Deloitte Uses @RISK to Advise Clients on Risk-Heavy Insurance Partnerships

In This Issue
What’s New
» Deloitte Uses @RISK to
   Advise Clients on Risk-Heavy
   Insurance Partnerships

Palisade Risk Conferences
» Upcoming Cities: London,
   Frankfurt, São Paulo, Rome
   and New Orleans

» Presenters from Sinopec,
   China Minmetals and First
   Huida lead the Beijing
   Risk Conference

@RISK Modeling Tips
» Damage from Natural
   Disasters and Accidents

Upcoming Webcasts

In This Issue
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The 2014 Risk Conferences are "must attend" events for quantitative risk and decision analysis professionals. Join us for an intensive day of software training presented by Palisade trainers and consultants, and real-world case studies presented by industry experts.
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Risk analysis software using Monte Carlo simulation for Excel and Project

Visual decision analysis
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Advanced statistical analysis for spreadsheets

The Innovative Optimizer
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The DecisionTools Suite

Deloitte Uses @RISK to Advise Clients on Risk-Heavy Insurance Partnerships
The insurance business is inherently risky—so much so, that many companies in that sector are finding ways to side-step some of its trickiest aspects. This adds a layer of complexity that requires careful risk assessment and decision making for those who are ultimately liable when the claims do come in. Global consultancy Deloitte uses @RISK to help clients with some of these delicate choices.

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.

  » Read the full case study
  » Learn more about @RISK

Palisade Risk and Decision Analysis Conference - New Orleans

Don’t Miss Out: Palisade Risk & Decision Analysis Conferences Are Coming Up
Palisade’s annual Risk Conference is right around the corner, taking place on November 19th and 20th in the heart of the downtown New Orleans. As our headline event of the year, the annual Risk Conference features four tracks of informative sessions of case studies and software training, along with one-on-one expert sessions and of course, lots of time for networking and collaboration. Register now to attend.

2014 Palisade Conferences

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
» View the Schedule   » Register Now
Frankfurt: 9 October
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São Paulo:14 October
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Rome: 21 October
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Presenters from Sinopec, China Minmetals and First Huida lead the Beijing Risk Conference
On September 2nd, over 50 decision makers and software experts gathered at the five-star Regent Hotel to convene for Palisade's Regional Risk Conference in Beijing, China. Freeman Liu, General Manager for Asia in Palisade, who chaired the conference, reports that the event was a great success. "Many important clients came to this conference thanks to the fact that it’s such an attractive event—it provides an opportunity to learn from other leaders in their industries," he says. "Palisade was very happy to host presenters from Sinopec, China Minmetals, and First Huida." All three companies are leaders in their industries. Leading companies like China Investment Corp, the biggest state owned investment company, State Nuclear Power Engineering Company Limited(SNPEC) and Cummins, also attended the conference. Many decision makers traveled from other cities across China to attend this event which was described as "too good to miss" and "the most important annual gathering of risk management leaders from China".

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.

  » View the schedule and presenters of the Beijing Conference
     (in Chinese)


Product Spotlight
Damage from Natural Disasters
and Accidents

This model illustrates a projection of property damages and human costs from potential natural disasters over a 5-year period that might be assessed by an insurance company. It assumes that each disaster either occurs or doesn't occur in a given year with given probabilities. Then possible property damages and possible human costs are simulated. In each of these, assuming that a disaster occurs, the total damage or cost is composed of the random number of people affected and the damage or cost per person affected. The natural disasters referenced in this example include:

  • Spring Flood
  • Winter Storms
  • Tornados
  • Rail Accident
  • Highway Accident
  • Chlorine Spill

 » Download the example model and step-by-step instructions


Introduction to Risk and Decision Analysis using
@RISK and the DecisionTools Suite

Presented by: Palisade
   02 Oct. - 11am CEST-Central Europe (5am EDT)   » Register Now
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Optimisation with RISKOptimizer —
Decision Making Under Uncertainty

Presented by: Rishi Prabhakar, Palisade
   03 Oct. - 12noon AEST-Australia (4am CEST)   » Register Now

Pricing and Managing the Liquidity Requirements of the Futures Portfolio for a Gas Distributor
Presented by: Vladimir Antikarov, Verea Group LLC
   16 Oct. - 11am EDT-Eastern US(5pm CEST)   » Register Now

Business Forecasting and Simulation using @RISK and the DecisionTools Suite - Part 3 of 3
Presented by: Glen Justis, Experience on Demand
   29 Oct. - 11am EDT-Eastern US(5pm CEST)   » Register Now

Portuguese - Português
Análise Quantitativa de Risco Utilizando o @RISK e o DecisionTools Suite
Presented by: Renato Limão, Palisade
   07 Nov. - 10am BRST-Brazil (1pm CET)   » Register Now

French - Français
Introduction a l’analyse des Risques et décisions
avec @RISK et DécisionTools Suite

Presented by: Manuel Carmona, Palisade
   07 Oct. - 11am CEST-Central Europe (5am EDT)   » Register Now

German - Deutsch
Einführung zur Risiko- & Entscheidungsanalyse
mit @RISK und der DecisionTools Suite

Presented by: Sascha Stange, Palisade
   21. Oktober - 11am CEST (5am EDT)   » Register Now

Japanese - 日本語
Presented by: Mikiko Sawada, Hitachi Solutions East Japan, Ltd.
   26 Sept. - 10am JST-Japan (11am AEST)   » Register Now

» See complete Webcast schedule


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