The client needed to assess the accuracy of a new module in its in-house reserving model for performing stochastic methods and resolve any errors.

Solytics developed a parallel model in Excel to:

1. Perform the same stochastic methods as the client's model, run both models with the same input data set and perform a comparative analysis of their respective outputs.

2. Replicate intermediate calculations step-by-step to identify and resolve errors.

3. Perform sensitivity tests and document the outcomes.

- Evaluated current processes, including model input and output procedures, to recommend improvements in efficiency or effectiveness.

- Implemented changes in methods and/or assumptions affecting reserving.

- Enhanced accuracy and reliability of the reserving model.