NEWARK, Calif. - October 23, 2014 According to a new report by RMS, the world’s leading catastrophe risk management firm, the Ebola virus disease outbreak in West Africa has the potential to be the most deadly infectious disease event since the 1918 flu pandemic.
The current outbreak will continue to worsen while the deployment of resources is ramped up to meet the caseload. According to RMS modeling, until a tipping point is reached where the number of new daily cases declines rather than increases, the severity of the outbreak will continue to multiply, with the total number of new cases approximately doubling each month.
“Controlling the spread of this Ebola outbreak is more a question of logistics than virology,” said Dominic Smith, pandemic risk expert and senior manager of LifeRisks at RMS. “The fight against the Ebola epidemic is a race against a moving target; more resources are required as the number of cases increases.”
RMS modeling suggests that, based on current response efforts, the tipping point will not be reached until January 2015. Modeling further reveals a 55 percent chance that by the end of November, at least 1,000 new cases of Ebola will develop daily, and as many as 1,400 per day in a worst-case scenario. There have been more than 9,000 cases reported in total to date.
Adding to the devastation of the Ebola outbreak, overwhelmed medical systems in West Africa have less resources to respond to other diseases and the mortality rate of malaria and yellow fever is on the rise. Malaria deaths are likely to continue rising as the seasonal height of malaria transmission is reached next month.
RMS modeled the future paths of cases and deaths from the Ebola virus in Sierra Leone, Guinea and Liberia, which were combined with a probabilistic assessment of various international medical and military response scenarios to estimate the timing of the tipping point where cases are controlled such that the disease tapers off.
If effective resources are deployed at a rate that outstrips the pace of increase in new cases, a tipping point can be reached where the number of new daily cases reaches a maximum, allowing response measures to kick in and prevent new infections at a rate that causes the epidemic to subside.
“The way to stop this outbreak is simple in principle and has been demonstrated in Nigeria and in specific cities in the affected region: reduce contacts with infected people by more than half,” said Smith. “The scale and pace of the international response will define how long it takes to reach the tipping point.”
The U.S. Centers for Disease Control and Prevention (CDC) estimates that, even in the absence of treatments and vaccines, the epidemic would be brought under control and eventually come to an end if approximately 70 to 75 percent of cases are in medical care or treatment units, or in environments where there is a reduced risk of disease transmission.
In a realistic scenario based on current response efforts, RMS analysis projects the tipping point will be reached at the end of January 2015, with the outbreak subsiding by June 2015.
When modeling a disease, RMS first looks at the reported virulence and the transmissibility of the pathogen responsible for causing Ebola. This virus is extremely deadly, with an estimated case fatality rate of 69 to 73 percent. This range of estimates for transmissibility, as measured by R0, is between 1.5 and 2.2, which means on average an infected individual will transmit the virus to approximately two other people in a susceptible population.
RMS then takes into account mitigating criteria, including medical and non-medical interventions. In its modeling, RMS evaluated the current response resources in place in impacted countries, further resources already pledged and a range of estimates of potential additional resources that will be deployed. For each country, RMS used these factors to formulate five scenarios, ranging from very optimistic to very pessimistic, and their associated probabilities.
The number of beds for Ebola treatment currently in use is far below what is needed to reverse the outbreak in any of the three effected countries. To reach the tipping point sooner, faster ramp up of mitigating efforts is essential, but subsequently, fewer total beds and resources in general will be required.
For example, in order to reach the tipping point in Sierra Leone, the current number of beds in use needs to be approximately tripled by the end of November to halt the outbreak with the smallest total number of cases and at the lowest overall cost. If that fails, the number will need to increase to six times today’s number by the end of December to halt the outbreak.
A large degree of reliance will be placed on beds being rolled out in Ebola treatment centers (ETCs), which cost $5.7 million to set up and run a fifty-bed center for one month. Ebola community care units (ECUs) staffed by rapidly trained non-experts rather than medical workers are being set up in some areas, but there is larger uncertainty surrounding their effectiveness.
Treatments might help reduce the case fatality rate, but are very unlikely to have a significant role in halting the spread of the Ebola epidemic. An Ebola vaccine might be available in time to shorten the epidemic, but will not be produced in sufficient quantities to have an active role in halting the spread of the epidemic in the next few months.
RMS does not expect this outbreak of Ebola to become a significant mortality threat in other parts of the world. It is possible that it could spread to neighboring countries in West Africa. This risk can be reduced by appropriate screening of people leaving the impacted region and could be contained with rapid implementation of effective control measures.
In the situation where there are potentially 10,000 new cases per week in West Africa, there will be more cases exported into other countries. This is possible via two routes:
RMS will be updating the model with new numbers every few weeks, projecting the course of the event in near real-time.
Newark, Calif. – May 7, 2021 – At its annual Exceedance conference this week, RMS, the world’s leading catastrophe risk solutions company, demonstrated the benefits (re)insurance customers are experiencing by moving to RMS Risk Modeler™, the cloud-based risk modeling application running on the RMS open cloud platform, Risk Intelligence™. Risk Modeler, a next-generation cloud-based modeling application, is designed to meet the complex needs of risk analysts and cat modelers at scale. Risk Modeler enables real-time risk analytics and unified, high-performance execution of RiskLink models and High-Definition (HD) simulation models. Designed with a deep understanding of customer requirements and leveraging the latest technological innovations, Risk Modeler easily integrates with other on-premise applications as well as other cloud applications through open APIs and export services, giving customers greater flexibility and choice. This week at Exceedance, the industry has heard from RMS customers about the advantages they are gaining by adopting Risk Modeler to help manage their risk portfolios. Gallagher Re, Price Forbes & Partners Ltd, and Unipol spoke during the conference keynotes about their experiences with Risk Modeler to date. Howden Group also shared their insights on the benefits of Risk Modeler. Neil Bramley, analytics executive, Gallagher Re, “Gallagher was keen to take advantage of the SaaS Solution, pushing the technology harder and faster, leveraging the benefits and scale of secure cloud computing to ultimately create tangible advantage and upsides for our clients. Risk Modeler helped us grow our analytical capability tremendously and our usage stats are through the roof compared to last year, with the added benefit of zero downtime whenever our divisions are looking to access new functionality and solutions.” Gian Luca De Marchi, group chief risk officer, Unipol Gruppo S.p.A., “Risk modeling through the Risk Modeler application allows us to run portfolio analyses and to support risk management assessments for risk profiling, risk monitoring, capital allocation, and optimal risk transfer. Now, the RMS models could help us in moving to an internal model, reducing the gap between economic capital and regulatory capital, and provide robust support in meeting regulatory requirements in particular in relation to stress tests.” David Flandro, managing director, Head of HX Analytics, Howden Group, “Risk Modeler together with RMS’s trusted science is an important part of our analytics ecosystem that helps Howden provide a differentiated service to our clients and partners. The SaaS delivery and API-based development framework is well positioned to help service our digital-first vision with distinction.” Alexander Hanks, executive director, head of actuarial & analytics, Price Forbes & Partners Ltd, “We worked with RMS as early adopters, making full use of Risk Modeler’s API first development approach to fully integrate modeling with our own cloud tools, switching off RiskLink and RiskBrowser in the process. Gone are the days of manually working with spreadsheets, copying and pasting and relying on manually re-running modeling of jobs. The automation work has taken manual time-consuming tasks away and we're able to spend much more time on interpreting modeling results and providing deeper insights to our clients.” Speaking at the conference, RMS CEO, Karen White, said, “When RMS launched Risk Modeler 2.0 in 2020, more customers started on their cloud migration with us. We are seeing more momentum in the industry for digital first strategies. Today, insurers, reinsurers, and brokers from every major global geographic region are on the RMS platform. Leveraging leading models, technology, and the cloud to gain greater risk insights helps them to avoid surprises, confidently deploy more capital, and potentially develop new products and new business models.”
Newark, Calif. – May 6, 2021 – RMS, the world’s leading catastrophe risk modeling and solutions company, announced new innovations to ExposureIQ™ on the Risk Intelligence platform, including real-time catastrophe event visualizations and more powerful reporting. RMS also unveiled new capabilities to allow cross-portfolio accumulations across reinsurance and insurance workflows. ExposureIQ is an innovative, cloud-based exposure management application designed to help portfolio managers gain deeper insights into their books, scaling to millions of locations, enabling easy discovery of hotspots, diversification, and portfolio re-balancing. The application provides access to exposure information which leverages events and footprints from RMS Event Response and RMS’s unique HWind real-time forecasting capabilities, to help gain a quicker and more accurate assessment of potential losses before, during, and after an event. Real-time analysis and insight into portfolios allow for alignment with a company’s risk appetite, exposing threats and opportunities within their portfolio. The latest ExposureIQ release provides powerful reporting with an in-app dashboard that allows portfolio analysis across the most critical building criteria, allowing customers to understand how varying geocoding resolutions impact results as well as understanding which building occupancies and construction types are driving their losses. This advanced reporting functionality speeds up analysis and empowers portfolio managers to make faster, better-informed decisions. ExposureIQ is now the only application in the market to provide near real-time event visualization through a powerful new mapping module that integrates RMS Event Response and RMS HWind data. There’s no longer a need for customers to download and upload data to their system. Customers can now automatically access the latest event data, visualize events against exposures, and run accumulations – all within the application on a near real-time basis. At its annual Exceedance Conference, RMS demonstrated how ExposureIQ will expand on these capabilities to allow customers to run accumulations across both their insurance and reinsurance books of business. It will enable users to easily build structures that represent business hierarchies in an intuitive way. For the first time, customers will be able to run accumulations across portfolios and across cedents all in one application and leverage the RMS rich data catalog derived from our market-leading model science. Speaking at the annual RMS Exceedance conference, RMS executive vice president, product, Cihan Biyikoglu, said: “Exposure management is one of the most important aspects in terms of overall business profitability and keeping business risk appetite in check. Real-time exposure information such as wind forecasting from RMS Event Response gives customers the insights and control they need during critical points before, during, and after an event. The inclusion of cross-portfolio and cross-cedant accumulation in this release takes portfolio analytics to an unprecedented level. RMS understands the importance of making decisions based on quality data and insights. ExposureIQ brings together excellence in modeling with the flexibility, scale, and performance of the cloud to enable companies to develop a comprehensive view of their portfolio, optimize workflows, generate quality insights, and improve profitability.”
Newark, Calif. – May 5, 2021 – RMS, the world’s leading catastrophe risk modeling and solutions company, today announces new models. Speaking at the annual RMS Exceedance conference, Mohsen Rahnama Ph.D., chief risk modeling officer and executive vice president, said: “Risk is increasingly complex and connected. RMS is focused on providing the highest quality and most transparent, robust catastrophe models to the industry in this environment. With the new inland flood models and global flood hazard maps, we address an important set of regions where flood is the most important peril, and now cover 100 percent of flood premiums written worldwide. The significant update to the RMS North Atlantic Hurricane Models incorporates the latest science, and applies the learnings from 2017 onward.” Global Flood Coverage Key flood models and maps announced today at Exceedance 2021 include: A new inland flood model for China will be available in June 2021, concurrently on both RiskLink Version 21.0 and Risk Modeler, the RMS cloud platform for model execution and analytics. New inland flood models for New Zealand and Southeast Asia (Thailand, Singapore, Malaysia, and Indonesia) are available in the second half of 2021. Global flood hazard maps for over 200 countries will also be available in the second half of 2021. With this significant expansion, the RMS Global Flood Solution Suite now offers unmatched high-resolution flood model coverage and a unified approach to manage all global flood risk. These models and maps cover 100 percent of global property gross written premiums for flood. North Atlantic Hurricane Significant updates to the industry-leading North Atlantic Hurricane (NAHU) Models were also announced. The North Atlantic Hurricane Models Version 21.0 now include medium-term event rates, lessons learned from the 2017-2020 hurricane seasons, and a new alternative view of vulnerability for Florida Residential Lines. Importantly, RMS incorporated an alternative view of risk accounting for the Florida Building Code 25 percent Roof Replacement Rule, which was expanded from the High Velocity Hurricane Zone (HVHZ) to cover the entire state of Florida in the 2017 Florida Building Code. These key updates empower customers to make more informed rate setting decisions. Additional 2021 RMS Models RMS Canada Wildfire Model has been added to the RMS North America Wildfire Models Suite and is available now. Canada Wildfire has coast-to-coast coverage for Canada. Consistent with the RMS U.S. Wildfire Model, the Canada model incorporates ignition and spread of wildfires, ember footprints, smoke footprints and urban conflagration, as well as the financial model that include hours and distance clauses for representation of policy terms. RMS Cyber Solutions Version 5.1, available now, incorporates a new dashboard for underwriters providing powerful cyber underwriting analytics and rich data covering cyber incidents and threats. RiskLink Version 21.0 RiskLink 21.0 will be available June 2021. All RiskLink models will be available concurrently on both RiskLink and Risk Modeler.