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Case Study: Markel takes a model approach
Using Igloo, Markel has identified a path to achieve its ambition of integrated financial, management and capital planning. Along the way, and with EMB’s support, it is improving business management and understanding of issues such as natural catastrophe exposure, reinsurance purchase and capital allocation.Realising that the spreadsheet-based model used for its internal capital assessment (ICA) “would not stand the test of time”, Markel International selected EMB IglooTM to upgrade its capital modelling capability. The availability of a faster-running, more flexible model has simplified ICA submissions, helped prepare for the arrival of the Solvency II Directive, and contributed to a wider enterprise risk management (ERM) approach within the business. More
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