We explore cat models to fit the needs of your business and view of risk, including detailed analysis of exposures, claims, and loss development.
From data collection to pricing and portfolio management, we can help you effectively operationalize cyber modeling and build a more profitable business.
Life and Health
Our longevity and extreme mortality modeling tools blend best-practice actuarial techniques with medical science to help you better balance risk and capitalize on opportunities.
Get a deeper understanding of a peril through education on an RMS peril model, including model methodology and validation. We’ll review exposure composition and quality, how it relates to the peril of interest, and explain model results using specific portfolio exposure data.
Validation and Implementation
Tailor adoption of a model into a workflow by establishing a best-practice model validation process. We’ll identify the appropriate focus and validation priorities, and we'll develop a custom validation plan that leverages the learnings from claims analysis and targets the appropriate level of breadth and depth to meet your business objectives.
Claims and Exposure Analysis
Study exposure and claims trends over time to confirm that the model performs well with your loss experience or demonstrate where it differs. This is especially useful for books that are not homogeneous to provide more realistic insights.
Own View of Risk
Create a custom view of risk that better suits your business to improve underwriting and portfolio management decisions. For example, the RMS Longevity Risk Model can be calibrated to your portfolio, RMS experts can design and develop specific cyber scenarios for a portfolio, or cat model results can be compared to a portfolio loss history to establish a consistent view of risk.
Getting Ahead of the Curve on Data Quality
Incomplete or inaccurate data assessment can bias model results. In our latest Illustrate case study, we look at how RMS worked with Securis to enhance the quality of its cedant-provided data.
Risk Maturity Benchmarking Example: IRB Brasil Re
In our previous blog post, we reviewed how RMS has developed Risk Maturity Benchmarking, a tool to help clients understand their current processes and maturity and create a blueprint for improvement tied to their business strategy. In 2017, RMS conducted a Risk Maturity Benchmarking (RMB) study for IRB Brasil Re – click here to read the full case study, to assist IRB on the implementation of their three-year transformation plan. …
Risk Maturity Benchmarking: Riding the Wave of Change
Helping clients through the evolution of catastrophe modeling is a core mission for RMS Consulting. To assist in the process we have developed a tool called Risk Maturity Benchmarking, which we’ll introduce below, that helps our customers do this. Secondly, we will review an example where we have applied this framework with a client to create their own target operating model for catastrophe risk. I don’t believe we would have achieved what we have if we had…
Quantify Your Silent Cyber Exposure With These Three Steps
In 2017, WannaCry infected computers in over 150 countries across the globe, taking out critical functions such as the National Health Service (NHS) in the U.K. One year later, the NotPetya cyberattack brought many household names to a standstill. The pharmaceutical giant, Merck, was reportedly the source of US$1.3 billion of total impact to (re)insurers from the NotPetya attack, 87 percent of which was considered silent exposure. These two major cyberattacks…
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