Milliman Mind - Milliman

Type of System

  • Analytics
  • Asset/liability management
  • Capital modelling
  • Catastrophe modelling
  • Economic capital aggregation
  • Economic scenario generator
  • End-to-end ERM or Solvency II solution
  • Exposure management
  • Governance, risk, compliance
  • Internal/external reporting
  • Operational risk
  • Portfolio analysis/hedging
  • Risk Management
  • Reserving solution
  • Spreadsheet risk management
  • Stress testing
  • Pricing & Risk Calibration

Type of Platform

  • Cloud
  • Server-based
  • Web-based
  • SaaS

Most recent significant updates:

Version 1.0 has just been updated, including automated multi-dimensional projection enabling to get rid of Macros & imbricated goal seeks. A full API module enabling any integration has been released in August 2018.

Planned future enhancements:

Workflow management functionalities

Other Features

The offering facilitates

  • Curve-fitting
  • Least-squares Monte Carlo
  • Solvency II standard formula
  • Solvency II internal model
  • Replicating portfolios
  • IFRS 17
  • Principle-based reserving

Integration with third-party or in-house systems?

Excel and csv imports/exports or full integration through the API. Milliman Mind also enhances an advanced inputs management.

Implementation and Costs

Typical implementation costs:

There is no implementation as it is a cloud solution. ½ day training could be enough to be onboard, owing to the simplicity of use.

How long does your software take to implement on site?

As a cloud solution no implementation is required.

Key attributes of product:

Milliman Mind is not an Excel add-in: it is a professional cloud-based platform with enhanced governance and team work capabilities. It enables you to loop through over 20 dimensions (e.g. model points, scenarios etc.), removing the need for VBA code. Unlike other platforms, there is no need to learn a new language: models can be built in Excel and are converted to more powerful C# models when you upload them to Milliman Mind.

The dynamic platform facilitates review, and Milliman Mind’s outstanding governance features and easy export of models back into Excel enables stronger model risk management.

Please name companies that use the system/solution:

SHAM, AUL, New Re, Tony-Dis