Benfield Launches Financial Modeling Tool

London-based independent reinsurance and risk intermediary, Benfield, has launched a new financial modeling tool that helps insurers and reinsurers better quantify the risks inherent in their business in line with rating agency and solvency requirements.

Curve for Risk Analysis Fitting Tool (CRAFT) was developed by the Benfield ReMetrics team, which specializes in the development and licensing of risk analysis software. CRAFT enables users to fit loss severity distributions to loss experience data, creating a more accurate impression of a company's financial risk profile. CRAFT can be used on a stand-alone basis, as an add-in to Excel spreadsheets, or as an add-in to ReMetrica, Benfield's DFA and capital modeling software.

CRAFT allows for a mixture of data and constraints, such as historical losses and a certain Probable Maximum Loss (PML) amount, so that the distribution can fit against all information. It enables fitting against subsets of the data, excluding any certain outliers.

Peggy Bresnick Kendler has been a writer for 30 years. She has worked as an editor, publicist and school district technology coordinator. During the past decade, Bresnick Kendler has worked for UBM TechWeb on special financialservices technology-centered ... View Full Bio