Tokio Marine & Nichido Fire Insurance to Share Knowledge, Data, and Expertise
Newark, Calif. -
July 17, 2012 -
Today Risk Management Solutions (RMS) and Tokio Marine & Nichido Fire Insurance (TM) announced a long-term collaboration intended to enable the companies to share knowledge and information relevant to Japan earthquake and typhoon risk in order to enhance the development of catastrophe risk models in the Japan market.
"Through this partnership, RMS will enable TM to utilize our information and knowledge to build a resilient risk management strategy, enhance their own view of risk and strengthen the accountability in relation to upcoming Japanese Solvency," said Craig Van Anne, CEO of RMS Japan, RMS's subsidiary in Japan. "Tokio Marine possesses a great deal of data, business knowledge, and insight pertaining to insurance products and claim setting in the Japan market that can help RMS enhance our models."
This collaboration will enhance natural catastrophe risk analysis in Japan, and will be potentially valuable to additional non-life or life insurers, as well as FSA, rating agency, auditors, and risk managers who quantify risk in the region.
RMS models and software help financial institutions and public agencies evaluate and manage catastrophe risks throughout the world, promoting resilient societies and a sustainable global economy.