Insurance analytics · Milliman, Inc.
Milliman
Actuarial consulting firm and software provider whose modeling tools support life, health and P&C reserving, pricing and risk analysis.
Milliman is an actuarial consulting firm that also licenses the modeling software its own actuaries use, so its tools tend to be bought alongside, or as a follow-on from, a consulting engagement rather than as pure self-service software. MG-ALFA handles actuarial projection for life and annuity products; Arius performs P&C loss reserving and claims triangulation; MedInsight analyzes healthcare cost and utilization data for payers and reinsurers. An economic scenario generator supports capital modeling and regulatory capital requirements. Unlike Moody's RMS, which specializes in catastrophe risk, or Akur8, which focuses narrowly on pricing, Milliman's tools span the actuarial function broadly across life, health and P&C lines, reflecting the firm's consulting practice rather than a single product focus.
At a glance
| Vendor | Milliman, Inc. |
|---|---|
| Pricing model | Quote only |
| Free tier | No |
| Deployment | Cloud, Self-hosted |
| Open source | No |
| Best for | Actuarial departments at insurers needing specialized reserving, pricing or capital-modeling software backed by consulting expertise. |
Pricing
Software licensing typically bundled with actuarial consulting engagements; not published.
Pricing has not been verified yet — see the vendor's site.
Features
- Actuarial modeling for life and annuity products (MG-ALFA)
- P&C loss reserving and claims triangulation (Arius)
- Healthcare cost and utilization analytics (MedInsight)
- Economic scenario generators for capital modeling
- Regulatory and statutory reporting support
- Actuarial consulting alongside software licensing
Integrations
Profile last reviewed September 21, 2026