Ultimate Risk Solutions Introduces New Edition of Risk Explorer for Smaller Companies
NEW YORK, NY–(Marketwire – October 11, 2010) – Ultimate Risk Solutions, a global provider of risk modeling software to the property/casualty insurance and reinsurance industry, is introducing a new product, Risk Explorer Express™, to meet the needs of small and mid size insurers and reinsurers, Alex Bushel, CEO, announced.
The Express Edition incorporates many features of Risk Explorer™, the Dynamic Financial Analysis tool used by some of the world's largest insurers and reinsurers, but with a simplified set of features tailored to the specific needs of small and mid size insurers, Captives, Managing General Agencies, and their advisors.
"We listened to prospective users of internal capital models and learned that there is strong demand on the part of many smaller and regional companies for a cost-effective model as they develop Enterprise Risk Management Programs to meet rating agency and regulatory standards," Bushel said. "However, these users do not require the extensive functionality needed for large companies that require far more complex models," he explained.
Risk Explorer Express™ provides the small and middle market companies an affordable tool for portfolio modeling, regulatory compliance, reinsurance analysis, economic capital estimation and allocation, financial statement modeling, and projections, among other features.
"The Express Edition is an effective tool for middle market companies to comply with Solvency II requirements; it can be used in conjunction with a company's chosen consultants, who can also license the software," Bushel pointed out."Unlike other offerings in this area that are greatly reduced versions of a large platform or 'audit only' versions, Risk Explorer Express™ is a fully specified, integrated asset liability modeling platform designed specifically for our target market of smaller and mid size companies," he reported.
Risk Explorer Express will be launched October 14 at the GIRO conference — the annual gathering of the UK insurance actuarial community — at the Celtic Manor Resort, Newport, Wales.