Awards 2011: Risk engine: Milliman

Risk engine: Milliman

This year, Milliman undertook its largest ever project: overhauling the actuarial systems of UK closed life fund consolidator, Phoenix Group.

The project showed off some of the key innovations and enhancements that Milliman had developed for its risk engine, MG-Alfa.

Brian Reid, MG-Alfa sales director at Milliman, says: “As a consolidator of closed life funds Phoenix ended up with a collection of models on different systems. As a result it was impossible to meet the requirements of Solvency II.”