The Opportunity
Risk modeling has made remarkable progress in the last two decades. While no model can ever fully represent the dynamic nature and complexity of the real world, today's models are highly sophisticated tools that provide a wealth of understanding and insight. And yet, we could do so much more.
Critical advances in analytic and technical computing in recent years now make it possible to push beyond the conventional limitations of modeling—but only if we take a fundamental step forward together. Informed by the rapidly evolving needs of customers and inspired by the transformative power of these new technologies, RMS has made the commitment to risk the status quo and lead a next generation revolution in risk modeling and risk management practice.
Enabled by next generation computing technology, tomorrow's models will be faster, more complete, and dramatically easier to run, adapt, and interpret. Supported by a new RMS platform, they'll be open and available in the cloud, and fully integrated in business operations to enable truly informed business decisions based on risk exposure analysis in real time. Beyond improved and more efficient risk quantification, tomorrow's solutions will deliver risk intelligence with the power to improve business performance.
The Advantages
More time interpreting results, less time operating the machine
Today's models are complex and weighty. They tax in-house IT capacities and tie down valuable resources better used to analyze results and gain a more nuanced understanding of what those results mean, including the uncertainties and sensitivities.
The RMS platform will liberate businesses from the model execution treadmill. By being data efficient, fast as real life, open to the best, and in the cloud, customers will realize significant improvements in data management, automation, and operating efficiencies so more time and resources can be engaged in creating risk intelligence and disseminating insight.
Make today's decisions based on today's risk
Through the RMS platform, modeling and risk information will no longer be a separate silo and will be efficiently embedded in the underwriting, portfolio and data management workflow. Businesses will monitor their portfolios dynamically and in real time, not based on data that is weeks or months old. Eliminating this lag in information will enable more efficient management of business capital and capacity and make modeling and risk management an integral and auditable part of the core business process.
In a thriving risk ecosystem, let a thousand modelers bloom
Every major catastrophe reveals how much we still have to learn about risk. No single group of modelers, no matter how well resourced, can provide all the insights for such a vast and uncertain environment as the world we live in. Even in developed markets where more established models already exist, there remains room for more nuanced understanding of risk. Meeting today's challenges requires the insight and expertise of the entire risk modeling community, including those within your own enterprise.
The new platform will catalyze a more open ecosystem for models and applications. From catastrophe models to underwriting models, it will support our applications, your applications, and even others' applications—all within one integrated environment that can be managed in one integrated workflow.
Supercomputing in the cloud
We realize that no single technology, even one as significant as cloud-based computing, offers a silver bullet. Some may not be able to take advantage of the cloud and for those who cannot, RMS will explore alternatives. For those that are, RMS is committed to delivering a solution with the scale and capacity to help businesses realize the potentially profound benefits of this new paradigm for computing. From more nimble releases from us to more cost-effective solutions for you, across an ecosystem of capability, the benefits of the RMS platform delivered in the cloud will be evident across the market.
The Future
Revolution, not evolution
Can we deliver a risk management solution that leverages the power of today's leading-edge technology to deliver a risk management platform, open and in the cloud, that helps you take your business to the next level?
After two years of intensive research and development, we're now at the critical point in an important journey. A shift of this significance will require your help, and determination and innovation from all of us. Over twenty years ago, RMS was founded on the idea that knowledge is power and that bold innovation can change an established status quo for the betterment of us all. We can't do it alone, but together we can move an entire industry forward.