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Insurance and Reinsurance Services
RMS consulting services for insurers and reinsurers
address the full range of catastrophe risk management applications,
from baseline risk assessment to risk transfer and portfolio management
strategy. Our services are designed to answer questions faced by
companies that underwrite and manage property and casualty catastrophe risk.
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What are my exposures, and what risk is associated
with the portfolio?
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What are the key drivers of risk by business
unit, peril, geographic region, cedant, or account?
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Is my data quality adequate and how can the
data be improved?
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What patterns of take-up can be leveraged
into a more attractive book of business?
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What are the costs and benefits of risk transfer
and risk finance alternatives, such as traditional reinsurance,
retrocessional protection, or securitization?
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What is the risk profile of a potential acquisition
and how can I minimize any resulting risk concentrations?
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Examples of our consulting services include:
Property and Casualty Risk Assessment
At the core of our insurance and reinsurance
services is our ability to help clients quantify their risk. Risk
assessment analyses leverage RMS' global capability to provide a
comprehensive look at a company's exposure and potential losses due
to catastrophes. RMS works with all types of exposure data, ranging
from address-specific to premium-based information, all of which can
be enhanced or supplemented with information from RMS databases.
Risk assessment analyses address the full range of lines exposed to
catastrophe risk, from property to workers compensation, and a full
range of reinsurance programs (facultative, proportional, per risk
excess of loss, and catastrophe reinsurance).
Peer Group and Industry Benchmarking
RMS benchmarking studies combine company-specific
analysis with RMS industry exposure databases and loss estimates
to help clients understand their risk relative to peer companies
or the industry. RMS works with each client to understand key management
issues and customize the benchmarking report to address those concerns.
Portfolio Distribution and Optimization
This analysis uses an optimization or constrained
maximization/minimization process to create an ideal ‘target’ portfolio
from a property catastrophe perspective. By applying RMS technology
and portfolio management strategy, RMS helps clients design action
plans to increase premiums while maintaining Probable Maximum Loss
(PML) levels, improve overall profitability, and define a road map
to optimally deploy capital into new markets and products.
Underwriting and Risk Selection
RMS helps clients develop and implement strategies
to ensure new risks are adequately priced and structured, and meet
risk management standards. This can range from underwriting guidelines
and pricing tools for commercial insurers, to the filing of rates
and loss costs for personal lines writers. RMS loss cost analyses
have been successfully implemented for DOI rate filings in multiple
states.
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