Milliman's Arius named "Best reserving solution" in 2017 InsuranceERM Awards

SEATTLE, Jan. 17, 2018 /PRNewswire/ -- Milliman, Inc., a premier global consulting and actuarial firm, today announced that Arius^®, Milliman's advanced analytics loss reserving software for insurers and reinsurers, was named "Best reserving solution" in the 2017 InsuranceERM awards. Senior industry experts from across Europe and the U.K. served as judges for the award.

The recognition comes as Milliman launches Arius 3.0, which provides significant enhancements to the software's automation capabilities, together with key additions to its reporting tools. This is the thirteenth major release of new functionality since Arius' introduction four years ago.

"Our goal with Arius is to provide an InsurTech solution that will increase efficiency and streamline insurance companies' reserving processes," said Ken Scalf, Property & Casualty Software Products Manager at Milliman, "and we're thrilled it's being recognized as 'Best reserving solution' by InsuranceERM. Arius provides much-needed reliability and efficiency in this era of increased industry disruption."

In addition to the industry's leading desktop loss analysis toolset, Arius 3.0 debuts as the centerpiece of Milliman's just-released Arius Enterprise solution.  The new Enterprise system provides reserving departments with cloud-based centralized data, department-wide project management, automation, governance tools, and sophisticated reporting and data visualization. Arius Enterprise, which runs on the Microsoft Azure platform, specifically addresses the challenges faced by mid-to-large sized insurance companies.

About the Arius family of solutions
Arius Deterministic and Stochastic are self-contained reserve analysis systems that eliminate the potential spreadsheet risk inherent in tools developed in-house by most insurance actuarial teams.  Triangles on Demand (ToD) uses the latest cloud technology to instantly aggregate millions of records of loss and claim data on the fly for analysis in Arius.  Arius Enterprise combines the Arius analysis system and ToD with sophisticated project, user, and reporting management solutions to address the added efficiency and reliability requirements of sophisticated reserving departments. More information about the Arius suite of solutions is available at www.actuarialsoftware.com.

About Milliman
Milliman is among the world's largest providers of actuarial and related products and services. The firm has consulting practices in healthcare, property & casualty insurance, life insurance and financial services, and employee benefits. Founded in 1947, Milliman is an independent firm with offices in major cities around the globe.  For further information, visit milliman.com.

SOURCE Milliman, Inc.