Palisade releases new @RISK 5.0

Palisade Corporation has released @RISK 5.0, a new version of its risk analysis software for the insurance and reinsurance industries.

@RISK performs Monte Carlo simulation within Microsoft Excel to identify and reduce risk in loss reserves estimation, premium pricing, and other insurance applications.

Under development for the past three years, @RISK 5.0 has been redesigned to facilitate corporate-wide collaboration and model sharing.

Of special interest to users in the oil and gas industry, said Palisade, is the new compound function that eliminates thousands of separate frequency and severity distributions by combining them into a single function. Palisade said this would save hours of work. The new release also provides integration with Excel via its new Office 2007-style interface.

According to Palisade, highlights unique to @RISK 5.0 include:

• All-New Interface allows users to analyze risk without ever leaving their Excel spreadsheet

• @RISK Library is an SQL database that allows sharing of specific probability distributions and simulation results

• Function Swap lets non-@RISK users share and edit @RISK spreadsheets

• Improved customisable graphics for improved communication of analyses to colleagues

• Live simulation updating to help explain simulation to others

• Improved sensitivity analysis reduces irrelevant data

• Dedicated Six Sigma functions for improved quality analysis

Optimisation in Industrial Edition

The Industrial edition of @RISK 5.0 includes the all-new RISKOptimizer 5.0, the optimisation add-in to Excel. RISKOptimizer combines genetic algorithm optimisation with Monte Carlo simulation to solve complex problems—like asset portfolio optimisation.