Reinsurance brokerage Guy Carpenter & Co. L.L.C. said on Monday that it has released the latest version of its risk reserve modeling tool MetaRisk Reserve.
Guy Carpenter said MetaRisk Reserve 3.0 is designed to integrate with the latest version of its capital management MetaRisk 7.2 and enable insurance companies to better quantify reserve risk and allocate capital more effectively. The company said the new version of MetaRisk Reserve accommodates for changes in reserve reporting resulting from Solvency II and also has predictive modeling capabilities that will enable insurers to improve enterprise risk management.
“MetaRisk Reserve 3.0 is the latest example of Guy Carpenter’s commitment to innovation and improvements in technology as insurance companies look for every competitive advantage in the increasingly complex global insurance environment,” Don Mango, vice chairman and head of enterprise analytics for Guy Carpenter, said in a statement.
The company notes that MetaRisk Reserve 3.0 was awarded a patent for its system for determining loss reserves which takes into account in-year trends such as inflation.