Milliman's Integrate platform has picked up the Americas ALM solution of the year award because of its innovative approach to asset liability management (ALM).

Integrate has distinguished itself through a "three-pronged" strategy that addresses the complex regulatory needs of re/insurers, particularly in the Bermudian market.

Integrate's first notable feature is its capacity for modelling alternative assets. As the trend towards non-traditional investments grows, Integrate enables re/insurers to accurately evaluate the risks and returns of these assets. This capability is crucial in a dynamic market, like Bermuda, that offers users a competitive edge.

Secondly, the platform's advanced scenario generator supports multi-currency models and ensures exchange and interest rate parity across different currencies. This is particularly helpful for re/insurers operating in multi-currency environments.

Lastly, the judging panel liked how the solution enables modern strategic asset allocation strategies. For example, the Milliman tool offers a key-rate duration weights strategy to optimise asset allocation and managing interest rate risk.

A Milliman spokesperson highlighted the platform's strengths, stating: "Integrate captures the interactions of liabilities and assets on a period-by-period basis across a range of economic conditions".

In the future, Milliman sees significant potential for AI to provide insights to companies by leveraging the huge amounts of data that actuarial and risk models can generate.

"With Integrate sitting on top of a modern data platform, we are committed to making sure our clients have the ability to get deep insights from this data quickly and efficiently," the spokesperson adds.

Overall, this award underscores Milliman's role as a strategic partner that is empowering actuaries to navigate the complexities of ALM.