ECONOMIC MODELING
Milliman Economic Scenario Generator
Formerly known as Milliman CHESS, our award-winning solution delivers a distinctive combination of production efficiency and expertise support, along with state-of-the-art modelling catalog and high-quality data for both market-consistent and real-world applications.
Reliable, quick validation is imperative
To match demanding timelines for risk-management decisions and regulatory compliance, you need to scale and automate the ESG production process. At the same time, you need results you can trust.
Benefit from best-in-class ESG software and service
Achieve a high level of automation and scalability by integrating the Milliman Economic Scenario Generator into your existing systems. The cloud-based application delivers economic scenarios in a scalable environment, with easy-to-understand visualizations for rapid validation. The Milliman Economic Scenario Generator was named Best ESG Software by Insurance ERM.
Benefits of the Milliman Economic Scenario Generator
Take advantage of the cloud
Execute the calibration, simulation, and validation functionalities from any vendor or in-house system through the integration-ready RESTful API of the Milliman Economic Scenario Generator.
Rely on best-in-class industry experience
Receive expert advice to ensure you use the best model to achieve your goals for optimal efficiency, risk-management accuracy, and regulatory compliance.
Gain trustworthy results
Review audit features, model documentation, and Excel files that detail step-by-step derivations of economic scenarios. The Milliman Economic Scenario Generator’s calibration reports are based on alliance partnerships with the most renowned financial data providers and are subject to thorough data quality assessments.
Features of the Milliman Economic Scenario Generator
Broad set of models to choose from
Leverage Milliman’s comprehensive model catalog as you work with our team to determine which models apply to your specific scenarios.
Visual synthesis
See validation results quickly in the form of tables and graphs.
Available support
Get help from Milliman consultants as you navigate any external or internal review of results generated by the Milliman Economic Scenario Generator.
Global reach
Access services from the Milliman Economic Scenario Generator deployed in Europe, the United Kingdom, United States, and Asia. Methodologies and data choices from the most renowned data providers have been tailored to reflect the highest degree of robustness and compliance in each market, including Solvency II, IFRS 17, and LDTI.
Advanced control on ESG configuration & validation is made easy — for better accuracy and compliance.
Customization
Use advanced and custom parameters for model selection, data loading, calibration, and simulation steps.
Validation
Enable ESG experts and risk managers to exhaustively validate model performance using visualizations and data.
See how the Milliman Economic Scenario Generator is helping businesses globally
Frequently Asked Questions
What are the key differentiators of Milliman Economic Scenario Generator?
Milliman Economic Scenario Generator stands out for its award-winning, user-friendly software, customizable scenario modeling, and seamless integration features. It also offers continuous support, training, and updates to enable compliance with changing regulatory standards.
How does Milliman Economic Scenario Generator support current economic and regulatory needs?
Milliman Economic Scenario Generator ensures compliance with global standards like Solvency II, IFRS 17, and LDTI. It provides reliable economic scenarios to navigate financial market instability and supports risk management decisions and financial disclosures. Milliman Economic Scenario Generator also covers a wide range of real-world use cases, including strategic asset allocation with realistic market simulations.
What does Milliman Economic Scenario Generator offer?
Milliman Economic Scenario Generator can offer a broad spectrum of services including a high quality software license with superior support, in-house ESG consulting, and turnkey scenario delivery services to reduce in-house production constraints while that streamline risk management and ensuring compliance.
How does Milliman Economic Scenario Generator automate the ESG production process?
Milliman Economic Scenario Generator automates scenario creation using a powerful sensitivity manager and parallel processing across virtual machines for faster generation. A REST API enables easy integration with any in-house system and programming language. Additionally, Milliman Economic Scenario offers automatic validation reports and a customized validation strategy to ensure reliability and compliance.
How long does Milliman Economic Scenario Generator take to implement on-site?
Milliman Economic Scenario Generator is a Software-as-a-Service (SaaS) solution hosted on Microsoft Azure cloud, offering a secure and user-friendly interface. It, minimizes implementation work and offers tailored modeling frameworks in line with regulatory guidance. Setup and training for the solution are quick, typically taking a few hours to a few days. For the most complex cases, an integration schedule lasting up to 10 weeks is provided.
What are the typical implementation costs?
For most users, there are no implementation costs due to the SaaS delivery model with an easy-to-use web interface. For customized implementations, costs are kept minimal, depending on the level of integration required.
What are the typical service costs?
Our services are tailored to meet the needs and budgets of businesses of all sizes. Milliman Economic Scenario Generator offers solutions for both small insurance companies and large groups, ensuring that even businesses with limited ESG budgets can remain compliant. Our goal is to provide accessible, high-quality solutions for all clients, regardless of their size or financial capabilities.
What is Milliman Economic Scenario Generator’s coverage in terms of assets?
Milliman Economic Scenario Generator provides extensive coverage across various asset classes, including interest rates, inflation, equities, real estate, alternative assets (private equity, hedge funds, infrastructure, …), corporate credit spreads, derivatives, and macroeconomic variables.
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