes the federal risk adjustment model developed by the U.S. Department of Health and Human Services (HHS) for use in the individual and small group marketplaces starting in 2014. The complex HHS-HCC model set, which employs the hierarchical condition category (HCC) grouping logic, requires specific diagnosis and demographic handling to calculate risk scores.

• Milliman to showcase Healthcare Intelligence products at America’s Health Insurance Plans (AHIP) 2014 Institute Conference

  11 June 2014

  Milliman, Inc., one of the premier global consulting and actuarial firms, announced today that it will showcase its growing line of Healthcare Intelligence products and solutions at AHIP’s Institute 2014, June 11-13, in Seattle. Milliman is exhibiting as an AHIP major sponsor and conference attendees will be able to stop by booth 810 to learn more about or schedule private presentations for all Milliman Healthcare Intelligence products.

• Milliman Medical Index: Healthcare costs climb to $23,215 for a typical American family in 2014

  21 May 2014

  Milliman, Inc., a premier global consulting and actuarial firm, today released the 2014 Milliman Medical Index (MMI), which measures the cost of healthcare for a typical American family of four receiving coverage from an employer-sponsored preferred provider plan (PPO). In 2014, costs for this family will increase by 5.4% ($1,185), resulting in a total cost of $23,215. The employer pays $13,520 of this and the employee—through payroll deductions and cost sharing at the time of service—pays $9,695.

• Milliman analysis: Pension funded status deficit increases by $15 billion in April

  06 May 2014

  Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index (PFI), which consists of 100 of the nation’s largest defined benefit pension plans. In April, these plans experienced a $21 billion increase in pension liabilities and a $6 billion increase in asset value, resulting in a $15 billion increase in the pension funded status deficit.

• Milliman analysis: Pension funded status drops by $5 billion in March

  14 April 2014

  Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index (PFI), which consists of 100 of the nation’s largest defined benefit pension plans. In March, these plans experienced a $5 billion increase in pension liabilities in a month with flat investment return, resulting in a $5 billion increase in the pension funded status deficit.

• Milliman analysis: In 2013, pension plans with the highest equity exposure were the biggest benefactors

  02 April 2014

  Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its 2014 Pension Funding Study, which analyzes the 100 largest US corporate pension plans. In 2013, these pension plans experienced historic improvement, with plan liabilities decreasing by 7.5% and assets improving by an average of 9.9%. This resulted in a $198.3 billion improvement in the funded status deficit from year-end 2012. While it was a “win-win” year for most sponsors, those with higher equity allocations performed the best.

• Milliman analysis indicates Dutch pension system among world’s best despite financial pressures

  25 March 2014

  Milliman, Inc., a premier global consulting and actuarial firm, today released results of research into 14 countries’ pension systems. According to different indices, the Netherlands has a pension system that has been top ranked among these 14 countries for many years. However, cracks in the Dutch system are visible as a result of the financial crisis, disappointing investment returns, low interest rates, and increasing longevity. An important question is whether pension systems in other countries are experiencing the same problems and whether those systems might be more resistant to these economic forces.

• Milliman announces new hires in the Nordics

  24 March 2014

  Milliman today announced the next step in building its offering in the Nordic markets with the recruitment of two new hires in Stockholm. Anni Pilbacka and Johan Dellner have joined Milliman bringing with them substantial local and international experience in the management of life insurance business and financial modelling.

• Milliman analysis: Pension funded status improves by $11 billion

  07 March 2014

  Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index, which consists of 100 of the nation’s largest defined benefit pension plans. In February, these plans experienced a $32 billion increase in asset value and a $21 billion increase in pension liabilities, driving an $11 billion improvement in pension funded status.

• Milliman analysis: Pension funding status declines to start year

  07 February 2014

  Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index, which consists of 100 of the nation’s largest defined benefit pension plans. In January, following a year of major improvement, these plans experienced a $7 billion decrease in asset value and a $60 billion increase in pension liabilities, driving a $67 billion decline in pension funded status. The blow to pension funded status follows an historic year that saw $318 billion in funded status improvement.

• Milliman analysis: Pension funding status declines to start year

  07 February 2014

  Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index, which consists of 100 of the nation’s largest defined benefit pension plans. In January, following a year of major improvement, these plans experienced a $7 billion decrease in asset value and a $60 billion increase in pension liabilities, driving a $67 billion decline in pension funded status. The blow to pension funded status follows an historic year that saw $318 billion in funded status improvement.

• Milliman enhances mobile apps for retirement plan participants, incorporates behavioral finance principles

  28 January 2014

  Milliman, Inc., a premier global consulting and actuarial firm, today announced enhancements to its mobile “app” technology that help to further simplify the mobile experience for participants in retirement plans administered by Milliman. By incorporating behavioral finance concepts, the enhanced technology furthers Milliman’s mission to provide participants with a comprehensive yet accessible user experience that serves all their needs, regardless of the way in which they access their plan.

• Milliman analysis: Pension funding status climbs to 95.2% at year-end

  07 January 2014

  Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index, which consists of 100 of the nation’s largest defined benefit pension plans. In December, these plans experienced a $10 billion increase in asset value and a $10 billion decrease in pension liabilities, powering a $20 billion improvement in pension funded status. The improvement drove the pension funded status deficit down to $73 billion at year end, culminating a year that saw $318 billion in funded status improvement.

• Milliman completes large industry experience study of individual life insurance products

  06 January 2014

  Milliman, Inc., a premier global consulting and actuarial firm, today announced the availability of a new life insurance experience study. This is the second Milliman Industry Mortality Study and Analysis (MIMSA II), a comprehensive mortality, lapse and cause of death study. MIMSA II examines experience from 37 companies over calendar years 2000-2011. The study includes mortality exposure of over $63 trillion, 2.7 million claims, and 14 million lapses. MIMSA II findings include a higher-than-expected overall mortality improvement. MIMSA II also now has enough credible data to provide mortality rates beyond 100 for females.

• Milliman releases LCase, a claims management / case reserving solution for long-term workers compensation and other liability claims

  06 January 2014

  Milliman today announced the release of LCase, its state-of-the-art liability claims management and case reserving solution. LCase is designed to reduce the time workers compensation professionals spend manually reading claim notes by making essential information available in discrete data fields on an easy-to-review dashboard. LCase powers enhanced claim management and case reserving and utilizes an extensive data field set that helps translate unstructured notes into useful, actionable information.

• Summit and Milliman’s actuarial review of the FHA Mutual Mortgage Insurance Fund for FY2013 released

  06 January 2014

  Milliman, Inc., a premier global consulting and actuarial firm, and Summit, a Washington, D.C.-based specialized analytics-advisory firm, today announced the availability of two detailed reports estimating the economic value of the Federal Housing Administration’s (FHA) Mutual Mortgage Insurance (MMI) Fund. The FHA released these reports publicly and they are now available online.