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Establishing a valid and realistic risk profile of their business and fully understanding their company’s risk exposure are some of the biggest challenges life insurers face today.
Up to now, a full and flexible valuation of complex life insurance liabilities required a nested stochastic approach, involving millions of scenarios and unbearable runtimes.
But today, insurers can utilise innovative solutions such as liability proxy models, which serve the following purposes:
Milliman STAR Solutions - NAVI® is a powerful software solution based on Least Square Monte Carlo (LSMC). NAVI’s proxy modelling techniques help life insurance companies enhance their risk modelling by dramatically reducing calculation time within a flexible and robust process.
NAVI offers the following features:
NAVI not only helps insurers gain faster calculation of Solvency II metrics and updated liability figures but also enhances risk modelling and risk aggregation. The ability to quickly update liability values and economic capital forecasts will become a part of the strategic business decision making by improving insight into the risks and behaviour of liabilities.
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