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Accelerate economic scenario generation using the cloud and gain access to the highest-quality data.
Milliman Cloud Hosted Economic Scenario Simulator (CHESS)
To match demanding timelines for risk-management decisions and regulatory compliance, you need to scale and automate the ESG production process. At the same time, you need results you can trust.
Execute the calibration, simulation, and validation functionalities from any vendor or in-house system through the integration-ready Milliman CHESS RESTful API.
Receive expert advice to ensure you use the best model to achieve your goals for optimal efficiency, risk management accuracy, and regulatory compliance.
Review audit features, model documentation, and Excel files that detail step-by-step derivations of economic scenarios. CHESS calibration reports are based on alliance partnerships with the most renowned financial data providers and are subject to thorough data quality assessments.
Leverage Milliman’s comprehensive model catalog as you work with our team to determine which models apply to your specific scenarios.
See validation results quickly in the form of tables and graphs.
Navigate any external or internal review of CHESS scenarios with assistance from Milliman consultants.
Access Milliman CHESS services deployed in Europe, the UK, U.S., and Asia. Methodologies and data choices from the most renowned data providers have been tailored to reflect the highest degree of robustness and compliance in each market, including Solvency II, IFRS 17 and LDTI.
Use advanced and custom parameters for model selection, data loading, calibration, and simulation steps.
Enable ESG experts and risk managers to exhaustively validate model performance using visualizations and data.
Many insurance companies are struggling to overcome the computational challenges involved in computing the SCR under the Solvency II regime.
This paper explores options available to address the challenge of deriving market-consistent but stable long-term volatility assumptions for valuation of liabilities.
Challenges for companies in the alternative asset space include building an internal model and accounting for regulatory treatment for capital set aside.
The best 'one-size-fits-all' economic scenario generator solution is one that provides the choice of different methods.
Least Squares Monte Carlo (LSMC) is a widely used proxy modelling technique in the European insurance industry.
The European Insurance and Occupational Pensions Authority (EIOPA) in 2019 published a study on market and credit risk modelling, observing that the equity risk shocks applied by the surveyed internal models are overall…
The principles-based approach under International Financial Reporting Standard 17 (IFRS 17) is both a blessing and a curse.
In the landscape of Solvency II internal models, market and credit are significant risk drivers of the Solvency Capital Requirement.
This report details the use of cloud computing and machine learning in the actuarial profession.
Automate and accelerate actuarial modelling and reporting with a powerful, cloud-based solution.
Milliman Mind is a flexible and easy-to-use web-based platform which automatically converts Excel spreadsheets into more powerful models.
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