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SOFTWARE PRODUCTS

The firm's three software products set a new standard for ERM software solutions. Specifically, they transform risk management from a compliance exercise into a process that supports risk based decision making and adds tangible value.

ABOUT OUR PRODUCTS

 
 
Enterprise Risk Manager
The Enterprise Risk Manager™ is the first risk management solution that enables practitioners to systematically identify and assess their key enterprise/operational risks in an objective, transparent and theoretically valid manner. It is also the first solution that allows executive line managers to use this type of information to make more informed, risk-based strategic decisions.
  • Allows for all key risks and sub-risks (at any level of granularity) to be assessed based on a mature, theoretically valid conception of risk.

  • Enables managers, senior managers and C-level officers to optimize risk-reward, risk-control and risk-transfer, in the context of cost-benefit analysis, at the risk tolerance level of the stakeholders.

  • Allows for all relevant information, i.e., hard data, soft data and/or expert opinion – and any combination of the three, to be incorporated into the analysis.

  • Produces virtually instantaneous risk results by employing an ultra-high speed Monte Carlo simulation engine. Ideal for “what-if” scenario analysis.

  • Offers myriad practical risk management applications. Can be used to analyze the feasibility of new business proposals, as well as the viability of investments in risk mitigation (improved controls) and risk transfer (insurance) – based on the Cost of Risk method.

  • Leverages complex algorithms and mathematical techniques, such as the ALEC method and advanced Monte-Carlo simulation. Nevertheless, this highly intuitive and user-friendly tool requires virtually no prior knowledge of mathematics or statistics. Perfectly suited for executive decision-makers.
Model Validator
The Model Validator allows an analyst to validate the core assumptions underlying a property-casualty loss model. Specifically, it enables users to empirically validate many complex actuarial modeling concepts in a “controlled environment.” Examples: How sensitive are model results to changes in the data collection threshold? What is the impact of a severity cap? Is it theoretically valid to independently fit frequency and severity distributions when the data are heterogeneous? Are some frequency/severity distributions universally better or worse than others? How reliable are the standard goodness-of-fit tests and how useful is graphical analysis? How can one combine data from different sources (e.g., internal data, external data and expert opinion) in a practical and theoretically valid manner? How does severity fitting using maximum likelihood estimation (MLE) compare to frequency and severity fitting under the ALEC fitting method?
 
OpRisk Modeler
The OpRisk Modeler is the industry’s most advanced tool for modeling operational risk. It allows a user to model operational risk under a loss distributions approach and/or a "scenario" approach. The tool offers a comprehensive set of features including loss scaling and severity fitting through MLE. It also supports advanced graphical analysis. The OpRisk Modeler is unique in many ways. It is the only operational risk modeling tool that offers functionality to simultaneously fit frequency and severity through the ALEC method. It is also perhaps the only such tool that allows the user to combine information from internal, external and scenario data in an objective, transparent and theoretically valid manner. The OpRisk Modeler also includes an ultra-high speed Monte Carlo simulation engine which allows users to calculate Value at Risk (VaR) and Conditional Tail Expectation (Tail VaR) under different correlation assumptions, with or without insurance.
 
 

 

 

 

 

 

 

 


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