RMS today unveiled RMS(one)™, the company's resilient, real-time exposure and risk management environment purpose-built for insurance companies to manage all of their risk models, exposures and analytics on a single, open platform.
RMS is collaborating with clients to ensure the RMS(one) environment delivers the industry's most powerful models and modeling capabilities so they can realize the business benefits of a truly resilient and real-time enterprise.
"As a business, Catlin is constantly seeking ways to harness more intricate analytics, access more complete views and gain deeper insight into the risks we write," said Paul Martin, group chief risk officer at Catlin. "Enhancing this understanding of our risk profile and future opportunities supports our key strategic imperatives of profitable underwriting, diversifying growth and preserving capital, which are at the heart of our operations. We're excited to be working with RMS in the Early Access Program to explore an innovative new environment to gain these insights, which will help us build a business for the future."
"RMS(one) is the whole expression of who we are, as RMS and is the embodiment of the mission we have had since we founded the company almost 25 years ago," said Hemant Shah, co-founder and CEO of RMS. "Only RMS(one) can give companies unprecedented access to our new category standard of high definition models in an open environment with visibility into and control over modeling assumptions. For the first time in the insurance industry, companies will have the freedom and flexibility to access a wider range of modeling capabilities from RMS, their own modelers and from the modelers of others across the ecosystem. RMS(one) will dramatically crush latency from months to minutes, which will streamline a company's modeling, underwriting and portfolio management processes which will transform their agility and responsiveness in an increasingly dynamic and competitive market."
Using purpose-built technology, RMS(one) will provide intuitive, enterprise-wide access to real-time risk intelligence, enabling decision-makers at every level of the organization - from risk analysts to the CEO – the opportunity to ask questions and get answers in real time. The data will be available on-demand on a range of mobile devices, with risk metrics specifically tailored to each user’s needs.
This functionality is made possible by a proprietary analytical operating system (RMS AoS™) and a runtime environment built for the global insurance industry, the RMS Cloud™. RMS AoS enables real-time interrogation of customers’ large-scale exposure and model results. The RMS Cloud provides the reliable big compute and big data infrastructure in a manner that preserves privacy and secure segregation of customer data. This is all done on a single transparent, flexible platform in an efficient, secure and auditable way.
RMS unveiled RMS(one), which will be generally available in Spring 2014, to more than 900 industry professionals attending Exceedance 2013, the RMS client conference, in Boston.
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.