With its annual Exceedance conference underway this week, catastrophe risk solutions firm RMS has underlined the value of Risk Modeler, a cloud based solution running on its Risk Intelligence platform.
Risk Modeler is designed to meet the needs of risk analysts and cat modelers at scale by enabling real-time risk analytics and unified execution of RiskLink models and High-Definition (HD) simulation models.
RMS says the solution integrates with other on-premise applications as well as other cloud applications through open APIs and export services, giving customers greater flexibility and choice.
HX Analytics’ David Flandro said, “Risk Modeler together with RMS’s trusted science is an important part of our analytics ecosystem that helps Howden provide a differentiated service to our clients and partners.
“The SaaS delivery and API-based development framework is well positioned to help service our digital-first vision with distinction.”
Gallagher Re, Price Forbes & Partners Ltd, and Unipol spoke during the conference keynotes about their experiences with Risk Modeler to date, with Howden Group also sharing their insights on the benefits of Risk Modeler.
Neil Bramley, analytics executive, Gallagher Re, noted “Gallagher was keen to take advantage of the SaaS Solution, pushing the technology harder and faster, leveraging the benefits and scale of secure cloud computing to ultimately create tangible advantage and upsides for our clients.
“Risk Modeler helped us grow our analytical capability tremendously and our usage stats are through the roof compared to last year, with the added benefit of zero downtime whenever our divisions are looking to access new functionality and solutions.”
Gian Luca De Marchi, group chief risk officer, Unipol Gruppo S.p.A., added, “Risk modeling through the Risk Modeler application allows us to run portfolio analyses and to support risk management assessments for risk profiling, risk monitoring, capital allocation, and optimal risk transfer.
“Now, the RMS models could help us in moving to an internal model, reducing the gap between economic capital and regulatory capital, and provide robust support in meeting regulatory requirements in particular in relation to stress tests.”
And lastly, speaking at the conference, RMS CEO, Karen White, said, “When RMS launched Risk Modeler 2.0 in 2020, more customers started on their cloud migration with us.
“We are seeing more momentum in the industry for digital first strategies. Today, insurers, reinsurers, and brokers from every major global geographic region are on the RMS platform.
“Leveraging leading models, technology, and the cloud to gain greater risk insights helps them to avoid surprises, confidently deploy more capital, and potentially develop new products and new business models.”
