Compare ModelRisk и RS Edge

Benefits:

Wide range of pdfs available, integration and aggregation functions are very useful for insurers. Good graphics, and interoperability especially ab... Read more

Wide range of pdfs available, integration and aggregation functions are very useful for insurers. Good graphics, and interoperability especially ability to import data and export results.

Drawbacks:

Can be tricky to use, and a lot of prior knowledge is assumed regarding topics such as "objects" and "functions" - should be friendlier for users w... Read more

Can be tricky to use, and a lot of prior knowledge is assumed regarding topics such as "objects" and "functions" - should be friendlier for users who do not have a background in software development. It would be good to see some additional functions; numerical differentiation, better interpolation utilities, and the ability to "fit" PERT and ModPERT distributions which would be useful for actuaries even if mathematically unusual. There are bugs in the Copula reporting utilities.

Summary:

Statistical analysis and excellent support for developing models for analysing uncertainty; actuarial experience analysis, project decision analysi... Read more

Statistical analysis and excellent support for developing models for analysing uncertainty; actuarial experience analysis, project decision analysis, capital management, valuation and risk pricing for ourselves and for clients.

Benefits:

Excel plugin. Integrates well with Excel. The GUI is excellent. Most of the functions are very intuitive. The automated distribution fitting is ver... Read more

Excel plugin. Integrates well with Excel. The GUI is excellent. Most of the functions are very intuitive. The automated distribution fitting is very useful. Employs copula correlations which are more advanced than correlation matrices. Employs nice reporting functions which can display both input and output data and graphics as well as input/output tornado, scatter and spider plots. Has good built in report export.

Drawbacks:

Support is technically good, but support response is spotty. Modelrisk locks up occasionally, but that could be my configuration, i.e. I have a lot... Read more

Support is technically good, but support response is spotty. Modelrisk locks up occasionally, but that could be my configuration, i.e. I have a lot of other plugins as well as other things running in the background.

Summary:

Modelrisk provides a good framework for performing complex simulations without requiring manual coding. I use it primarily for modeling weather der... Read more

Modelrisk provides a good framework for performing complex simulations without requiring manual coding. I use it primarily for modeling weather derivatives and am satisfied with capabilities.

Benefits:

The software is very helpful and easy to use for a variety of models. I used it for DCF risk valuation.

Drawbacks:

My only dissatisfaction is the lack of Mac OS compatibility, so I had to run a VM for Win which is sub-optimal.

Summary:

Benefits:

Great overviews of input and output pdfs and sensitivity analyses ( spider plot). Some product and other complex functions explained well and easy ... Read more

Great overviews of input and output pdfs and sensitivity analyses ( spider plot). Some product and other complex functions explained well and easy to use.

Drawbacks:

You have to type Vose everytime you want to use a function. Customer service is great and a genius as well as a good teacher. But I don't want to... Read more

You have to type Vose everytime you want to use a function. Customer service is great and a genius as well as a good teacher. But I don't want to think of him all the time :-)

Summary:

Better models that are easy to desing