DFA Capital Management and Teradata Launch Next Generation ERM Product.New Whole Company Modeling and Backtesting Functions Will Play a Key Role in Helping Insurance Companies Better Manage Financial Risks PURCHASE, N.Y. -- DFA DFA - Deterministic Finite-state Automaton. See Finite State Machine. Capital Management Inc. (DFA) and Teradata Corp (NYSE NYSE See: New York Stock Exchange : TDC TDC Top Dead Center TDC Time-to-Digital Converter TDC Tabular Data Control TDC Total Development Cost TDC Texas Department of Corrections TDC The Discovery Channel TDC Torpedo Data Computer TDC Theater Deployable Communications ), providers of enterprise risk management (ERM (Enterprise Relationship Management) An umbrella term with many shades of meaning over the years. It may refer to the management of information from any or all of an organization's customers, suppliers, business partners and employees. ) software and enterprise data warehouses and analytics respectively, today announced the availability of their new hardware and software platform, ADVISE[TM] - Enterprise Risk Intelligence (ADVISE-ERI) for the insurance and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industries. This next generation ERM product, an industry first, provides a more comprehensive way of measuring and managing risk and capital than has been previously available in the market. "The integration of DFA's risk modeling and economic scenario generator capabilities with Teradata's data warehouse technology and consulting services Noun 1. consulting service - service provided by a professional advisor (e.g., a lawyer or doctor or CPA etc.) service - work done by one person or group that benefits another; "budget separately for goods and services" create a powerful tool with unprecedented capabilities," said Jim Donovan Jim Donovan may refer to:
Designed for property and casualty, life and annuity sectors of the insurance industry, the combined technology of DFA and Teradata will provide insurers with the capability to more accurately measure and manage risk and capital. This technology is also the first to address backtesting, which is a method that uses relevant historical data in order to demonstrate a risk strategy's effectiveness to rating agencies. ADVISE-ERI assesses risk exposure across each business function and across the entire organization. Insurers can now start small and scale without limits, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the level of data granularity The degree of modularity of a system. More granularity implies more flexibility in customizing a system, because there are more, smaller increments (granules) from which to choose. required for analysis. Additionally, the technology meets long-term auditability requirements and is fully transparent to help insurers meet regulatory and rating criteria. "This new technology will play a key role in helping insurance companies better manage risk, which is especially important, given what's been happening in the economy," said Lisa Cash, executive vice president sales and marketing at DFA Capital Management. "Compared to traditional ERM systems currently on the market, the next generation capabilities of ADVISE-ERI give insurers the ability to model their business much more accurately. It is focused on letting risk managers and actuaries in the property and casualty, life, and annuity sectors thoroughly analyze their complete organizations by simulating thousands of risk scenarios that could have a potential impact on the business. What's especially important is that the technology can be leveraged across all business functions including asset and liability management, performance management, strategic planning Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. , reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. optimization, and capital allocation for improved risk identification and management." ADVISE-ERI leverages the advanced risk management capabilities of DFA's stochastic By guesswork; by chance; using or containing random values. stochastic - probabilistic modeling platform, ADVISE[TM], and GEMS[TM], its economic scenario generator, with the power of Teradata 12.0 Database and the Teradata Purpose-Built Platform Family for data warehousing See data warehouse. data warehousing - data warehouse . This unique combination offers market-leading performance and superior economic and financial modeling technology. According to Cash, the combination of the two companies' technology will ultimately help companies to increase the return on capital, develop focused strategies for funding balance sheets, and optimize the use of reinsurance. In addition, it will help companies to preserve or improve ratings, crucial to maintaining or increasing market share, by achieving the transparency required by regulatory and rating agencies. In May 2007, Teradata and DFA announced a partnership to bring an innovative enterprise risk and capital management solution to the insurance industry. The ADVISE -ERI product is the latest version of that solution and is now available. For more information, go to www.dfa.com/partners/teradata or www.teradata.com. About DFA Capital Management Inc. DFA Capital Management Inc. (www.dfa.com) is the market leader in dynamic financial analysis software for the insurance and financial services industries. DFA's software-based financial and risk management system is a foundation for competitive advantage for any insurance company with multiple business lines, reinsurance activities, rapidly changing business portfolios, and significant premium volumes. Founded in 1999, DFA Capital Management Inc. is headquartered in Purchase, N.Y., with offices in Germany and Switzerland. About Teradata Teradata Corporation (NYSE: TDC) is the world's largest company focused on raising intelligence through data warehousing and enterprise analytics. Teradata is in more than 60 countries and on the web at Teradata.com. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion