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.
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.
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.
Cyber risk modeling for the real world
Get actionable insights
Understand where threats are most likely to emerge so you can take the right actions to mitigate risk and reduce financial impact. Milliman Complex Risk Analysis ties cyber risk directly back to your balance sheet and forecasts, and helps you model the effect of various actions.
Speed time to results
Milliman Complex Risk Analysis includes an efficient and thorough initial analysis to develop your custom Cyber Risk Profile, including an expert elicitation and validation process, causal model development and calibration, and dashboard creation.
Communicate effectively
Translate cyber security information into the language of boards, business decision makers, and managers so they can make the right decisions with confidence. Easy-to-understand dashboards drive decision making across the organization. Analyze risk by geography and business unit as well as enterprise wide, supporting targeted action.
Stay ahead of risk
AI examines unstructured external data such as news and social media to determine how threats are changing their methods so you can strengthen your defenses before you become a victim. It can also analyze internal unstructured data to identify problematic behaviors.
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.
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