Conning, a provider of investment management services, risk and capital management software, advisory solutions and research to the insurance industry, announced the release of version 6.0 of its ADVISE Enterprise Risk Modeler, GEMS Economic Scenario Generator and the FIRM Portfolio Analyzer suite of software products.

The expansion of the Investment Optimizer functionality—first introduced earlier this year and expanded to include additional analytics—and improved interoperability are designed to provide more accurate and efficient enterprise risk modeling and strategic asset allocation within each of Conning’s three software products.

The Investment Optimizer can now also provide full asset-liability optimization using the GEMS Economic Scenario Generator when combined with an external liability system, Conning said. With this new functionality available in GEMS, full asset liability management is now available across all of Conning’s software products. In addition, improved interoperability of Conning’s three software tiers with other software applications is designed to enable external systems to operate seamlessly within an insurance company’s overall enterprise risk management platform. Companies can now more readily export economic scenarios and import projected liabilities from third party life actuarial systems and property/casualty risk management applications, the company said.

“This new release offers enhanced enterprise risk management solutions that can be configured to meet a wide range of needs for the insurance industry,” said Sherry Manetta, Head of Software Operations, Risk & Capital Management Solutions for Conning. “The enhancements in this release respond to our clients’ need to optimize investment returns on a risk-adjusted basis, with potentially significant impact on capital and liquidity over both the short- and long-term.”

Additional highlights of version 6.0:

   • Enhanced calibration tools are designed offer control over the economic assumptions and underlying dynamics of the simulated global economy.

   • In response to clients’ requests to better model their exposure to government securities, this release includes a Defaultable Sovereign Debt Model used to capture and reflect the market dynamics recently observed within the Eurozone.

   • New .NET interface is designed to provide a more familiar Windows look and feel, as well as the capability to extend the user interface in more intuitive and straightforward ways going forward.

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