In response to the growing need of life and non-life insurers for a comprehensive suite of Solvency II solutions, Moodys Analytics, a leading provider of enterprise risk management solutions, has today announced that it is working with Barrie & Hibbert to provide Moodys Analytics Solvency II customers seamless access to Barrie & Hibberts award-winning economic scenarios.
Collaboration between the two companies will enable Barrie & Hibberts economic scenarios to be loaded directly from its Economic Scenario Generator (ESG) into Moodys Analytics Solvency II platform. This will allow clients to run automated solutions, including nested stochastic scenarios leading to faster delivery and more accurate management information.
Andy Frepp, Chief Executive at Barrie & Hibbert, says: Our ESG integrated with Moodys Analytics Solvency II platform will provide more efficient risk aggregation compared to the variance-covariance which is often adopted as a first proxy for economic capital calculation. This agreement will offer insurance companies a market leading and robust solution on which to build their comprehensive ERM frameworks.
This integrated approach will benefit companies of all sizes helping them take a robust approach to the calculation and management of economic capital, and the associated risk exposures within a dedicated and integrated enterprise risk management (ERM) and scenario framework.
Geoff Fite, Chief Operating Officer, Moodys Analytics, says: There is a growing need among insurance companies for integrated solutions to meet the forthcoming regulations. Moodys Analytics strategy is to provide an open platform; integration with our own economic scenarios as well as Barrie & Hibberts award-winning solution demonstrates our commitment to this strategy and is great news for our clients.
D.C.