Risk Explorer Express Edition™
Risk Explorer Express™ is a Dynamic Financial Analysis software solution created to address the modelling needs of smaller insurance and reinsurance companies. Like all products from URS, the Express Edition of Risk Explorer is also available to Brokers, Intermediaries and Consultants.
The Express Edition incorporates many features of Risk Explorer™, the Dynamic Financial Analysis tool used by some of the world's leading insurers, reinsurers and brokers, but with a simplified set of features tailored to the specific needs of smaller undertakings.
Hence Companies with less resources and staff can still develop complete models of their businesses using a fully integrated Asset Liability modelling application.
Integrated Solution - Not a Tool Kit
Risk Explorer Express™ is not a programming environment or 'tool box' where you have to painstakingly connect together all the various component of your model and maintain this over time. Instead, all the standard financial statements such as
- Underwriting Profit & Loss Accounts;
- Balance Sheets & Income Statements; and
- Cash flow statements
Risk Explorer Express™ retains the Economic Environment module as deployed within Risk Explorer™ and therefore enables users to use Economic Scenarios provided by Predictable Dynamics or indeed other ESG output providers. The creation of a fully integrated asset liability model where changes in an economic index or driver can affect the quantum or timing of a liability cash flow is now within the reach of smaller (re)insurance undertakings.
Risk Explorer Express™ allows the output from Catastrophe event files (RMS, AIR and EQECAT) to be included in the aggregate modelling of a company and also allows the user to assess the effects of different possible reinsurance structures on a gross portfolio. Other Property &Casualty specific features of a business are handled such as ALAE and ULAE. Similarly, modelling Accident years as opposed to Underwriting years is possible.
Solvency II Compliant
Smaller insurance and reinsurance companies may consider that under a Solvency II regime, a fully deployed internal model may be too costly and complicated to consider implementing. With Risk Explorer Express™, these fears are easily allayed. Risk Explorer Express™ has been created with a feature set that will ensure that the models will become part of the day to day risk management and business planning processes within an underwriting organisation.
Available to Consultants and Advisors
Additionally, Risk Explorer Express™ is available to Consultants and Advisors on a flexible short term licensing basis where a Client requires their Advisors to have full access to their models. Unlike other offerings where only a limited or restricted 'audit only' version of a product is provided, the full working version of Risk Explorer Express™ can be licensed by a Consultant or Advisor thus enabling the Client to benefit from having the assistance of their regular and familiar Consultant.
Models developed in Risk Explorer Express™ can be transferred to Risk Explorer™ as required without any additional effort.