Strategic Consulting and Solution Assessment
RMS consulting uses proprietary analytics and best practices to develop actionable recommendations that help you overcome existing challenges and increase business value.
A Strategic Approach to Risk
We start by understanding your company’s strategy, business priorities, and current challenges to help us contextualize the results and ensure our deliverables include actionable recommendations.
Risk Maturity Index
Our proprietary risk maturity index helps clients understand their existing maturity relative to peers and guides improvement efforts.
Solution Assessment
We identify how RMS models, software, data, and services offer a solution, including an implementation plan, as well as the benefits and costs of transformation.
Portfolio Risk Review
By modeling the current book of business, we identify areas of concern or opportunities to support underwriting and business planning decisions.
Improve Modeling Practices
By understanding your current maturity relative to peers, we can create an actionable plan for improvement and prioritize spend where it matters most.
Industry Segment Assessment
By assessing and benchmarking an industry that you are evaluating, we help identify any systemic issues and provide recommendations to improve the maturity of specific companies and the entire industry.
Initiating Risk Management
This initial assessment of exposure data, its impact on modeling, and recommendations for data collection and coding provide an understanding of portfolio risk and what is driving it. With clearer perspective, we help support more informed underwriting and business planning decisions.
Operational Efficiency
We review your system architecture, workflows, integration, and data entry processes to assess areas where we could integrate, automate, or outsource existing tasks to reduce costs or improve efficiencies.
Ratings and Guidelines
By assessing current rating zones and underwriting guidelines, we can provide advice on improvements, including revised model-informed rating tables and underwriting guidelines to improve profitability for cat-exposed risks.
Case Studies
A Mature Approach to Exposure and Catastrophe Risk Management
IRB Brasil Re has a history of reinsurance market leadership in Latin America and continues to maintain that position in nine of its 11 business lines, while also growing to be among the 10 largest reinsurers in the world in market value. Looking ahead, international expansion and achieving greater efficiency across risk and exposure management processes are core to maintaining and expanding market position.
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.
Resources
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…
Identify Issues and Opportunities for Growth
