Igloo Enterprise
“Igloo was good when we bought it, but
has developed hugely since. It is robust,
fast and very well structured. It allows
us to investigate issues in a way and to a
depth that was unimaginable 10 years ago.”
Igloo Enterprise 3
As the enterprise-level product in the Igloo modeling suite, Igloo Enterprise is designed for organizations that need to run sophisticated P&C models or organizations with smaller models and many assumption variations. It provides you with a centrally managed modeling architecture that enables IT departments to control and schedule model runs. Moreover, the application can be wrapped to become a component of other business systems used in areas such as pricing and
reinsurance.
With Igloo Enterprise, you can distribute Igloo model runs across your network of computers, automatically running the necessary projects in parallel. Enterprise can run your large models more quickly, or initiate smaller calculation jobs in the background without tying up your desktop PCs. If you already use Igloo models, the additional functionality of the Enterprise edition allows you to run them across multiple machines, dramatically improving overall run times with little or no modifi cation.
Operational Effi ciency
The close integration of the Enterprise edition with Igloo Extreme means that little or no extra training is necessary. Whenever imported projects require calculation, an Enterprise job is submitted automatically, making interactions for existing Igloo users straightforward.
Igloo Enterprise respects model interdependencies, ensuring that your models are run only after their dependencies have been calculated. For example, it will recognize that a global parameters project has to be run only once, if at all, and that any models dependent on this model must wait for it to fi nish before being calculated.
Effective Data Control and Governance
The data control component provides a robust environment for running Igloo models using an enterprise-grade database for storage. Critically, for regulatory environments such as Solvency II, this ensures demonstration of the repeatability of results and a full audit trail. The database can also be integrated with your upstream and downstream management information and data systems. Interaction with the system takes place through a web browser that, while providing full data security, enables non-Igloo users to execute models.
Igloo Enterprise has many features to help you work within the stringent governance framework of new regulatory requirements. For instance, Igloo Enterprise enables your IT department to control the allocation of computing agents, so that model processing remains within the company information technology infrastructure rather than being dispersed across potentially less-controlled desktop PCs.
The Enterprise edition improves the effi
ciency of
larger-scale property & casualty (P&C) modeling operations.
Key Benefi ts of Igloo Enterprise:
•Improves model run times and maximizes model throughput
•Consolidates model runs while maintaining interdependencies
•Monitors the system through the Enterprise Administration Console
•Effi ciently runs multi-scenario testing and stress testing
•Supports a stronger governance framework
•Makes models accessible to nontechnical users
•Integrates seamlessly with the proven capabilities of the Igloo modeling suite
Client-Centricity
•A rapid model development environment with fl exibility to import a wide range of data from your existing models
•Transparency: In the same way that users can see every formula and investigate intermediate results in all Igloo editions, the Enterprise edition’s administration console provides system monitoring and control capabilities
•Processing speed and performance: As a distributed solution, Igloo Enterprise offers you improved model run times
•Full feature set for data control, versioning, security and audit trails
•Model runs can be controlled via a web browser, enabling non-Igloo users to execute the model
•Your jobs can be submitted to Enterprise by a number of means:
• Using Igloo Extreme interactively or from the command line
• Using the supplied project submission tool
• Using the .COM or .NET interface: This enables developers to create integrated web applications based on their Igloo models
Technical Effi ciency
• Respects existing model interdependencies
• Scheduler ensures that modeling jobs can be run across a number of machines
• Incorporates fully defi ned user roles and precise data access permission levels
• Does not require knowledge of C++, C# or similar programming languages
The core of the product is an intelligent scheduling web service application that enables Igloo jobs to be run across a number of agent machines.
The agents used to calculate the models are variants of Igloo Extreme, ensuring the same level of robustness and performance that can be found in Igloo Extreme, but distributed across multiple machines.
Licenses
Igloo Enterprise licenses are structured to be fl exible. The distribution component is sold in packs of 20 agents (each agent being the engine used to calculate an Igloo project). The data control component within Enterprise is licensed on a concurrent scheduled job basis, utilizing the channel licenses, and does not have any user restrictions. Separate channel licenses are required for those wishing to submit jobs to Enterprise without using Igloo Extreme (e.g., using the .COM or .NET interfaces or the supplied submit application).
Key Features and Applications
Igloo Enterprise builds upon universal Igloo
suite features to deliver performance
improve-ments for your complex modeling needs.
Igloo Enterprise 5
Igloo Enterprise Component Architecture
At the heart of the Igloo Enterprise system is the scheduler that controls which Igloo projects are distributed to available agent machines for processing.
Igloo Extreme seamlessly integrates project submission, via the Igloo Enterprise .COM Bridge, within the familiar Igloo user interface.
The .COM with a .NET interface allows you to integrate Igloo runs within your business process using, for example, a web-based data capture and reporting tool.
Igloo Model Database
Igloo Enterprise Scheduler
Downstream Management Information Systems Extract, transform and
load (ETL) processes
Read-only access to model fi les
via Igloo Extreme Web browser
Igloo Models in Secure File System
Modeling Team User
Business Users
Igloo Enterprise Web User Applications
Igloo Enterprise Agent Machines
Data Sources
Hands-on additional resources for scoping, building and peer reviewing model developments are available. This extends to areas such as data specifi cation, parameterization and regulatory compliance through close monitoring of developments in risk-based supervisory codes around the world.
Training
As changes inevitably take place in your modeling team, we offer training support, covering not only use of the software, but evolving actuarial techniques that will enable you to get the most from your models.
Model Components
You may fi nd that you need help in customizing the standard library modules within Igloo or creating new components to refl ect the changing nature of your business. We can advise or assist you with such specifi c requirements.
Bespoke Interfaces
Towers Watson’s software development team can work independently or in support of your IT group, to develop .COM or .NET interfaces to meet your specifi c requirements.
Calibration and Peer Reviews
Model calibration, including how to get the best from your internal data, is an ongoing challenge, even for experienced modelers. Because we work with models every day and invest a great deal of time in research and development, Towers Watson consultants are well placed to advise you on the effi ciency of model design and what constitutes market best practice. Towers Watson also offers an audit service on in-house-developed Igloo models.
IT Infrastructure Support
We can advise you and work with your in-house IT teams to ensure that your networks are confi gured to extract the best possible performance from Igloo Enterprise.
Help Line
Dedicated software help lines are available to Igloo users around the world.
Product Support
Igloo supports your ongoing modeling
operations regardless of how sophisticated
they already are.
“Igloo offered us the most fl exible and transparent risk modeling tool. What gave us additional confi dence is that the consultants involved really know their way around models and the insurance industry in general.”
— Dan Wilkinson, Head of Risk, Operations and Compliance, Travelers UK
Software Portfolio
Towers Watson provides sophisticated risk, analytics and
consulting solutions that help P&C and life insurers meet the
rapidly evolving demands of today’s market.
The acquisition of EMB in 2011 has added signifi cantly to Towers Watson’s software offerings,
providing a truly comprehensive portfolio of analytical software. We combine innovative actuarial thinking with software expertise to develop comprehensive solutions that measure value, manage risk and safeguard solvency.
Financial modeling software
Clients in more than 30 countries — leading P&C and life insurance companies, multinationals, pension funds, mutual funds and asset managers — know that enhanced risk and capital management has become a differentiator for success. That’s why they’ve made our systems an integral part of their business.
•Igloo
•MoSes
RiskAgility
•Simulum•TAS Tillinghast Actuarial Software
•Economic Scenario Generators
Pricing software
Our range of software tools enables you to plan, manage and optimize your pricing process. Used independently, or alongside our consultancy services, these tools are powerful additions to your business.
•Emblem
•Pretium
•Classifi er
•Rate Assessor
•Optimiser
•Prism
Reserving and other insurance software
In addition to industry-leading software that helps companies to run the loss reserving process with speed, ease and fl exibility, we offer specialist analytical software for insurers and reinsurers.
•ResQ
•Replica
•Repro
Marketing analysis software
Optimize media and advertising spend on defi ned sales and marketing objectives using granular actuarial techniques.
Copyright © 2011. All rights reserved. NA-2011-19790. March 2011.
About Towers Watson
Towers Watson is a leading global professional services company that helps organizations improve performance through effective people, risk and fi nancial management. With 14,000 associates around the world, we offer solutions in the areas of employee benefi ts, talent management, rewards, and risk and capital management.
For more information, contact your local Towers Watson offi ce or e-mail us at [email protected].
