It had always used powerful Sun workstations for such risk modeling, but it was getting too expensive.
Catastrophic risk modeling is less crystal ball prognostication and more Vegas-style odds making.
Unfortunately, the Senate hearing did not focus on specific elements of GAAP and Frank Dodd related to risk modeling and asset valuation.
Organizations have to construct their own data for valuation and risk modeling.
All the catastrophic risk modeling in the world cannot either predict or completely alleviate the financial impact of a year so fraught with massive, costly, and frequent disasters as 2011.
The above description of the process of creating a catastrophic risk model and applying its projections may make it seem as if insurance companies have the ability to predict and plan for all uncertainty, but the truth is that catastrophic risk modeling only helps to a certain degree.
Over time, an integrated approach to modeling and risk management can provide firms with better abilities to identify and predict risk.
FORBES: Analytics May Help Insurers Confront New Risk Environment
Huang is now turning his focus beyond gamers to a host of new customers that will need number-crunching power: oil companies doing deep-sea seismic analysis, Wall Street banks modeling portfolio risk and biologists visualizing molecular structures to find drug target sites.
Every three months it assigns each company an accounting and governance risk score, or AGR, based on proprietary modeling designed to identify practices that historically have had a high correlation with increasing shareholder risk.
You can read it all at the newspaper link but shocking as why else would this occur other than predictive modeling giving a bad risk assessment when in fact nobody has missed a payment?
Fair Isaac weighs up to 20 variables when modeling a small fry's risk profile.
The free site RiskGrades.com will run a diagnostic on all the assets in your portfolio using sophisticated econometric modeling to tell you if each holding is worth the risk.
Core research areas addressed in the 2011 strategy include: nanomaterial measurement, human exposure assessment, human health, environment, risk assessment and management, and the new core area of predictive modeling and informatics.
Because new technology has flourished since then, scientists could discover that some new systems are also at risk, said Jeffrey Hughes, director of the Center for Integrated Space Weather Modeling at Boston University.
WSJ: Solar Flare: Sun Flare Leads to Solar Storm Reaching Earth
In the last few years, however, risk analytics have become much more powerful, driven in part by advances in areas such as modeling and testing, but also by the explosion of data available for analysis.
FORBES: Analytics May Help Insurers Confront New Risk Environment
Risk analytics can augment more traditional reporting, business intelligence and data warehousing capabilities with newer techniques in modeling, claims analytics and fraud analytics.
FORBES: Analytics May Help Insurers Confront New Risk Environment
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