A European company has updated a product that can help financial services companies analyze risk.

Vose Software BVBA, Ghent, Belgium, says the product, the ModelRisk 3.0, offers Monte Carlo simulation tools, other types of advanced risk analysis tools, and visual presentation tools in an Excel environment.

The product supports time series modeling; statistical fitting of time series, distributions and correlation structures; and extreme value modeling.

The product comes with a specialist module for the insurance and finance industries.