Includes a range of standard library modules for applications such as capital allocation, claims modelling, reserving and operational risk
EMB, a consulting firm specialising in property and casualty (P&C) insurance, has released EMB Igloo 4.0, a new, simplified compact edition for companies who want to start capital modelling in a small way but may need to expand models later.
Igloo Compact Edition (ICE) is aimed at companies looking to initiate a capital model or to take the first step up from spreadsheet-based systems to a fully integrated model. It includes a range of standard library modules for applications such as capital allocation, claims modelling, reserving, operational risk, and financial reporting tailored to an individual company’s needs, claims the company.
Andrzej Czernuszewicz, EMB Partner, said: “ICE enables organizations to very quickly see how decisions impact on wider business risk with the assurance that they can seamlessly upgrade to other versions in the Igloo suite as their modeling requirements grow. We want to make sure that companies get their model structures right the first time, particularly if they’re using them to prepare regulatory submissions.”
The other versions in the new suite are EMB Igloo Extreme and EMB Igloo Enterprise. The Extreme edition, including the standard library modules, offers full model parameterization and the flexibility to create additional libraries. The Enterprise edition is a distributed, networked solution that can be integrated with the Internet as well as database and document management systems, the company said.