Catastrophe risk modelling and analytics firm RMS has made available two new solutions hosted on its Risk Intelligence platform.
The company says its Location Intelligence API and the SiteIQ applications enable primary underwriters to quickly gain an understanding of all hazards facing any property in their global portfolio.
More specifically, RMS states that its Location Intelligence API provides underwriters with granular, location-specific information compiled from big data simulations of catastrophic events.
Meanwhile, 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.
“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.”
Karen White, Chief Executive Officer of RMS, added,“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.”