The headline kind of says it all, doesn’t it? But what we are noting is that the insurtech sector – focused on reaching consumers and businesses through new and innovative online insurance models, such as Lemonade, which we’ve covered in the past, is now evolving further into the industry side via new re-insurance fintechs, or “re-insurtechs” as we have coined. The fintech category is evolutionary and we should expect to continue to see more versions of these in 2018 and beyond.
“International consulting and actuarial firm, Milliman, Inc., has announced the release of advanced analytics software for loss reserving for the insurance and reinsurance sector, called Arius® Enterprise.
The new cloud-based InsurTech solution enables processes to be streamlined and improves the efficiency for actuarial reserving departments.
The new solution is part of the company’s Arius family of solutions, relying on the Arius software to provide the analysis and modelling tools that sophisticated actuarial departments of today have come to depend on, in order to keep their business ahead of the competition.
Ken Scalf, Milliman’s product leader of property and casualty reserving software, said; “As the insurance industry faces disruption from evolving technology, our goal is to provide a cloud-based solution that will streamline companies’ reserving processes and create much needed efficiencies.
“With Arius Enterprise, we have an InsurTech system that provides consistency, reliability, and control, so that actuaries can focus their time where it’s most needed.”…
Full story at Reinsurance.ws