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Insurance Solutions

Formerly Moody’s RMS

The democratizion of risk data is a core mission for RMS; to provide relevant, timely risk insight to everyone who needs it, designed for every role in the business, from those on the frontline of underwriting, through to those responsible for the entire portfolio. Delivered through simple, elegant applications, by ensuring relevant data gets to every area of a business you can build empowered teams that can take effective decisions.

SiteIQ is a great example of this data democratization in action. This application pulls property results from RMS catastrophe models – and supported by qualified third-party data such as crime scores and fire protection measures, it provides an understanding of which hazards are applicable for each location at the point of risk-selection. Risk scores from one to ten, red-amber-green referral advice, high resolution hazard maps, and loss cost data – is all delivered in seconds.

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Whether it is a single look-up or an uploaded portfolio of locations, the user is empowered to make risk selection decisions, using their own judgement or guided by referral rules that match an organization’s underwriting guidelines. Making the right decision at this point of risk-selection, that reflects the wider requirements of the business, is fundamental to avoiding unprofitable business and building a strong portfolio.

Launched in June, SiteIQ has been designed to allow users to assess property risks at the touch of a button, and to make it easy to identify properties that meet their risk strategy. What has delighted clients is the simplicity of the application, you are up and running in seconds. This software-as-a-service (SaaS) product also allows for the release of new features to clients on a more timely basis, and already a recent release has made property risk assessment even easier.

Get to Your Location Faster: In our everyday lives, we are used to applications that autocomplete, or pre-search and provide suggestions to help us get to the answers we want faster. SiteIQ now uses the Google Places API so you can input locations the same as you would in a search engine, e.g. when you know the name of the building, such as the “Rockefeller Center” but not the address. Users can also check the location on Google Street View for a visual verification. But what makes this more powerful, is the use of the global RMS Geocoder to geocode the addresses ensuring consistency between SiteIQ and the probabilisitic models.

More Hazard, Risk Scores and Loss Cost Data: SiteIQ makes it easier to get rapid insight on the locations you need to cover, as the range of hazards continues to increase in our latest release, to now include: U.S. Flood, U.S. and Canada Windstorm, U.S. and Canada Severe Convective Storm, Europe Earthquake, Europe Windstorm and Europe Flood as well as hazard assessment using the RMS U.S. Wildfire HD Model.

The best way to discover SiteIQ is see it in person. Whether you are a coverholder, managing agent, a commercial underwriter, or even from outside of the insurance industry but need risk insight for loan or mortgage approvals for instance, you are welcome to see a demo of SiteIQ for yourself and see how it can work for your business.

Contact sales@rms.com and we will arrange a demonstration.

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Shaheen Razzaq
Shaheen Razzaq
Senior Director, Product Management, Moody's

Shaheen has over a decade of experience delivering risk management solutions to insurance and reinsurance companies. As a Senior Director within Product Management at Moody's, he is responsible for introducing new, innovative applications to the market.

Before joining Moody's, Shaheen was Risk Aggregations Business Unit Manager at Room Solutions Ltd. and led a department that designed and developed Exact Advantage, a popular, next-generation offshore energy risk aggregation tool. At Room Solutions Ltd, he then managed a global development team that built and successfully implemented several contract and exposure management solutions for large European commercial insurance organizations.

As a regular speaker at industry events, Shaheen often gives presentations about the business value technology delivers to organizations that manage catastrophe and non-catastrophe risk.

Shaheen holds a master’s in business and information technology from Kingston Business School.

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