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NEWARK, Calif. - June 29, 2017  RMS, a leading global risk modeling and data analytics firm, today announced the release of RMS RiskAssessor™ 2.0, an engineering-based technology developed for insurers and reinsurers to integrate their own distinct view of vulnerability into their modeling workflows. This open modeling framework enables users to generate a new vulnerability risk currency that can then be easily shared across the market.

“Insurance companies today face an intensely competitive market that requires a more informed approach to pricing and risk differentiation, however, today’s catastrophe models face limitations. Our clients want to distinguish themselves from the pack and with RiskAssessor™ 2.0 they have the opportunity to represent their own unique views to enhance their insights and maximize profits,” said Michael Young, senior director, product management at RMS.“RiskAssessor™ 2.0 brings a fully featured ability to embrace custom vulnerability modeling for the key peril of Atlantic hurricane risk that companies have not had before, and we look forward to expanding this capability to other perils and regions in the near future.”

The open vulnerability modeling functionality in RiskAssessor™ allows insurance companies to do one of two things: 

  • Companies that are investing in detailed loss control inspections can turn proprietary inspection data into actionable risk assessments or pricing decisions via the 56 distinct wind-related variables and the RMS virtual wind tunnel technology included in RiskAssessor™ 2.0 
  • Other companies may choose to take advantage of the flexibility of the custom vulnerability modeling framework to create new classes of risk tuned to their unique business profiles

Regardless of the use case, the value of the custom view of risk can be shared with other risk transfer partners in the market because it allows users to store and share custom vulnerability curves directly from within the RMS Exposure Data Module (EDM). RiskAssessor™ 2.0 unlocks these custom vulnerability capabilities for all RMS modeling workflows including RiskLink®, RiskBrowser® and now, Risk Modeler on the RMS(one) platform.

Learn more about how RiskAssessor™ 2.0 can enhance your view of risk here.

 

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About RMS

Risk Management Solutions, Inc. (RMS) helps insurers, financial markets, corporations, and public agencies evaluate and manage global risk from natural and man-made catastrophes, including hurricanes, earthquakes, floods, climate change, cyber, and pandemics.

RMS leads the catastrophe risk industry that we helped to pioneer by marrying data and advanced model science with leading-edge technology. Leaders across multiple industries can address the risks of tomorrow through RMS Risk Intelligence™, our open, real-time exposure and risk management platform, enabling them to tap into RMS HD models, rich data layers, intuitive applications and APIs that simply integrate into existing enterprise systems.

RMS is a trusted solutions partner enabling effective risk management for better business decision making across underwriting, risk selection, mitigation, and portfolio management.

Visit RMS.com to learn more and follow us on LinkedIn and Twitter.

Media Contacts

Matthew Longbottom

PR Lead, EU and APAC
+44 20 7444 7706 prteam@rms.com

Devonne Cusi

PR Lead, Americas
+1 551 226 1604 prteam@rms.com
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