Navigate today’s most pressing health industry challenges with a leading global expert by your side.
ACO utilization & cost evaluation
Healthcare cost modeling
Preventive digital health
Insurance risk assessment
Medicare plan selection solution
Healthcare risk adjustment
Meet growing needs for innovative insurance solutions while increasing operational health and improving compliance.
Property & casualty advisory services
Modern flood insurance program
Investment, advisory & trading services
Financial modeling & industrialization
Geographic rating insights
Premium comparison platform
Retirement & Benefits
Deliver on the promises of the past and create smart solutions for the future.
Pension administration & communication
Retirement benefits administration platform
Compensations & benefits
Benefit plan evaluation
Health & welfare benefits administration platform
Manage complex risks using data-driven insights, advanced approaches, and deep industry experience.
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 recognizing the adjustments needed during the modeling process to ensure the modeled 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 modeled 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 with Milliman's Insurance-Linked Securities (ILS) Group, US P&C Division.
Karl is a principal and consulting actuary with Milliman. He joined the firm in 1999. He works primarily for Bermuda-based clients.
Ask the tough questions. We’re ready for them.