Conning Announces Upgrade and Enhancements to Its Financial Modeling Platform
26.10.2011 10:00:55 CEST | Business Wire | Press release
Releases Versions 5.5 of GEMS ® and ADVISE ®
Conning, a leading global provider of asset management services, risk and capital management solutions, and research to the insurance industry, today announced several enhancements in the latest release of its ADVISE® 5.5 Advanced Stochastic Modeling Platform and GEMS® 5.5 Economic Scenario Generator (ESG). Earlier this month Conning was recognized for the sophistication of its modeling platform when it was named Best Economic Scenario Generation (ESG) Software provider in Life & Pension Risk magazine’s 2011 awards.
With new features and usability enhancements to help clients better assess the impact of new reforms and emerging regulatory standards, the key enhancements to the platform include a Solvency II balance sheet module, an additional simplified US Tax model, some extensions to Property & Casualty liability modeling features, rationalizations of the asset modeling capabilities, refinements to extend the support for risk-neutral simulations, the ability to control and stress-test individual sources of risk, and the ability to export Query Tool views to an Excel workbook.
“Many of these enhancements are designed to ensure our tools are easy to use and to meet the changing needs of the risk management and institutional financial community we serve,” said Stephen Sonlin, CFA, Managing Director, Conning. “Our clients are asking us to help them implement internal risk management processes and respond to emerging regulatory guidelines such as Solvency II in Europe as well increased rating agency scrutiny here in the US. These latest enhancements address those needs.”
Highlights of enhancements include:
- Solvency II Balance Sheet Module meets current (QIS5) technical specifications and allows for potential future variations in the Solvency II valuation rules
- Simplified US Tax Model available as an alternative to the existing detailed US tax model
- Portfolios and Asset Classes are now more intuitive to define and use, replacing the former concept of Portfolio Groups
- Property & Casualty Module is enhanced with the choice of a simplified reserving model; the addition of Policyholder Dividends as new expense category; and a more intuitive way to specify inflation-sensitivity of prices and expenses
- Life Insurance Dynamic Transformation Model has been expanded to work with all supported Life accounting standards (IFRS, US GAAP, Economic, HGB Life, and US Statutory Life)
- Risk-Neutral capabilities have been enhanced to provide for multi-economy simulations, and an improved discretization scheme for stochastic processes to better satisfy the risk neutrality test
- Enhanced Control Over Random Draws to provide the ability to stress test individual sources of risk
- Export Query Tool Views to Excel 2007 or 2010 workbook, including all non-graphic views and most graphic views
- Service Installation Enhancements that prompt the user for elevation if administrative rights are insufficient
About Conning
Conning (www.conning.com ) is a leading asset manager for the insurance industry, with almost $77 billion in assets under management through its Hartford and Dublin investment centers as of September 30, 2011. For more than 25 years, Conning has built its asset management business to meet the investment and financial needs of insurers. The Company’s unique combination of asset management, risk and capital management solutions and insurance research helps clients achieve their financial goals through the implementation of customized business and investment strategies. Founded in 1912, Conning is headquartered in Hartford, Connecticut, with additional offices in New York, London, Dublin, and Cologne. GEMS® and ADVISE® are registered trademarks of Conning Services (Ireland) Limited.
Contact:
Stanton Public Relations & Marketing
Nicky McHugh
+1
646-502-3532 (direct dial)
+1 646-280-9283 (cell)
conningteam@stantonprm.com
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