Comment by klelatti
5 years ago
Thanks for a really comprehensive reply. Enjoyed your comment on PowerBI.
My background is mainly life which is dominated (at least in Europe) by computationally demanding proprietary liability modelling systems but I think Python / R is getting a foothold in capital calculation / aggregation.
My perception that there is a lot more use of in-house models in the GI / property-casualty worlds so more Python etc but sounds like you still have to interface with proprietary modelling systems.
Absolutely - and for quite a long time (I work mainly property).
There's not much (if any) appetite to completely rebuild 3rd-party geophysical vendor models. Those folks have 20+ years of work behind them and a different talent base (e.g. different types of scientists building the base models).
But we do focus on all the other stuff. Making data input easier/more accurate. Same thing re: output. Also the vast majority of our capital and group-level risk work happens in-house - R, Python, etc.