Single, on-demand view of risk
Reduced processing times from hours to minutes
Ability to scale up during peak renewal times
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.
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 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.
Identify suitable risks, implement refined underwriting guidelines, manage exposure accumulations, and design profitable growth strategies related to flood risk.Read More
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Access broad-scale, well-validated views of flood risk to gain necessary insights into the range of commercial opportunities associated with various flood markets.Read More