Conning - ADVISE® Enterprise Risk Modeler
Type of System
- Capital modelling
- Catastrophe modelling
- Economic capital aggregation
- Economic / risk scenario generator
- Exposure management
- Operational risk management
- Risk management
- Stress testing
- Asset/liability management
- End-to-end ERM
- Solvency II solution
- Internal/external reporting
- Portfolio analysis/hedging
- Strategic Asset Allocation
Type of platform
Other features - the offering facilitates:
- Least-squares Monte Carlo
- Replicating portfolios
- NAIC RMORSA
- NAIC Principle-based reserving
- Solvency II standard formula
- Solvency II internal model
- IFRS 17
What are the typical implementation costs?
The annual subscription fee depends upon the required software features, the number of users, and the range of economies to be modelled.
How long does your software take to implement on site?
The software can be downloaded, installed, and licensed in less than an hour. Implementation time is dependent on client needs, with clients often able to start producing meaningful management reports within a couple of months.
Most recent significant update:
Release 7.2 of ADVISE® Enterprise Risk Modeler features an improved user interface, support for additional regulatory reporting out of the box, and enhancements to the cloud architecture, which allows simulations to be run at a speed that would be prohibitively expensive to achieve with a dedicated in-house system.
Planned future enhancements:
An agile approach provides regular releases of new features. There is a continued focus on risk-based capital, including improvements to the recalibration tools which allow the end-user to calibrate the tail distributions and correlations more accurately, as well as further integration of risk-based capital in the strategic asset allocation framework via the investment optimization tool.
Additional developments will extend the flexibility and reporting capability of the investment optimisation tool, supporting a blend of different risk/reward optimisation metrics and allowing users to customise the output and reports they create.
How does your solution integrate with third-party systems or in-house systems?
ADVISE® Enterprise Risk Modeler utilises the cutting-edge asset models from the GEMS® Economic Scenario Generator, while also seamlessly integrating with the investment optimisation tool for strategic asset allocation analysis.
These tools are all built in the same code base and provide a seamless experience with the ability for user to “switch on” the functionality they require instead of having to migrate their models to a different system.
The investment optimisation tool integrates with third-party ALM systems via a user-friendly data repository, allowing institutional investors to use their existing actuarial models to perform their portfolio optimisation.
What is the key attribute of your product(s) that differentiates it from your competitors?
ADVISE® Enterprise Risk Modeler combines liability and investment models with a sophisticated decision engine which can incorporate multiple management actions, providing a fully integrated ERM solution. The range of output available from this multi-year projection of company earnings, balance sheet, and solvency position across tens of thousands of stochastic scenarios is unique to ADVISE®.
Conning’s ADVISE® is a comprehensive financial simulation engine for optimizing decision-making across an entire company.