Milliman releases new versions of systems for P&C insurers

Global consulting and actuarial firm Milliman has released version 2020b of its Arius reserve analysis systems for property and casualty insurers. The update provides significant enhancements to the products’ analytical capabilities and additions to their reporting and data-management tools.
The release adds new generalized linear modeling (GLM) capabilities that allow actuaries to better model and understand claim costs. GLM tools are especially useful when analyzing periods of inflationary pressure on the claims process or significant changes in claims handling within a company or throughout the industry, Milliman said.