The latest news from Broadstone, who have made key updates to their asset modelling platform, Summertime.
Summertime allows investment managers to bridge the gap between their traditional analysis and the actuarial analysis that Boards receive from actuaries, enabling them to see the impact of their decisions on solvency.
The tool addresses demand from investment managers for greater clarity following Solvency II reforms and the rising focus from insurers’ Boards on solvency risk factors, while supporting insurers with in-house actuarial or investment expertise to analyse asset data.
In addition, the tool allows users to quickly spot data errors and better understand the make-up of their asset-mix through built-in charts and statistics. Results can be downloaded into a single, convenient spreadsheet, with full audit information for each run.
The following features have now been added to the upgraded proposition:
· A brand-new calculation engine to deliver faster performance.
· Individual asset-level options to show the cash flow and formula on how spread risk has been calculated on a particular asset.
· Enhanced asset-mix scenario testing which now includes duration and credit-step adjustments made to portfolios.
· Cash flow outputs to open up a whole new dimension of analysis to support investment strategy and regulatory work.
Greig Bingham, Head of Financial Modelling at Broadstone, commented: “There is strong demand from insurers to stress-test assets under market risk scenarios, enabling them to understand how strategic investment decisions are impacting solvency.
“Summertime’s asset modelling platform meets this demand and allows investment managers to transpose their work against solvency measures so that smarter, faster and more informed decisions can be made at Board level.
“The updates we have delivered to the proposition this year further simplify the complex Solvency II and asset modelling challenges that insurers face by providing more granularity and faster performance.
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