Leading P&C Insurer | RMS

Single, on-demand view of risk

Reduced processing times from hours to minutes

Ability to scale up during peak renewal times

The Challenge: Improve Risk Selection and Reduce Catastrophe Claims

To stay competitive in an industry that is being disrupted, one of North America’s largest property and casualty insurers needed an innovative risk modeling solution to improve its underwriting process. The goal was to select better risks and reduce losses for flood, windstorm, and earthquake. It was essential to ensure minimal disruption and simply enhance risk insights at the point of underwriting decision-making.

The Solution: RMS Risk Modeler for Cloud, Models, and Services

After carefully considering solutions from various catastrophe risk analytics providers, the company felt confident RMS was the right choice for cloud, models, and services. It selected Risk Modeler™ to access, evaluate, compare, and deploy all RMS catastrophe models – including RiskLink® and RMS High Definition Models™ – using a single modeling application.

The Outcome: Complete On-Demand View of Risk at the Point of Underwriting, Facilitating Better-Informed Decisions, and More Balanced Books of Business

The carrier now has a complete view of risk across natural catastrophes with side-by-side model versions in one application. This created a complete on-demand view of risk at the point of underwriting, facilitating better-informed decisions and more balanced books of business.

Key Results:

Single, on-demand view of risk.
Future-proofed architecture for cat modeling.
Ability to scale up during peak renewal times.
Rapid onboarding of risk analysts and cat modelers.
Future Proofed Architecture
Integrated 95 percent of workflows into the platform in the first quarter of use
Better-informed decisions and more balanced books of business.

U.S. Flood

Identify suitable risks, implement refined underwriting guidelines, manage exposure accumulations, and design profitable growth strategies related to flood risk.

Risk Modeler

Leverage structure-based modeling and analytical tools, including intelligent model processing and big data query capabilities.

Risk Intelligence

RMS Risk Intelligence™ is an unified risk analytics platform purpose-built for the needs of the global risk landscape

Flood

Access broad-scale, well-validated views of flood risk to gain necessary insights into the range of commercial opportunities associated with various flood markets.

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Leading P&C Insurer Integrates Insights for Better Exposure Management

How RMS Risk Modeler gave a top-15 U.S. P&C insurer the real-time insight to underwrite more profitably.