Leverage your existing Excel models and go further,
all within a secured easy-to-use and audited framework.
Milliman Mind is a flexible and easy-to-use web-based platform which automatically converts Excel spreadsheets to more powerful models with all the capabilities and controls of more expensive “black-box” systems.
“As actuaries / insurance analysts, we need to design powerful models in shorter and shorter time, ensuring full auditability and transparency of our work.”
“As chief officers, we want to control cost of our modeling software and provide reliable information for confident decision making and reporting.”
Benefits of the solution
Improves efficiency through automation and fast calculations.
Simplifies model design in Excel.
Easily add multiple model points dimensions or stochastic frameworks to your Excel models and run different scenarios without need of VBA code.
Run your Excel models up to 100 times faster with Milliman Mind as compared to Excel/VBA with C# compiler, and save time for modeling and analysis.
Less expensive than a black box solution or developing in-house.
No need for complex IT infrastructure.
As Milliman Mind is an SaaS Cloud-based solution, it doesn’t required complex and costly IT infrastructure: all you need is an internet connection and you will be able to access and run your Milliman Mind Projects on your computer, tablet or smartphone.
Easy to implement and maintain.
As model design is Excel-based, there is no need to learn new programming languages and complex interfaces. Models documentation and maintenance are also simplified.
Provides reliable information for confident decision making and reporting.
Ensures reliability of your calculations: once uploaded into Milliman Mind, links between different Excel spreadsheets are recognised and cannot be broken.
Ensures reliability of your results: with the Milliman Mind audit trail, you keep track of every change made to your models. The solution records who made the changes and when, and you can go backward and forward through each change.
Satisfies regulatory and audit requirements for proper internal controls.
Validate and sign projects.
For proper internal validation and control, you can validate and sign your projects directly within Milliman Mind. Projects will then be on ready-only access to prevent changes of assumptions or model structure.
Enable lock simulations.
For the purpose of regulatory supervision, you can choose to lock the seed of the random generator in order to get the same stochastic results for each run.
IFRS 17 ready.
Milliman Mind provides all copulas recommended in the International Actuarial Association Exposure Draft for IFRS 17.
Automated conversion from Excel to C#.
Benefit from C# power of calculation in a click and without having to learn C# language: continue to design your models in Excel, then upload them to Milliman Mind with a simple drag-and-drop to automatically convert your spreadsheets into C# object-oriented modules.
User-friendly interface to access and display your data.
Use the main menu on Milliman Mind to navigate through the workbooks, sheets and grids of your projects and display your data the way you want.
Use the drop-down list available on each grid to navigate through the different model points and simulation results or to display some risk measures results. Click on the chart button to display different types of charts: bar charts, line charts, stochastic-specific charts...
Visual overview and securing of projects.
Benefit from the timeline view of your projects, do not miss any deadlines and secure the sign-off of your projects. Allocate the appropriate user rights to each of your team members in a click. Use the roll forward and back of projects to quickly set up a new version or a new occurrence of an existing project.
Simplified modelling for model points and scenarios.
Add multiples model points dimensions to a simple model and run multiple scenarios in Milliman Mind just by following some simple best practices in your Excel modelling.
Milliman Mind automatically runs the calculations for each model point and scenario, even in a stochastic framework, and enables you to access and display all calculation results as simply as if it were a single-model point deterministic projection.
Milliman DC for Microsoft Excel
Milliman DC for Excel is a library of functions for Excel, simplifying the setup of probability models and extending the Excel range of distributions and copulas.
Milliman DC for Excel is powered by Milliman Mind and available to download for free.