logo image
Loss Costs

The Cutting Edge of Data-Driven Underwriting

RMS Loss Costs are distilled from terabytes of catastrophe simulation data, enabling real-time, ultra-high-resolution insight. The RMS Location Intelligence API can provide this insight quickly, accurately, and with minimal technical overhead. Simply send an address or coordinates with optional details on building attributes and the API returns a loss cost. Full documentation is available to support the scientific assumptions underlying each metric, and API-based implementation is frictionless, simple, and fast.

loss-cost

Benefits

Avoid Mispricing

Pricing is a mission-critical part of insurer operations. Getting it wrong can be disastrous. Cat pricing is even more difficult due to a lack of historical claims. By using the best cat analytics at the point of underwriting, you can avoid this problem. RMS loss cost data delivers that insight.

Streamline Automation

The RMS Location Intelligence API pre-compiles big data simulations so you can have them at your fingertips. This allows users to access industry-leading model science in real time to help underwrite and price risks accurately.

Account for Vulnerability

Today, too many risk selection and pricing metrics are based on hazard-only scores. The problem is, vulnerability matters: Brick houses perform well in fires but poorly in earthquakes. RMS Loss Costs, calibrated on billions of dollars of claims, are vulnerability-specific to meet this need.

Increase Transparency

Don’t rely on black-box data for your pricing needs. RMS Loss Costs are provided for structure, contents, and business interruption – with full documentation on the upstream simulations that created them.

Available Perils

  • Earthquake
  • Flood
  • Hail
  • Storm Surge
  • Terrorism
  • Tornado
  • Wildfire
  • Wind
  • Winterstorm

Deductible Support

Need to provide multiple deductible options? Use our fast API to get the deductible-adjusted results in milliseconds.

Related Products

SiteIQ
SiteIQ

Assess a location’s risk to multiple perils and key third-party insights in seconds with this application.

location-intelligence
Location Intelligence API

Gain better underwriting perspective with instant access to the world’s best catastrophe insights.

Resources

underwriting

Underwriting With 20/20 Vision

Risk data delivered to underwriting platforms via application programming interfaces (API) is bringing granular exposure information and model insights to high-volume risks

RMS Data for Underwriting

RMS Data for Underwriting

Instant peril insights on every submission

Contact Us

Learn More With a Demo

close button
Video Title

Thank You

You’ll be contacted by an RMS specialist shortly.

RMS.com uses cookies to improve your experience and analyze site usage. Read Cookie Policy or click I understand.

close