Software & Tools

Actuarial problems in product development, corporate management, risk management and reserving are getting increasingly complex. Software solutions and actuarial tools help to solve these problems efficiently. Those are the actuaries' daily tools.

Meyerthole Siems Kohlruss (MSK) offers powerful software solutions and Excel™-based tools that have been developed over many years by experienced actuaries, computer scientists and practitioners. Clearly arranged interfaces in the familiar Office design enable intuitive operation in practice.

Meyerthole Siems Kohlruss’s (MSK’s) tools cover the following areas:

Pricing:

ARIANE
GeQuo

Corporate management / portfolio valuation:

OLAF
Geocoding

Risk management:

PORTo
OverLab
STORM CHASER
RAIN CHASER

Reservation:

LoReTo

Furthermore, Meyerthole Siems Kohlruss's (MSK’s) competencies include dealing with large numbers of data and structuring them so they can be processed appropriately in your systems.

You can benefit from our many years of experience in the market. Meyerthole Siems Kohlruss (MSK) will be happy to support you in the development of individual software solutions or tools. Please do not hesitate to contact us.

ARIANE

Software for pricing

Pricing for primary insurance has become more demanding. Target group profiles are changing dynamically, customers are increasingly willing to switch. Although the calculations remain complex, they must be carried out quickly and reliably. Meyerthole Siems Kohlruss (MSK) offers powerful software that is easy to use. This allows you to develop tariffs directly in their specialist departments – without time-consuming detours.

In several years of development work by actuaries and computer scientists, ARIANE was conceived and developed into a unique industry solution for the calculation of marketable tariffs. Now you can benefit from the experience and know-how that ARIANE combines.

ARIANE covers the entire pricing process: from data preparation and validation to significant analyses to the finished tariff – including cost parameters. It is not necessary to switch between different software tools.

Your benefit:

• Maximum control through integrated access to single record statistics
• Time saving through efficient data validation
• Customized import and export functions, e.g. for statistics of the German Insurance Association GDV
• Risk- and return-oriented tariff development
• Simple application of the latest actuarial methods
• GLM - smoothing the parameter estimates
• Regional clustering
• Numerous segment-specific calculation parameters are available to users for free rate modelling, such as external claims settlement costs, safety margins, future claims development, positive/negative selection, surcharge/discount for types of cover, variable and fixed costs.
• Discover attractive risk and sales potentials

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GeQuo

Tool for trade quotation

Meyerthole Siems Kohlruss (MSK) has developed GeQuo, a tool for the quotation of commercial risks (commercial buildings insurance, commercial contents insurance, business interruption and commercial liability insurance). A tool that is characterized by handiness and intuitive use.

In its functionality, GeQuo is comparable to PRS Fire, a web-based solution. However, GeQuo is installed locally for higher data confidentiality.

GeQuo is based on the current tariff recommendations of the German Insurance Association GDV. From this starting point it can easily be extended to meet company-specific requirements, for example through individual zoning models, integration of further tariff or discount features, underwriting guidelines or additional coverages. Meyerthole Siems Kohlruss (MSK) can also assist you with pricing.

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OLAF

Online Analytical Fluctuation Tool

All information about your portfolio in one place - at any time!

The insured portfolio of an insurance company is constantly changing. Contracts are terminated, new ones are concluded and new products are prepared. In addition to the development of premium and unit numbers, the risk selection for all products and segments must be kept in mind and compared with the goals. The "wrong" customers could quickly be brought into the portfolio.

Meyerthole Siems Kohlruss (MSK) has developed a tool that helps you to keep an overview. With OLAF (Online Analytical Fluctuation Tool) you receive daily information on your portfolio development. In addition, further information can be processed: risk models developed by Meyerthole Siems Kohlruss (MSK) evaluate new business with expected loss ratios or show the contracts that have a high lapse probability. Storm estimates, socio-demographic data and data from other external sources can also be integrated.

OLAF accesses your inventory management system directly and condenses the data so that fast and uncomplicated use is possible even without specific data knowledge. In addition to ready-made analyses, you can analyze your inventory yourself on a daily basis and make the right decisions.

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Geocoding

The desire to measure the world has occupied people since ancient times. Today it is more topical than ever - also for the insurance industry. How far away is a property from the nearest river, thus exposed to flooding? Are many properties in a portfolio in close proximity to each other, thus posing a large accumulation risk? In the context of Solvency II, precisely this question is relevant in relation to fire. How far is the nearest broker office from a policyholder? Is my distribution network sufficient?

The exact address of an object is usually known to the insurer, but in many cases no geo-coordinates are available. But even the addresses are not always free of errors - typing errors, missing or outdated information make a systematic analysis difficult.

For this purpose, Meyerthole Siems Kohlruss (MSK) has developed a geocoding tool that uses intelligent algorithms to cleanse and normalize the address data, that determines the corresponding geocoordinates to your inventory and thus enables you to analyze the inventory more precisely and take a new perspective.

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STORM CHASER

New transparency through data-based storm models

The analysis of possible loss scenarios from natural disasters is one of the central tasks of risk management for a property and casualty insurer. With STORM CHASER, Meyerthole Siems Kohlruss (MSK) has developed a transparent and innovative storm model.

For the first time, storm event sets are generated from the wind history by means of "Polynomial Chaos Expansion" - an innovation that differs markedly from the common storm models. While these are based on extensive meteorological assumptions, the algorithms of STORM CHASER are transparent and comprehensible.

In addition to a timely loss estimation of current storms, the loss of storm events of defined return periods can be forecast. STORM CHASER is also a helpful tool for assessing stress scenarios in the context of reinsurance valuation and the company's own risk and solvency assessment (ORSA). STORM CHASER can also be implemented as part of the pricing software ARIANE. STORM CHASER is employed in Meyerthole Siems Kohlruss (MSK)'s estimations of losses due to storms (cf. for instance "Sabine" and "Friederike").

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Rain Chaser

Address specific evaluation through geophysical modeling

Analysing heavy rain events poses major challenges for the risk management of insurers, as heavy rain events generally occur regionally and are frequently the first of their kind in the respective region.

Using the RAIN CHASER developed by Meyerthole Siems Kohlruss (MSK), heavy rain risks can be reliably simulated using purely geophysical runoff models based on the surrounding topology. The simulation categorises risks into four zones as part of MSK's address-specific heavy rain zoning, which simulates their vulnerability in the case of a heavy rainfall event.

RAIN CHASER enables the highly precise evaluation and assessment of heavy rain risks such as "Bernd". This even applies to areas in which no heavy rainfall events have been recorded to date. RAIN CHASER also provides stability in zoning, as the model is not based on historical claims or rain events and therefore does not fluctuate when new events occur. The tool not only enables the precise assessment and management of heavy rain accumulations in the company's own portfolio and positive selection in pricing, but also generates significant added value for the ORSA under Solvency II and in reinsurance analyses.

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PORTo

Proportional ORSA Tool

Within the framework of the process for the company's own risk and solvency assessment (ORSA), insurance companies must ensure the permanent coverage of the regulatory capital requirement for their planning period.

With the PORTo tool (Proportional ORSA Tool), Meyerthole Siems Kohlruss (MSK) offers an integrated solution for comprehensible and documented fulfilment of this requirement. For this purpose, PORTo projects the profit and loss account within the framework of medium-term planning for a future period of three to five years. Based on historical calculations for the standard formula according to Solvency II, the regulatory capital requirements as well as the solvency overview, own funds and the corresponding coverage ratios are mapped for the projection period.

The required input parameters are automatically fed in via existing interfaces to standard reporting tools. This means that PORTo can be integrated into internal company processes within a short period of time and can be used in a meaningful way in a timely manner.

In addition, projections in connection with the development of the overall solvency requirement can be presented in PORTo. These projections also play an important role in the context of ORSA.

Flexible calibration turns PORTo into a platform for analyzing any stress scenarios. These can be generated at the push of a button. In a short time, an almost unlimited number of stress scenarios can be run through.

The automatic processing of the results in an additional individually designed module rounds off the offer. The main projection results from the basic scenario and various stress scenarios can be processed in the corporate design for presentations and internal and external reports.

In addition to its use in the ORSA process, PORTo can also be used for quantitative calculations as part of line of business approvals with the supervisory authority or obtaining an insurance licence for start-ups.

Another field of application is the analysis of reinsurance structures. The interaction of the results with the balance sheet effects according to the German Commercial Code (HGB) as well as with the effects on risk capital and own funds according to Solvency II is of essential importance in the analysis of the effects of reinsurance.

Furthermore, PORTo can be used in the implementation of the requirements of the Corporate Sustainability Reporting Directive (CSRD), particularly ESRS E1-9, as well as the requirements of the Insurance Recovery and Resolution Directive (IRRD). Thus, PORTo offers a comprehensive solution for the diverse requirements of the insurance industry, including regulatory and sustainability-related challenges.

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LoReTo

Loss Reserving Tool for the valuation of loss reserves

The valuation of loss reserves is one of the core tasks of actuaries. Solvency II has further increased the importance and complexity of reserve valuation.

With the LoReTo (Loss Reserving Tool), Meyerthole Siems Kohlruss (MSK) offers insurers the analysis and valuation of their own loss reserves via a proportional software approach. The completely Excel™-based system convinces with intuitive operation and high transparency in the analysis of reserve quality. At the same time, the scope of functionality takes into account the requirements of the Solvency II supervisory regime.

Your benefit:

• Intuitive operation and process-oriented structure
• Parallel analysis of payment and effort triangles
• Valuation of the reserve quality with modern actuarial methods (chain ladder, additive chain ladder or method of loss ratio increases independent of the year of occurrence, Bornhuetter-Ferguson, Cape Cod).
• Flexible lag modelling for long-tail divisions via a regression procedure (exponential, Weibull, power, inverse power)
• Stochastic reservation via a distribution approach (via Mack standard error)
• Determination of discounted expected value provisions and future cash flows in accordance with the regulatory requirements of Solvency II
• Comment options on the data basis and selected methods
• Summarized presentation of input and output variables on a spreadsheet incl. validation and backtesting valuations
• Calculation of company-specific parameters (USP) for premium and reserve risk under Solvency II according to the lognormal method and the Merz-Wüthrich method

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OverLab

Calculating with fire under Solvency II

The assessment of fire risk has gained importance under the European supervisory regime Solvency II. With OverLab, Meyerthole Siems Kohlruss (MSK) has developed an intelligent method for determining the largest fire risk concentrations, which non-life insurers can use flexibly and in a risk-appropriate manner in risk management.

According to the standard formula under Solvency II, the capital requirement for fire risk is defined by the insurance sum of the largest fire risk concentration after reinsurance. The exposure is the group of buildings with the highest cumulative insurance sum (taking into account reinsurance) in which the buildings are wholly or partly within a radius of 200 metres.

Radii other than 200 metres may also be of interest for the company's own risk and solvency assessment (ORSA). In the ORSA, deviations from the standard model as well as stress scenarios must be justified and analyzed among other things. Apart from varying radii, not only the building group with the highest fire risk concentration can be of interest, but also the building group with the second highest, third highest etc. risk exposure.

How can these groups of buildings and their exposures be determined efficiently? Meyerthole Siems Kohlruss (MSK) has solved the challenge with OverLab.

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Individual Development

Customized software solutions

With its background of many years of industry knowledge and a distinctive IT competence, Meyerthole Siems Kohlruss (MSK) also offers customized and future-proof customer solutions. In partnership with the customer, the exact needs are analyzed and individual solutions are designed and implemented together. The company attaches great importance to finding and maintaining the not always easy balance between functionality and financial expenditure.

The service provided by Meyerthole Siems Kohlruss (MSK) ranges from a joint conception and creation of corresponding designs and prototypes to the introduction of the software. This includes careful analysis of the drafts, programming itself and also the implementation of software and user tests. It is supplemented by appropriate documentation to ensure the quality requirements of Meyerthole Siems Kohlruss (MSK). Once you have been introduced to your new software, competent contact persons are available for maintenance and potential further developments.

Meyerthole Siems Kohlruss (MSK) is proficient in the implementation of various programming languages commonly used in the market, so that the most efficient and suitable solution can be implemented in each case, depending on the customer's needs.

Examples of customized solutions:

• Quotation of reinsurance contracts
• Accounting of reinsurance contracts
• Projection tools for P&L and balance sheet
• Underwriting in actuarial insurance
• Product controlling in non-life insurance

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