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Risk Explorer — The DFA Designed for ERM (Enterprise Risk Management)

Enterprise Risk Management (ERM) is defined by the Casualty Actuarial Society to include “the methods and processes used by organizations to manage risks and seize opportunities related to the achievement of their objectives.” Rating agencies today expect insurance and reinsurance companies to have holistic ERM programs that take into account all the risks a company faces.

A good Dynamic Financial Analysis (DFA) model can answer the most essential questions related to Enterprise Risk Management (ERM):

  • What amount of capital does a company need to cover its risks?
  • What is the best strategy to maximize profitability while properly managing risk?

Clearly, an ERM program would not be effective without a solid DFA model.

Risk ExplorerRisk Explorer™, the DFA software by Ultimate Risk Solutions, is an ideal platform for building models that quantify and report on the risks identified in ERM. With Risk Explorer™ you have full financial statements, reinsurance structures, an infinitely flexible array of dependency structures, and a full economic scenario generator right out of the box. Your analysts will not spend time learning a new programming language or linking various items together. They will have time to focus on the heart of the issue: design, assumptions, and validation of outputs. In Risk Explorer™ you can simultaneously analyze alternative business strategies and produce statistical reports comparing sources of risks across those strategies.

Contact us today for a demonstration showing how companies are using Risk Explorer™ to quantify risks and make decisions.