| Team Name |
Roo Bots |
| Track |
Insurance |
| Use Case |
Risk Modeling for Insurers in a Rising Rate Environment |
| Technology |
SAS, Risk Modeling Algorithms, Stress Testing Tools, Historical Data Analytics, Financial Reporting Systems, Reinsurance Software, Asset Management Platforms |
| Region |
NA |
| Team lead |
@alinahasan7890 |
| Team members |
@skanduri24 @Sanj_alaham @Vishista_Vupp |
| Social media handles |
*all team members' social media links here* |
| Is your team interested in participating in an interview? |
yes |
| Optional: Expand on your technology expertise |
|
Detailed review
Problem: When interest rates go up, insurance companies face higher costs to borrow money and increased risks, especially for their long-term financial commitments. Insurers need to change how they assess risk to avoid big losses.
Solution: Using SAS software, we intend to create a risk model that helps predict how rising interest rates will affect an insurance company's finances. This includes looking at the value of the money they owe (liabilities), the reserves they keep, and their overall financial health. The model will also include tests to see how the company would handle different levels of rising interest rates.
Data Used: Historical interest rate trends, insurance company financial reports (balance sheets), data on liabilities, and reserve amounts.
What to Explore: We can look into ways insurance companies can reduce risk by buying reinsurance (insurance for insurers), diversifying their investments, and managing their liabilities. The model will also look at how ongoing rate increases might affect the company’s long-term obligations.
