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Complex Risk

Milliman Complex Risk Analysis (CRisALIS)

Risk is complex and difficult to predict. Make the right strategic decisions and investments to protect your business with Milliman CRisALIS, providing tailored data selection, advanced modeling, a robust dashboard, and AI that predicts how risks will change over time.

Challenge–Cyber Use Case

Cyber risk is complex and dynamic

The interconnectedness of people and systems makes cyber risk challenging to predict and manage. Attackers constantly evolve their methods in an attempt to outthink your defenses. The potential for insider threats and errors adds to the uncertainty. Traditional risk quantification approaches such as assessments, loss distribution analysis, scenario analysis, and frequency/severity modeling don’t solve the business problem on their own.

Solution

Predict to prevent

Milliman’s Complex Risk Analysis is a next-generation cyber risk solution that incorporates a forward-looking approach to modeling how cyber risks occur and propagate. It provides organizational decision makers and risk managers with a more accurate understanding of current vulnerabilities—as well as actionable recommendations for mitigation decisions and sophisticated predictions about potential future losses. Using the power of AI, Milliman’s solution helps identify emerging threat vectors before they cause damage to your organization.

Video

CRisALIS for anti-money laundering

If you run an anti-money laundering program, you know how challenging it is to stay a step ahead of sophisticated criminal activity.

Video

CRisALIS for climate

Climate change is changing everything. Get the insights you need to mitigate risk effectively, invest wisely, and protect the future of your business.

Benefits–Cyber Use Case

Cyber risk modeling for the real world

FEATURES

CRisALIS key features

 

Intelligent data selection

The solution leverages both qualitative and quantitative data to enhance the credibility of the model and adapts to new information as it becomes available. We identify the most meaningful data for your organization, separating signal from noise whether that means augmenting, narrowing, or cleansing what you already have.

Holistic view

Variables are considered in relationship to one another, rather than in isolation, providing a more realistic view of the complex nature of cyber risk and the ability to bring unforeseen consequences to light.

Support for key processes

The insights delivered by Milliman’s solution help simplify CVA analysis and strategic planning. Interactive dashboards enable “what-if” scenario exploration to drive effective risk management.

Clarity about how uncertainty drives risk

We quantify the degree of certainty embodied in various assumptions. These effects are clearly shown in an intuitive user interface, enabling deeper understanding of risk.

White Paper

Assessing and quantifying cyber risk

As cyber attacks occur with increasing severity and frequency, cyber risk has moved to the top of many organizations’ critical risk lists. Organizations are exploring new methods and actionable steps to assess and quantify cyber exposure.

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Article

Four critical questions insurers must address before writing cyber

The cyber insurance market is creating both challenges and opportunities for risk managers and insurers. Here are four critical questions all insurers must answer before offering cyber coverage.

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RELATED SERVICES

Services related to Complex Risk Analysis

Resources

Milliman Complex Risk Analysis resources

Use case

Cyber

Cyber is an adversarial risk – someone is trying to outthink you.

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Use case

TPRM/Vendor

Assessments and risk registers are inadequate.

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Use case

Conduct

FI’s struggle with defining conduct, let alone measuring it.

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Use case

Non-financial Risk/Operational

Standard approaches are lacking for modeling complexity.

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