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Insurance Solutions

Formerly Moody’s RMS

June 2023 is a significant month for Moody’s RMS Intelligent Risk Platform™ a revolutionary risk analytics solution, as we celebrate the platform’s third anniversary with the honor of being awarded the prestigious InsuranceERM Americas ‘Catastrophe Modelling Solution of the Year’ award.

InsuranceERM Americas Catastrophe Modelling Solution of the Year Award

We are absolutely delighted to receive this accolade and thank the award’s judges for recognizing our platform's industry-leading innovations and its positive reception among our enthusiastic client base.

For over 30 years, Moody’s RMS has been dedicated to delivering continuous innovation for our clients, offering unmatched analytics and scientific rigor incorporated into over 400 catastrophe risk models, together with risk data, and associated applications.

The Moody’s RMS Intelligent Risk Platform continues our passion for innovation as it looks to tackle the complexities of risk analytics and modeling, to seamlessly integrate required capabilities in a unique way.

Purposely designed for insurers, reinsurers, brokers, managing general agents (MGAs), cover holders, and insurance-linked securities (ILS) funds, the platform offers a comprehensive risk analytics solution.

And the platform is certainly not limited to catastrophe risk, it looks to cater to all types of risks.

It has already gone beyond the integration of Moody’s RMS modeling capabilities by incorporating third-party modeling capabilities, and at our recent Exceedance 2023 conference in New York, we showcased how the Intelligent Risk Platform will seamlessly incorporate both third-party models and our customer’s custom models.

From the outset, the Intelligent Risk Platform has been built upon three fundamental principles: open, modular, and unified. It is worth delving into these principles in more detail:

  • Open Platform: The Intelligent Risk Platform is built to ensure that data is not locked away, as the platform remains open with REST APIs and SQL Access, to facilitate seamless integration into their existing systems.
  • Modular Platform: Unlike other platforms that demand an ‘all-or-nothing’ commitment, the Intelligent Risk Platform provides the flexibility for customers to select and integrate specific components into their risk modeling, underwriting, and exposure management workflows.
  • Unified Platform: Traditional systems often suffer from ‘data islands’ and isolated applications that hinder collaboration and communication. In contrast, the Intelligent Risk Platform unifies models, data, and analytics into one cohesive system.

Why is the Intelligent Risk Platform an Important Innovation for the Industry?

A major issue that our clients struggle with when attempting to get risk insights is that their data is locked in siloes. They spend their energy translating and transforming data between these siloed systems.

New insights cannot be discovered without analytics on top of unified and enriched datasets. Our customers also grapple with delivering their insights to the right users at the right time, to turn insights into actions and outcomes for their businesses.

Moody's RMS Intelligent Risk Platform
Moody's RMS Intelligent Risk Platform

But with the Intelligent Risk Platform, we have a platform that is specifically designed to remove these frictions, with integrated data, models, services, and applications that take full advantage of the cloud:

  • Models: With unmatched scientific rigor driving our models, the platform unifies all Moody’s RMS models into a unified and easy-to-use experience which will soon bring additional custom models and third-party models onto the platform.
  • Data: The platform also places our rich Moody’s RMS datasets right next to our risk models. With some of our own top ‘chefs’ that can cook the best datasets on the planet for easy access to our IP, we will also be integrating additional data sets from partners that can help get richer risk insights.
  • Risk Data Lake: The platform also comes with a unified data store called the Risk Data Lake. This is a repository designed specifically for risk data with a well-defined risk schema, risk data formatting and conversion capabilities, risk microservices, and built-in risk data. In the future, the platform will be combined with programmable analytics using R, Python, Scale, and SQL through the platform’s Notebook interface.
  • Risk Microservices: The platform comes with powerful risk analytics services. These are built-in functions/APIs that help our customers perform high-performance portfolio and account modeling, accumulation, marginal impact, clash calculations, and so on.  
  • Risk Analytics Applications: Instead of monolithic applications that are rigid and disconnected, the platform comes with an integrated suite of applications that are designed to simplify life for our clients and to support critical roles in their enterprise such as their risk analysts, exposure managers, treaty or primary underwriters. 

We are excited with how far the Intelligent Risk Platform has developed over the last three years and for the future of a platform that is designed for the long haul, with the flexibility and agility to adapt to whatever comes next in the risk landscape.

I would like to thank the InsuranceERM Americas awards judges for this recognition, and we are humbled and honored to see the appreciation from our customers, partners, and with this award, from InsuranceERM.

You can find more about the platform here, reach out to your Moody's RMS representative or contact us at info@rms.com.

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Cihan Biyikoglu
Cihan Biyikoglu
Managing Director - Head of Product for Moody's RMS

Cihan Biyikoglu is the Managing Director - Head of Product for Moody's RMS, responsible for product management across the full suite of Moody's RMS models and risk management tools. He has extensive experience in leading product management for innovative machine learning and big data analytics solutions at Fortune 500 companies over the last 20 years.

As a former Vice President of Product at Databricks and Redis Labs, Cihan developed the product strategy and road map for open-source technologies such as Apache Spark and Redis and respective enterprise offerings in the public and private cloud platforms.

Cihan also worked on products at Microsoft, Couchbase, and Twitter, where he focused on on-premises and cloud offerings in the data and analytics space. At Microsoft, Cihan focused on the incubation of the Azure Cloud Platform in its early days and the SQL Server product line, both of which have grown into multi-billion-dollar businesses for Microsoft.

Cihan holds several patents in the data management and analytics space, and he has a master’s degree in database systems and a bachelor’s degree in computer engineering.

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