Enterprise Risk Management Technology Guide 2023

Milliman - Milliman Mind

Type of System

  • Analytics
  • Asset/liability management
  • Capital modelling
  • Catastrophe modelling
  • End-to-end ERM
  • Governance, risk, compliance (GRC)
  • IFRS 17 solution
  • Internal/external reporting
  • LDTI solution
  • Operational risk management
  • Portfolio analysis/hedging
  • Reserving solution
  • Risk management
  • Solvency II solution
  • Spreadsheet risk management
  • Stress and scenario testing
  • Stress testing

Type of platform

  • Cloud
  • SaaS
  • Web-based

Other features - does your offering facilitate

  • Curve-fitting
  • IFRS 17
  • LDTI
  • NAIC Principle-based reserving
  • Replicating portfolios
  • Solvency II internal model
  • Solvency II standard formula

What are the typical implementation costs?

There are no implementation costs as Milliman Mind is a cloud-based SaaS, and is so easy to use that onboarding is a single half-day session.

How long does your software take to implement on site?

The solution is entirely cloud-based and requires no on-site implementation.

Please name companies that use the system/solution

Undisclosed (includes main worldwide insurers, reinsurers, and bankinsurers in Europe, the USA, and Asia-Pacific).

Most recent significant update:

Milliman Mind® is now also available within the Milliman Integrate® suite.

Planned future enhancements:

  • Decreased memory usage
  • Faster runs
  • Spread calculations more easily in a calculation grid (grid computing)

How does your solution integrate with third-party systems or in-house systems?

Already available as a part of Integrate®, Milliman Mind® can integrate with any third-party or in-house systems owing to its REST API.

What is the key attribute of your product(s) that differentiates it from your competitors?

Milliman Mind is the only actuarial no-code solution in the market which automatically builds an interface-enhancing dashboard and workflows and enables building applets for distribution within the company.

What trends are you seeing in terms of customer demand?

Customers demand more and more simplicity, as well as a full audit trail, to reduce the risks of errors to the greatest degree possible.


Milliman Mind is the premier actuarial no-code solution, enabling actuaries to gain up to 10* productivity compared to coding directly in IT languages. Uniquely powerful in reducing the risk of errors in models, enhances a complete audit trail, and all with an easy-to-use workflow.


Pierre Miehe

Tel: +33 4 81 49 10 69

[email protected]