The Most Holistic View of Risk
RDOS can handle any type of model, any line of business, and any financial terms and conditions. Other formats rely only on SQL, which has inherent limitations. The RDOS is not tied to a specific technology and can be physically implemented in different ways. With RDOS, risk-focused companies such as insurers and financial services firms that transact on risk will increase efficiencies and maximize opportunities.
Creating an Open Standard for Risk Data With Risk Data Open Standard (RDOS)
RDOS has been developed by Risk Management Solutions (RMS) with guidance from the RDOS Steering Committee, composed of experts from 15 leading insurance companies, to provide a much-needed industry data standard. RDOS solves many pain-points that modeling practitioners have struggled with for decades, and it paves the way for the future of risk modeling.
RMS Announces Public Availability of the Risk Data Open Standard
RDOS is a modern data schema for the risk modeling community, representing the new, open standard for holding all types of risk data, including exposure, coverage, model settings, and results of analyses. Purpose-built for the risk industry, RDOS is a living open standard guided by real-world practitioners who demand the interoperability and portability required to handle the scale and complexity of modern risk management.
How to Contribute to the Risk Data Open Standard (RDOS)
It is an exciting time for the insurance and wider risk management industry. As of January 31, 2020, a new asset for the industry – the Risk Data Open Standard (RDOS) – has been made publicly available on GitHub, the largest host of source code in the world, with over 100 million repositories and over 37 million users. It is available royalty-free.