RMS Develops a Market Solution for NMB’s Risk Modeling Needs
RMS and Newman Martin and Buchan LLP (NMB), an independent Lloyd's broker, have entered into a long-term partnership for catastrophe modeling and data analytics. The outsourced model, jointly developed by RMS and NMB, enables NMB to provide an enhanced service offering to its clients, while competing for business in a competitive market. NMB will leverage RMS' analytical and data services in a flexible, commercial model that grants them access to RMS’ global modeling suite. As a result, this will allow NMB to acquire the expertise and capability needed in today's market, while maintaining efficiency in its cost base.
"RMS modeling is an incredibly important and progressive step forward for our business, creating tangible benefits for our clients and impacting the markets we operate in," said Chris Bonard, MD at NMB Specialty. "By working closely with RMS, we have been able to acquire a solution that will significantly enhance our service offering, adding value to our existing client relationships, and helping us to stand out against the competition. RMS’ commitment and energy to finding the correct solution for NMB, within a structure that aligns with our present and projected business profile has been extremely important."
"The relationship between NMB and RMS is evidence of our commitment to finding powerful solutions to meet our client's needs," said Steve Hurcom, vice president and head of European client development at RMS. "Every client is unique, and RMS works to develop solutions to their risk modeling challenges that add tangible benefits, rather than unnecessary cost. RMS is pleased to be working with such a forward-thinking broker and we look forward to supporting NMB in achieving its objectives."
NMB is an independent Lloyd's insurance and reinsurance broker founded in 1987 and located in the City of London. It specialises in the property, energy and marine sectors, placing large and complex risks into the Lloyd’s, London and international (re)insurance markets. It has a worldwide client base with the United States being the largest region of production. www.nmbinsurance.com
About RMS
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.