DIVA
Advanced Stochastic
& Dynamic
Financial Analysis
Modeling
A flexible, intuitive tool
to model the financial
impact of complex,
volatile insurance risks
in a rapidly changing
environment
Introducing DIVA
DIVA is a sophisticated stochastic financial modeling tool. It was initially developed
by Dion Durrell to enable its actuaries and consultants to provide financial modeling
solutions to complex problems facing its clients. In its current form, it has been
designed and developed to meet the robust risk management requirements contemplated under principles based capital (including Solvency II) regulatory requirements.
DIVA is a powerful, easy to use risk modeling software that enables users to better
understand the risk dynamics of their organizations, measured in financial terms
relevant to senior management, in an efficient and cost effective way.
DIVA’s ability to model on a “total balance sheet” basis (i.e. both assets and liabilities
on an integrated basis) plus its ability to model both Life and Property & Casualty
business lines, represents state of the art capital modeling technology. In addition,
DIVA’s capabilities extend to other applications such as enterprise risk management, reinsurance strategy optimization, asset liability management, business
planning/forecasting on a total balance sheet basis, reserving and rating agency
analysis, to name a few.
Due to its architecture, DIVA can readily and easily be embedded within a company’s
operations at all levels (e.g. the business operating unit, group corporate level)
and integrated in its decision making process. Finally, DIVA has been designed to
integrate in a seamless manner with other corporate systems.
DIVA can be used by a variety of organizations, including insurers, captives, reinsurers,
rating agencies and insurance regulators.
Power with ease
DIVA is an intuitive yet powerful and easy to use software
that combines:
• Drag-and-drop, modular components from a
wide-ranging library for rapid model development
and customization
• Easy ability to write your own formulas wherever
necessary
• Integrated charting and reporting at the click of a button
• Powerful, fast execution of thousands of scenarios
• Easy import/export of data with popular office software
• Batch capability to run sensitivity testing any way
you would like
• The Goal Seek capability gets any result – mean,
percentile, or other metric – by automatically adjusting
any input
DIVA takes the tedium out of constructing and running
models. It lets you put your effort into the analysis of risks
and the design of solutions.
Components
DIVA provides a wide range of pre-written components which are simply dragged
on to a ‘picture window’ in the model.
Pre-written components provide a range of:
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Common statistical distributions
Frequency/severity modules
Financial statements
Excess reinsurance programs
Multi-year run-off patterns
Life and disability insurance modules with seriatim data
Political risk and other geographic-contagious exposures
Interest and economic scenario generators
Investment income with individual asset lists and
definable future investment strategies
• Seriatim input files to represent policy listings or
event-driven claims simulation
• Catastrophe event or other inputs from external models
Library components are written in compiled code to produce execution speed and
algorithm sophistication that can’t be matched by spreadsheet-type programs.
Full feature formula capability is available on inputs to components.
Other components let you build your own modules with familiar spreadsheet-like
formulas combined with intelligible variable names.
Determining the
optimal balance
of risk and reward
DIVA’s powerful modeling capabilities can
be used for:
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Enterprise Risk Management
Reinsurance strategy optimization
Product/reinsurance treaty pricing
Pro-active capital management
including assessment thereof in
pricing and product mix
Asset liability management
Business planning/forecasting
on a total balance sheet basis
Reserving
Rating agency analysis/discussions
See it your way
Charts
Easy drag-and-drop construction applies to results as well as to model
construction. Any output item can be charted, analyzed or summarized
by simply dragging it to a new or existing chart.
A large number of settings allow key statistics to be generated about any
information. Chart routines store all scenario results so new views or key
items can be readily viewed without re-running the model.
Reports
Fully formatted text reports can be built with equal ease. Reports are not limited
by conventional spreadsheet sizes – they can contain hundreds of thousands
of rows and columns, and hundreds of thousands of scenarios.
Build it your way
DIVA allows easy interconnection from any component to
any other component in any order. Input to any component
can be a constant, or a random variable, or a formula
combined with other components.
The order of connections can be viewed graphically, or
components can be viewed in the tree structure. Models
can be organized with each business unit or other
logical structure each appearing on its own ‘picture’.
The complete modeling tool
Underwriting
risk
Operational
risk
Reserving
risk
DIVA
Liquidity
risk
Market
risk
Credit
risk
Get the answer your way
Support services
Goal Seek
Let DIVA adjust any input automatically until any desired output
is reached – whether it’s the mean, a percentile, or other metric.
DIVA is fully supported by Dion Durrell. Our services include:
Model Compare
Compares any models and tells you only the differences.
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Modeling and technical support
Comprehensive on site training
Expert consultancy
Project management
Find
Tells you where anything is used in the model.
Batch Processing
Run several different models, or run thousands of scenarios
with sensitivity testing. Batch Processing runs DIVA for you,
changes the inputs, and runs it again.
Hardware requirements
Append
Lets you import anything from one DIVA model to another.
DIVA makes full use of Single, Dual and Quad processors and
Multi-processor servers.
Connectivity
DIVA easily and instantly imports and exports to the Windows
clipboard, text files, databases and Microsoft® Office® software.
For best results, 1Gb or more of RAM and clock speeds of 1GHz
or higher are recommended.
On-line Help
Extensive, context-sensitive help is available at the press
of the F1 key.
Total Transparency
With exceptional edit, tracking, validation and audit features.
DIVA runs on any Windows-based PC.
About Dion Durrell + Associates
Further Information
Dion Durrell is an actuarial and risk management consulting
firm servicing clients around the world from offices in
Toronto, Montréal, Chicago, London and Barbados. We provide
independent, conflict free advice and focus on driving
tangible results for our clients, through creative thinking,
innovation and knowledge transfer. The firm’s practice
areas include property and casualty, life/financial services,
reinsurance, healthcare liability, alternative risk transfer
and risk management.
To request a demonstration of DIVA, please contact:
For further information visit www.dion-durrell.com
John Fitzpatrick
T: + 1 416 408 5359
Julie-Linda Laforce, FCAS, FCIA
T: + 1 514 673 4708
Steve Prince, FSA, FCIA
T: + 1 416 408 5321
Michel Trudeau, FCAS, FCIA
T: + 1 416 408 5295
Email
[email protected]
Toronto Chicago Montréal London Barbados dion-durrell.com