Dynamo Analytics has secured a highly commended recognition in the reserving solution of the year category for its Psicle platform, which offers a technology-led solution to insurers' reserving challenges.
The Psicle platform provides a diverse range of deterministic and stochastic modelling approaches for reserving, with an advanced interface to handle complex processes.
Psicle's automation capabilities rapidly produce a first cut of results, including a full suite of reporting, while offering rich diagnostics and selection interfaces for the application of expert judgment.
Recent milestones for Dynamo Analytics include the initial launch of Psicle Web, a fully managed-service web-based platform, and the introduction of reserving templates offering out-of-the-box end-to-end reserving process automation.
The company has also increased the sophistication of machine learning and AI embedded into its process, including automated ultimate selections and clustering for reserving segmentation.
Dynamo Analytics' holistic approach to reserving, combined with its diagnostic-led philosophy, has enabled clients to reduce working day timetables by up to 50%, allowing actuaries to focus on more valuable activities.
Looking forward, Dynamo Analytics is confident it can meet the future challenges presented by reserving. "With advancements in technology and heightening regulatory requirements, insurers demand credible results at the click of a button," a spokesperson for the company says.
Psicle provides "rapid, automated, highly governed, and increasingly algorithmic reserving processes," the spokesperson states. "Integrating with other business processes and systems, Psicle maximises the capacity of teams to apply actuarial judgement and meaningfully collaborate and engage with their stakeholders."
The Dynamo Analytics spokesperson notes that the firm's "end-to-end process industrialisation philosophy is resonating," and it looks forward to "embracing future actuarial and financial modelling challenges to their benefit".
