It has been a year since I took to the (virtual) stage at Exceedance® 2020 to explain our commitment to support all customers’ access to RMS® models, both on-premises and in our cloud platform Risk Intelligence™. Version 21 (V21), our major annual release for RMS RiskLink® and RiskBrowser®, includes updates to the RMS North Atlantic Hurricane Models and the general availability of the new RMS® China Inland Flood Model. In addition, V21 will include several platform updates to industry exposure databases for multiple models, improved geocoding and hazard data, and other software enhancements.
Version 21 models and data products will be released simultaneously for the RiskLink and RiskBrowser software, for both on-premises and hosted clients, and will be available with the Risk Modeler™ application on our cloud platform, Risk Intelligence. Version 21 will be generally available on June 23, 2021. There is a lot to talk about in this new release, so I will touch on the main highlights.
New China Inland Flood Model: Available in June
With the addition of the China Inland Flood Model, RMS is the first and only model vendor to offer peril models for the three main cat risks – earthquake, typhoon, and inland flood – in China (including Hong Kong and Macau).
Updates to North Atlantic Hurricane Models: Available in Late June
Version 21 offers new updates to the long-term event rates (LTR) and the medium-term rates (MTR) for the North Atlantic Hurricane Models. Events from recent hurricane seasons are incorporated, as well as enhancements to the RMS reference view of vulnerability. In addition, there’s a new, alternative view of Florida residential vulnerability that reflects building code changes and other recent claims signals. Together with updates to geocoding, industry exposure databases (IED), and industry loss curves (ILC), V21 is a comprehensive new release.
Version 21 Software Updates
In Version 21, RMS has significantly increased our U.S. building level coverage from the previous release. With over 30 times as many building footprint address points, V21’s precision and accuracy for key hurricane states (Florida, Texas, and Louisiana) has been refined using various sources to offer a high level of confidence for your geocoding. All other key resolutions – parcel, street networks, and zip-code level data – have also been updated for all 50 states providing key backfill information or coarser-level geocoding ideal for aggregation purposes.
As with the U.S., Canada and China have also received a full geocoding update for all available resolutions, with a newer vintage providing increased certainty for your modeled results. These changes are in addition to many other geocoding improvements within the V21 release.
New and Improved Upgrade Experience and Deployment Options
Our clients now have multiple options available when upgrading to V21. On-premises users will be able to download the new version, while users of the Risk Modeler app will be able to directly access V21, without having to separately install the new release.
With V21, RMS clients can also migrate all their RiskLink models and data products to the Risk Modeler app on Risk Intelligence. RiskLink models will produce the same outputs whether clients deploy on-premises or in the cloud. However, clients using the Risk Modeler app will benefit from simpler version upgrades, faster model performance, and a better total cost of ownership.
General Availability in Late June
For all RMS model users, we look forward to sharing the new Version 21 release in late June. In the meantime, please join us at the upcoming all-virtual Exceedance conference (May 4-6) as we explain more about the V21 release and provide a wealth of new innovations to help your business outperform. Register for Exceedance.