Global consulting and actuarial firm Milliman has announced the release of Milliman Agile ALM, a software package that makes asset/liability management (ALM) and stochastic valuation accessible to insurers, helping them comply with Solvency II, IFRS 17, and other requirements.
The firm states that, unlike traditional dynamic ALM models, Milliman Agile ALM uses a standalone asset projection model that can be linked to external liability software.
Milliman explains that rather than simulating assets interacting with liabilities, the technology runs separate asset and liability models in an iterative process that quickly arrives at a single solution.
It adds that by using the software, insurers can test different investment and product strategies, optimize management actions, project capital requirements, and even validate other ALM models, all without significant investment or retraining.
Grzegorz Darkiewicz-Moniuszko, senior consultant at Milliman, commented, “Our approach is unique because of our method for separating the asset model from the liability model.
“This separation is highly efficient as it allows us to take advantage of a client’s existing liability modelling and focus the validation directly on the ALM modelling and interactions.”
In other news, Milliman announced in August that it had opened a new office in Bermuda, stating that it will offer a “more formalized presence” on the island, and comes in response to increasing demand for insurance consulting and technology support.