Whether you are a global company looking to create and use financial models worldwide or a smaller operation that wants the benefits of models without impractical time and staffing commitments, Igloo offers the flexibility and control to meet your business needs.
Igloo helps you:
- Assess the overall risk profile (e.g., profit distribution)
- Calculate regulatory and economic capital requirements
- Set business plans and strategy
- Set performance targets (e.g., allocation of capital)
- Assess reinsurance requirements and pricing
- Determine asset strategies
- Price business at the portfolio or individual contract level
- Determine suitable capital structures
- Optimize portfolios
Igloo is available in five editions, which are designed to meet varying organizational and budget requirements with an easy upgrade path:
- Igloo Compact Edition (ICE) is the entry-level product for companies getting started with modeling.
- Igloo Express is designed for users who do not need access to underlying model detail.
- Igloo Extreme offers full customization of models.
- Igloo Enterprise provides a distributed, networked solution that maximizes throughput and supports a stronger governance framework.
- Igloo Audit allows third parties to conduct independent audits of Igloo models.
Igloo users can quickly start to see how decisions impact wider business risk and can use model outputs to promote a broad understanding of risk within the business. Willis Towers Watson's actuarial and modeling experts provide as much support as you require throughout the build phase and as you develop your use of Igloo.
To help clients develop models quickly, Igloo comes with a range of built-in library modules:
- Economic scenario generation
- Claim modeling, including parameterization
- Reinsurance contract modeling and pricing
- Reserving, including ranges
- Business planning
- Financial reporting
- Capital setting and allocation
- Igloo Standard Formula
- Europe Internal Models Library
- Igloo U.S. Modeling Application
Igloo is one of the insurance industry's leading modeling platforms, and is noted for its transparency and scalability. The Igloo platform can enable a more risk-conscious business culture by providing the technical analysis to support strategic planning and management.