@RISK Modeling Tips
Deloitte Uses @RISK to Advise Clients on Risk-Heavy Insurance Partnerships
Cell captive insurance, a niche insurance industry growing in acceptance and use, allows other companies (i.e. the “cell owners”) to ‘piggyback’ onto the host insurer’s license, so that these businesses don’t have to deal with the prohibitive costs and regulations that come with buying their own licenses. In exchange, the cell owners perform functions for certain insurance products underwritten by the insurer. Cell captive insurers take on significant risk when entering into these types of arrangements. Not only is the insurer exposed to a range of operational risks, the insurer will also always remain liable for any valid claims related to policies written on its license, even if the insurer did not write the policies themselves. Experts at Deloitte risk management use @RISK to help cell captive insurance clients make informed choices around partnering with a cell owner.
“We help them perform a realistic assessment of what the risk is of partnering with a firm,” says Liran Blasbalg, an actuarial analyst at Deloitte South Africa.
Although Deloitte’s @RISK model and analysis are complicated, the results need to be clear when presented to decision-makers. Says Blasbalg: “@RISK also provides easy-to-interpret and useful summaries which would take time to prepare if done so without the software.” Deloitte has found @RISK to be a powerful tool for risk analysis around cell captive insurance, enabling them to advise clients in a risky and complex field.
If you can’t make the New Orleans conference, or you’d like to attend other learning and networking opportunities, check out our other conferences around the globe—events will be held on October 7th in London; October 9th in Frankfurt; October 14th in Sao Paulo; and October 21st in Rome.
London: 7 October
Presenters from Sinopec, China Minmetals and First Huida lead the Beijing Risk Conference
There were two presentations from executives of China Petroleum & Chemical Corporation (Sinopec), one of the largest oil and gas companies in Asia and the world’s fifth biggest company by revenue. Feng Jin, International Business and Project Risk Manager, detailed how Sinopec uses @RISK, the DecisionTools Suite, and PrecisionTree for project management in engineering. Dr. Deng-wei Li, Senior Engineer in the Field Development and Production Department, discussed how he uses @RISK to analyze economic risks and options in handling Sinopec’s hundred-billion dollar investment portfolio.
Presenter Zuochun Wang represented China Minmetals, one of China’s largest mining companies, ranking 133 in Fortune 500 2014, with operations in China and around the globe. Wang discussed how Minmetals uses DecisonToolsSuite for decision making for investments and risk management. Jian Liu, Executive Director of Risk Management at First Huida, one of the biggest risk management consulting firms in China, spoke about how the business uses risk models to eliminate threats—detailing how these models helped the company to avoid $6 billion in losses. The conference further solidified Palisade’s influence in the Asian markets, particularly in the oil, gas, and mining industries.
Optimisation with RISKOptimizer —
Pricing and Managing the Liquidity Requirements of the Futures Portfolio for a Gas Distributor
Business Forecasting and Simulation using @RISK and the DecisionTools Suite - Part 3 of 3
Portuguese - Português
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