Hoboken, NJ - September 28, 2018 RMS, the world’s leading risk modeling and analytics company, announced today that it was named 2018 North America Risk Modeler of the Year at this year’s Reactions 11th Annual North America Awards, held on September 27 in New York City. Recognizing top performance and innovation in the market, the award highlights RMS risk management expertise along with the firm’s superior offerings across data and innovative science-based technologies.
“We are honored to be chosen by the industry as the 2018 Risk Modeler of the Year,” said Pete Dailey, Vice President, Americas Climate Models at RMS. “Our approach to modeling and reconnaissance work in the face of Harvey, Irma and Maria during 2017 emphasized to RMS clients in both the (re)insurance industry and the capital markets that we continue to be a dependable source of guidance offering key data necessary for their businesses.”
This award showcases the RMS commitment to providing clients and the market with scientifically sound models, robust data sets, and unparalleled analytical services during a very active 2017 catastrophe season, helping insurers protect and find new opportunities for their businesses. In a year of the highest insured losses ever, 2017’s disasters were especially concentrated in North America with 83 percent, or US$273.9 billion, of overall global losses of US$330 billion. RMS climate risk models, such as the RMS North Atlantic Hurricane Models suite, delivered the insights that helped the market to quantify, differentiate and manage hurricane risk accurately, from the local level to larger portfolio management and capital management decisions.
“We care about the accuracy of our loss data,” said Dailey. “After a storm makes landfall, we conduct a deep analysis of the event and its impact, including a full event reconstruction validated by on-site reconnaissance. Only after this is complete do we issue an insured loss estimate to the market, thus delivering losses and insights that are supported by evidence.”
The 2018 North America Risk Modeler of the Year award highlights the agility that RMS brings to an evolving market with science-based insights and a comprehensive, data-driven approach to modeling risk. RMS continues to demonstrate a commitment to partnering with global clients to help them better assess gaps and stresses in their portfolios in combination with capitalizing on new opportunities, such as those associated with wildfire risk across North America and the growing private market for U.S. inland flood.
When it comes to addressing client needs, Lorenzo Sargenti, Managing Director, Client Development at RMS, said, “Previously, in both 2017 and 2018, Reactions named RMS the Latin America Risk Modeler of the Year due to our delivery of new risk modeling capabilities and knowledge that helped the region’s insurers protect their businesses and offer opportunities for global expansion. Our clients recognize the value of our models during catastrophic events and the ongoing support we provide to their changing business needs. Working with the industry-at-large, we’re pursuing creative solutions toward a goal of global sustainability and resilience.”
NEWARK, CA – 15 August, 2022 – Andrew Hare has been appointed Managing Director, Asia-Pacific at RMS®, a Moody's Analytics company and global leader in risk modeling and solutions. Andrew will be responsible for integrating and leading the strategy and execution across the combined RMS and Moody’s Analytics Insurance Vertical, as well as overseeing client relationships and business development in the region. He will be based in Singapore and will report to Michael Steel, General Manager at RMS, and Wael Jadallah, Moody’s Analytics Head of APAC and the Middle East. Andrew has almost 25 years of experience and was most recently Managing Director and Head of Aon Inpoint (Aon's insurance advisory business) for Asia. He was previously a Managing Director responsible for Strategy and Growth at Aon Reinsurance Solutions across Asia-Pacific. During his 17-year career with Aon, Andrew worked extensively with insurers and reinsurers in the U.K., Europe, Bermuda, and North America before moving to Singapore in 2013. Andrew began his career with Accenture after majoring in Business Management at Oxford Brookes University. Michael Steel, General Manager, RMS said: "Andrew brings extensive experience in the insurance industry, as well as a thorough understanding of the diverse risk requirements in Asia-Pacific, where he has built industry-leading teams and capabilities that have delivered deep insights and added value to insurers and reinsurers. We are delighted to welcome Andrew and look forward to the positive impact he will have on RMS and Moody's Analytics clients. We have always placed a high value on the Asia-Pacific region, and Andrew's appointment demonstrates our continued commitment to providing leading insight, data, and analytics to our clients, communities, and the industry." Wael Jadallah, General Manager Asia-Pacific and the Middle East, Moody's Analytics, highlighted: “We are delighted to have Andrew join as Managing Director and head of our Insurance practice in Asia-Pacific and the Middle East. Andrew is well known and respected by an extensive network within the insurance industry globally. He brings a wealth of experience and his appointment is a testimony of Moody’s Analytics’ investment in our regions, as we continue to invest in our commitment to add value to our clients’ evolving needs.” Andrew Hare, Managing Director, Asia-Pacific, RMS added: “Climate change and natural catastrophes, such as flood, fire, earthquake, and typhoon, continue to wreak havoc on the Asia-Pacific region. Following the devastating effects of the COVID-19 outbreak as well as chronic supply chain disruptions, heightened cyberattacks, social and economic inflation, and global geopolitical uncertainty, many economies and communities in the region are continuing their long road to recovery. RMS, with the combination of capabilities with Moody’s Analytics, is uniquely positioned to provide a deep understanding of the region’s evolving risk profile and increase confidence in risk management and selection. I am thrilled to join the team to deliver an integrated risk assessment strategy that will help clients and communities decode risk and unlock opportunity."
LONDON – 3 August, 2022 – Covenant Underwriters, the e-commerce insurance program administrator, is using Location Intelligence API from RMS®, a Moody’s Analytics company and world-leading risk modeling and solutions company, to provide real-time premium indications to its clients during the quotation process. RMS Location Intelligence API offers market-leading, high-resolution, location-level hazard, risk, and loss metrics delivered directly into underwriting workflows. Clients using Location Intelligence API benefit from trusted model data to help customize pricing for each policy, helping avoid adverse selection and to provide greater opportunities for dynamic pricing. Location Intelligence API is available in multiple countries and covers key modeled perils like hurricane, flood, earthquake, wildfire, convective storm, and more. Daniel Murray, Chief Underwriter at Covenant Underwriters, said: “Covenant has developed an API-powered rating algorithm that leverages big data and artificial intelligence to produce an instant price indication for any given address. Using an application programming interface (API) to integrate RMS knowledge and insight directly into the Covenant platform, enables our retail brokers to craft the winning terms during the quote process.” Marisa Ruscitto, Managing Director, RMS, said: “The RMS Location Intelligence API enables users to benefit from a competitive advantage with real-time, location-level hazard, risk, and loss metrics. Using these metrics not only helps with risk selection but also pricing, screening, and referrals. As underwriting workflows automate rapidly, an increasing number of industry leaders are adopting real-time underwriting processes and decision-making capability to quickly match risk to capital, and to better support their clients and their business.” About Covenant Underwriters Based in Houston, Texas, Covenant Underwriters develops and administers e-commerce insurance programs that leverage custom forms, cutting-edge technology, and niche underwriting to make specialty insurance easy for retail brokers. Current niche programs include commercial package policies for limited-service hotels and convenience stores with gas stations. Visit Covenant Underwriters for more information.