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NEWARK, Calif. - June 28, 2019  RMS, a leading global risk modeling and analytics firm, announced the availability of two transformative data solutions hosted on RMS Risk Intelligence (RI), its strategic risk platform. Expanding on its suite of strategic risk products, these solutions employ sophisticated RMS models and rich data layers built into the RMS platform. With growing pressure to make critical underwriting decisions quickly, speed and precision is everything. RMS Location Intelligence API and the SiteIQ application enable primary underwriters to quickly gain a deeper understanding of all hazards facing any property in their global portfolio, providing confidence and accuracy in risk-based decision making, with just a few key strokes.

“Rich, comprehensive analytics used by top global (re)insurers to place billion-dollar bets on cat risk never made their way to the primary underwriting desk. That changes today,” said Chris Folkman, Senior Director, RMS Model Product Management, “Whether it’s for hurricane or wildfire risk, flood zones or building attributes, through the RMS suite of data solutions, underwriters can decline or cede risks that don’t meet their risk appetite, price more accurately, and avoid adverse selection.”

Superior Data Service For Comprehensive Location Risk Metrics

When there is insufficient time to run catastrophe risk models, the RMS Location Intelligence API rapidly delivers underwriters with granular, location-specific information compiled from big data simulations of catastrophic events. RMS has released an expansive data offering; the API delivers the latest model science from across the RMS Model Suite. Now, underwriters can tackle competitive risk selection and price accordingly for risk across U.S. wildfire, flood, tropical cyclones, and earthquake. Linking into insurers’ underwriting systems, this API facilitates instant access to the most sophisticated hazard, exposure and loss data derived from RMS best-in-class modeling.

Application For Site-Specific Hazard Scores, Risk Scores And Loss Costs

SiteIQ allows underwriters to simply enter the address of a specific location for instant hazard scores, risk scores, and loss costs, as well as view high resolution hazard maps; enabling users to assess single risks in the context of their current portfolio. The intuitive application draws on rich data and model science accessed directly from the RMS Location Intelligence API and can integrate key third-party data allowing users to view information such as crime scores or fire protection. Entire accounts or portfolios can be imported to SiteIQ, with the application allowing hazard scores to be viewed for multiple locations. This allows users to quickly identify any outliers, moving their focus to the most important or hazardous risks.

Karen White, CEO of RMS, said: “We have listened to the market, and to our clients. We know that there are times when full in-depth analysis is essential and there are times when immediacy of information is paramount. With our expanding suite of data solutions, a consistent and superior view of risk from underwriting up to portfolio management is now possible. RMS Location Intelligence API and SiteIQ can deliver immediate results at the times when they are needed the most for our clients.”

More information on our new data solutions is available below can be found here on the Location Intelligence API and SiteIQ.

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December 20, 2021
Tunis Re Signs Consulting Agreement with RMS to Strengthen Monitoring of Exposures and Accumulations

LONDON – 20th December, 2021 – RMS®, the world’s leading catastrophe risk solutions company, announces that it has formally signed a consulting agreement with Tunis Re to create an exposure and accumulation study, with a focus on Flood, Terrorism and other natural catastrophes. This agreement will enable Tunis Re to increase monitoring of its exposures and further expand its risk management capabilities. Lamia Ben Mahmoud, Chief Executive Officer at Tunis Re, said: “To continue providing our valued clients with the excellent service to which they are accustomed, we continuously look for ways to stay ahead of our exposures and maintain exceptional risk management processes. Our strategic collaboration with RMS, who is highly regarded especially around flood, natural catastrophe and terrorism risks, will enable us to further develop a more comprehensive monitoring of these risks for the benefit of both our team and our clients and our other business partners.” Vivek Bajaj, Managing Director Europe and Asia, RMS, added: “We are delighted to work with Tunis Re on this collaborative initiative. We look forward to assisting them in furthering their awareness and knowledge of their exposures and supporting them as they embark on this journey. This demonstrates our commitment to continued development and growth in the important MENA region.” About Tunis Re Tunis Re is a public limited reinsurance company based in Tunis, Tunisia. Founded in 1981, the company writes both treaty and facultative solutions (non-life and life) and is one of Africa’s leading regional reinsurers. Tunis Re has a diversified global portfolio which expands over 51 countries across the Middle East, Africa and Asia.

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December 13, 2021
RMS Working with Canopius to Enhance Climate Change Risk Analysis with RMS Climate Change Models

LONDON – 13th December, 2021 – RMS, the world’s leading catastrophe risk solutions company, is working with leading global specialty (re)insurer Canopius to develop and enhance Canopius’ climate change risk analysis with the adoption of RMS Climate Change Models. RMS has worked closely with Canopius to fully integrate the climate change models into its business processes with a focus on North Atlantic hurricane wind and storm surge. The RMS Climate Change Models will also help Canopius to respond to new and emerging regulatory reporting, such as the recent Bank of England Climate Biennial Exploratory Scenario (CBES) exercise, as well as further financial disclosures. RMS Climate Change Models help (re)insurers, such as Canopius, better understand, evaluate, and manage climate change risk in multiple regions using a probabilistic modeling approach. The models offer comprehensive and flexible parameters to seamlessly adjust time horizons and Representative Concentration Pathways (RCPs) to assess the impacts and uncertainties associated with different climate change scenarios. Joss Matthewman, Senior Director, Product Management, RMS, said: “Rigorous and reliable climate change risk analytics are vital for all businesses right now. This is not just about contributing to increased regulation and financial disclosures, but also providing clients with strategic insights and outcomes for short-, medium- and long-term horizons. We are pleased to continue our work with Canopius, and we see more companies across the insurance and reinsurance industry defining best practices around climate change and investing in the future of our industry.” Paul Wilkinson, Head of Aggregation and Risk Strategy, Canopius said: “Climate change presents one of the most significant risks to the (re)insurance industry. It is important to us to incorporate the latest science relating to climate change into our risk analytics in a manner that can be tailored to our needs and fully integrated across key business operations, such as portfolio management, near-term underwriting, and business planning. The RMS models enable adjusting time horizons for the near- and long-term, which, combined with the full flexibility and range of the IPCC’s Representative Concentration Pathway (RCP) scenarios allows us to confidently assess North Atlantic hurricane climate change risks.”

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December 07, 2021
Hiscox Utilizes RMS Location Technology to Deliver Large-Scale, High-Speed Point of Quote Pricing for Coverholders

LONDON – 7th December, 2021 – Specialist global insurer Hiscox is working with RMS, the world’s leading catastrophe risk solutions company, to extend and increase its use of groundbreaking RMS Location Intelligence API technology, to improve the customer experience for its coverholders by providing real-time tailored quotes. RMS Location Intelligence provides market-leading modeling data offering high-resolution, location-level hazard, risk, and loss metrics. The use of an application programming interface (API) to integrate RMS data directly into Hiscox systems allows real-time responses to coverholders, and no lost business due to slow response times. RMS Location Intelligence also provides a live view of Hiscox’s bound portfolio enabling active management of risk aggregation and greater opportunities for dynamic pricing. Paul Butler, Technology Director, Hiscox, said: “It is no secret that technology continues to be a major driver across all aspects of the insurance industry. At Hiscox we are accelerating investment in our data and analytical capabilities to enable us to capture new opportunities in the market. Our Coverholder relationships are vital to our business growth at Hiscox and since working with RMS Location Intelligence API, our FloodPlus book has doubled year on year, now generating in the region of 20,000 quotes per week. The millisecond response times are needed to keep our overall API response time below four seconds – our benchmark for providing real-time and automated trading platforms in FloodPlus and BindPlus.” Jason Futers, Managing Director at RMS, said: “There has been huge growth in the Coverholder market, and many sophisticated carriers are now moving to live quoting of delegated business so that they can precisely tailor pricing to their view of risk and build a better book of business. RMS Location Intelligence offers real-time screening and pricing analytics from RMS data and models that enable carriers to adopt a consistent view across the full risk transfer process, from individual risks through to portfolio management. Being able to provide coverholders with real-time, fully automated quotes is a gamechanger that is driving increases to the quote-to-bind ratios, and improvements in the quality and quantity of underwritten policies.”   About the Hiscox Group Hiscox is a global specialist insurer, headquartered in Bermuda and listed on the London Stock Exchange (LSE:HSX). Our ambition is to be a respected specialist insurer with a diverse portfolio by product and geography. We believe that building balance between catastrophe-exposed business and less volatile local specialty business gives us opportunities for profitable growth throughout the insurance cycle. The Hiscox Group employs over 3,000 people in 14 countries, and has customers worldwide. Through the retail businesses in the UK, Europe, Asia and the USA, we offer a range of specialist insurance for professionals and business customers as well as homeowners. Internationally traded, bigger ticket business and reinsurance is underwritten through Hiscox London Market and Hiscox Re & ILS. Our values define our business, with a focus on people, courage, ownership and integrity. We pride ourselves on being true to our word and our award-winning claims service is testament to that. For more information, visit www.hiscoxgroup.com

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About RMS

Risk Management Solutions, Inc. (RMS) shapes the world's view of risk for insurers, reinsurers, financial services organizations, and the public sector. We empower organizations to evaluate and manage global risk from natural and man-made catastrophes, including hurricanes, earthquakes, floods, climate change, cyber, and pandemics. RMS models underlie the nearly US$2 trillion Property & Casualty industry and many insurers, reinsurers, and brokers around the world rely on RMS model science.

RMS helped pioneer the catastrophe risk industry, and continues to lead in innovation by offering unmatched science, technology, and 300+ catastrophe risk models. Leaders across multiple industries can address the risks of tomorrow with the RMS Intelligent Risk Platform™, the only open cloud with collaborative applications and unified analytics that can power risk management excellence across organizations and industries. 

Further supporting the industry's transition to modern risk management, RMS spearheaded the Risk Data Open Standard (RDOS), a modern, open-standard data schema designed to be an extensible and flexible asset within modeling/analysis systems.

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

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

RMS is a subsidiary of Moody’s Corporation (NYSE: MCO) and operates as part of the Moody’s Analytics business segment. Moody’s Analytics is operationally and legally separate from the Moody’s Investors Service credit rating agency.

Media Contacts

Matthew Longbottom

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

Haggie Partners

PR Lead, Americas
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