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Milliman's Arius introduces new formula capabilities and expanded reporting tools with latest reserving software release

SEATTLE, Dec. 5, 2022 /PRNewswire/ -- Milliman, Inc., a premier global consulting and actuarial firm, announced today that it has released the latest version of its Arius® insurtech software solutions, a family of state-of-the-art reserve analysis systems for property and casualty insurers and large self-insureds. The new release provides significant enhancements to the systems' analytical and reporting capabilities.

The new release provides significant enhancements to the systems' analytical and reporting capabilities.

This update includes tools to help actuaries and insurance analysts more easily locate and take advantage of exhibits and reports in the system's large collection of analytical tools; improves the flexibility when performing actual vs. expected analyses; and expands exhibits to help address additional IFRS-17 reporting requirements. The release also provides users of Milliman's larger Arius Enterprise® system with easy access to additional data for use in analytics, reporting, and Drivers of Change analyses.

Ken Scalf, a Milliman principal and Arius product manager, said, "Our clients are always looking for new and better ways to see what's going on in their data, to understand what's driving the changes, and to explain their thoughts and findings to other senior business leaders.  This release provides a number of new capabilities to help P&C actuaries automate and work through their analyses more efficiently so they can focus on the areas where their substantial expertise can provide the most value to their organization."

About the Arius family of solutions
The Arius solution set includes Arius Deterministic, Arius Stochastic, Triangles on Demand®, and Arius Enterprise. Arius Deterministic and Stochastic are self-contained insurance reserve analysis systems that eliminate the potential spreadsheet risk inherent in tools developed in-house by many actuarial teams. Triangles on Demand (ToD) uses the latest cloud technology to instantly aggregate millions of records of loss and claims data on the fly for review in Arius. Designed specifically for large insurance carriers and self-insureds, Arius Enterprise combines the Arius analysis system and ToD with sophisticated Microsoft Azure-based 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.

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SOURCE Milliman, Inc.