Risk Management meets Open Source

PillarOne is an actuarial workbench for reserving, risk modelling/aggregation, ALM and reinsurance optimisation. The individuals who contribute to the PillarOne platform are industry experts from different backgrounds, including actuarial consultants, (re)insurers and auditors, with the IT infrastructure built by IT professionals. Our experts are united in their commitment to the open-source philosophy – that knowledge sharing benefits all participants.


PillarOne fosters a risk management infrastructure to consolidate all different ERM applications usable in a stand-alone or multi-user, client-server mode. Quantitative decision support for ERM cannot be delivered using a single model or application, but output from one model may be needed as input for another. For example, the reserve volatility estimates calculated are inputs for capital requirement models such as that used for Solvency II. And outputs from various ERM applications are used for reporting.

This shows the need for a common risk data and model infrastructure. Sound infrastructure with end-to-end coverage from input data management and calculation engine to output analysis and reporting reduces operational risk and increases efficiency.


Product Claims

Transparency

In particular in risk management, transparency has a high value. PillarOne provides the utmost transparency. You get the code and the documentation to verify that the business logic does what the documentation says it should do.

Quality that can be verified
  • You get a rich set of test cases, which ensure that changes and extensions have no unwanted side effects. Of course you get the test coverage reports, as well. This significantly reduces the cost of upgrading to a new version.

Plug-in approach

A component-based modelling platform for deterministic and stochastic risk and capital models. These models can be single-period or multi-period. Data-driven modelling is supported, i.e. models can reconfigure themselves according to parameters. Powerful support for input and output data analysis and management.

The platform is split into
  • persistence and distributed simulation engine,
  • user interface,
  • various business logic plug-ins.

Commercial open source

Commercially supported by renowned firms, but free to use and extend - open source. PillarOne is licensed under the GPL v3 license.

Freedom
  • Apply whatever is useful to support your business. Feel free to change or extend PillarOne to make it even more suitable. And share your applications / models with as many users as you like. Nobody can force you to share developments with the community.

Latest release: PillarOne.RiskAnalytics 1.8

The focus of this maintenance release was a refactoring of the navigation functionality to improve the multi-user experience with better performance and automatic refresh. Furthermore, the filter functionality has been improved.

Business LogicApplication
  • Additional clause for quota share contracts enabling loss participations to be modelled
  • Improved commission calculations in a multi-year context, including loss carry-forwards
  • Additional result figures on claims and financials introduced, such as cumulative values, risk-based figures and loss ratios
  • Additional “ORSA” model added.
  • It includes a sounder concept for defining reinsurance contract cover than the GIRA model and can be used for more complex reinsurance programmes
  • New option for defining fixed claims by date and iteration. This enables the output of other simulation tools such as ESG scenarios to be integrated. These data can either be defined within a claims generator itself or within an external resource parameter.
  • Resource parameters can be referenced in an arbitrary number of parameterisations. They are useful for scenario calculations.
  • New concept of reference parameters These parameters are selected in a similar way to those for the simulation pane and can used for several parameterisations, even in different models. This new feature is especially powerful when it comes to scenario modelling as it enables scenario parameters to be separated from the rest of the parameterisation and the same parameterisation can be run easily with different resource parameters. So far, there has been no publicly available model that has allowed this new feature to be used.
  • New concept for aggregate collectors introduced enabling additional collectors to be added easily using a configuration rather than a coding approach
  • Update to GridGain 3.6, the distribution computing solution used by PillarOne.RiskAnaltics navigation refactoring to start clients up faster and enable extension points for additional context menu items to be easily integrated.
  • Upgrading to ULC 2013


Service Providers

Stefan Kunz

Intuitive Collaboration AG

We provide the whole range of PillarOne implementation services, from actuarial/risk model specification to delivering turnkey actuarial solutions. We can connect PillarOne to data warehouses where your risk data is stored or build such a warehouse. The same warehouses can be used to store modelling results and thus become the basis for your risk reporting.

Markus Meier

Azenes GmbH

We offer model embedding from parameterisation and documentation to process integration and model review, either internal or with the regulator. Our focus is on PODRA, MultiCompany and GIRA, for which we have been part of the development team. From small models – e.g. for analysing the profitability of a single line of business – to large models – e.g. to provide a second opinion to an existing model – we are happy to deliver a service tailored to your needs.

Jon Bardola

FS Consulta GmbH

We offer consultancy and support for the development of the cash-flow projection model for a life insurance portfolio under the PillarOne application. We have the experience to parametrise and set-up the life modelling platform and to determine, for example, the shareholder profitability of the life insurance business. We can manage implementation projects considering entire ranges of assumptions and conditions as well as further enhancements of the current life modelling platform.

Norbert Kuschel

Munich Re

PODRA (PillarOne Dynamic Reinsurance Analysis) is a service developed by Munich Re to depict and measure underwriting risk in non-life insurance. Applying PODRA to different reinsurance structures stimulates discussion between the client and Munich Re to decide which reinsurance programme is best suited to an individual company’s risk profile.

Dierk König

Canoo

Canoo offers IT consulting services and end-to-end development of PillarOne enterprise integration. Canoo is a solution provider for Rich Internet Applications (RIA) based in Basle, Switzerland, and a notable part of the PillarOne development team with several senior engineers and the lead technical architect.
Canoo sponsors the PillarOne open-source effort through free licences for Canoo UltraLightClient. This allows PillarOne to provide a desktop-like user experience in both stand-alone and web application mode.