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Milliman launches innovative GPU-accelerated computing software for actuarial modeling

Booster-FMS streamlines processes, improves run-time for IFRS 17 and variable guarantee reserving
Milliman, Inc.
2017-06-01 08:00 3266

SEOUL, South Korea, June 1, 2017 /PRNewswire/ -- Milliman, Inc., the premier global consulting and actuarial firm, today announced the launch of Booster-FMS (financial modeling solution), a GPU-accelerated software program that increases computational performance for actuarial modeling and insurance reserving.

Using the same GPU technology found in machine learning, artificial intelligence, and self-driving cars, Booster-FMS contains patented technology that allows a user to translate and compile Microsoft Excel VBA codes to either CPU or GPU computational codes in a variety of environments: laptop, desktop, server, or in the cloud. The result is an easy-to-use stochastic reserving/actuarial modeling tool in which users need only understand Microsoft Excel VBA codes to complete advanced computational modeling.  

"Our clients were looking for an efficient, cost-effective way to improve their reserving processes," says Chihong An, managing director of Milliman's Seoul office. "Booster-FMS can accomplish in one hour what it takes traditional software several days to complete.  This is a truly innovative modeling tool that we envision expanding beyond the actuarial space to bring faster processing speeds to risk management and financial services markets."  

To learn more about Booster-FMS, please contact Chihong An at chihong.an@milliman.com or Joseph Kim at joseph.kim@milliman.com.

About Milliman

Milliman is among the world's largest providers of actuarial and related products and services. The firm has consulting practices in healthcare, property & casualty insurance, life insurance and financial services, and employee benefits. Founded in 1947, Milliman is an independent firm with offices in major cities around the globe.  For further information, visit milliman.com.

Source: Milliman, Inc.
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