AIR Worldwide, the catastrophe modelling arm of Verisk Analytics, has announced the launch of Touchstone Re, a new catastrophe modelling software application that replaces its long-standing CATRADER product.
“With over 20 years of experience with CATRADER and its predecessor products, we’re excited to see the next generation features available now in Touchstone Re,” said Nick Datt, Vice President, enterprise risk management, Odyssey Reinsurance Company.
Touchstone Re has been designed for estimating the loss potential of reinsurance contracts and portfolios, industry loss warranties, and insurance-linked securities.
The new modelling application enables companies to more effectively model and price complex reinsurance structures, understand where their exposures are concentrated around the globe and estimate loss potential when detailed exposure data may not be available.
“One feature that stood out to us is the ability to visualize complex reinsurance structures on-screen and easily modify them using the drag-and-drop tool,” added Datt.
“Our global teams are excited about this new functionality as well as the speed enhancements and look forward to incorporating Touchstone Re into a much more streamlined workflow for both treaty pricing and corporate rollup.”
Organisations that also license AIR’s flagship catastrophe risk modelling platform, Touchstone, will now easily be able to transfer loss results into Touchstone Re, enabling users to access data quickly by line of business down to subarea resolution, without having to export it manually from one application and import it into another.
“Having experienced Touchstone Re as an early adopter, I’m truly looking forward to the release of the application,” said Martin Hamrin, Senior Vice President, group underwriting analytics, Sirius International.
“As a client that licenses both Touchstone and now Touchstone Re, the ability to transfer data seamlessly between the platforms is a welcome addition and will save our catastrophe modelers significant time.”
“Touchstone Re not only incorporates the key functionality from CATRADER, it also includes a host of new features across core reinsurance pricing and portfolio management workflows while being a more scalable application with a fresh user interface and streamlined navigation,” said Sudhir Potharaju, senior vice president, product, at AIR Worldwide.
Alongside this announcement, AIR has updated its Touchstone platform to include enhancements that enable users to perform new analytics, customise the software, and improve and simplify users’ workflows.
Enhancements include support for zone-based analytics for detailed loss modeling, improved management of Touchstone projects and data transfer between companies, an extensive refresh of the user interface, and the ability for clients to build and use custom models.
