Taiping Reinsurance Co. Ltd (TPRe) and Taiping Reinsurance Brokers Ltd. (TPRB) have licensed Moody’s RMS Risk Modeler, an application on the cloud-native Intelligent Risk Platform.
According to the firm, TPRe and TPRB are the first reinsurance businesses based in the Hong Kong/China region to upgrade to the Risk Modeler application from RiskLink.
The move is anticipated to “maximize the value they get from Moody’s RMS risk modeling within a unified, efficient, and cost-effective solution.”
“Using Risk Modeler, model versions can be run side-by-side quickly and easily; enabling cedants to better understand differences between Moody’s RMS model versions during treaty renewal negotiations, such as Version 23 model updates compared to Version 21 models,” Moody’s RMS explained.
Both TPRe and TPRB will also be able to access the latest generation of high-definition risk models from Moody’s RMS, to offer the most up-to-date, and granular view of risk.
Andrew Hare, Insurance Leader, Asia Pacific at Moody’s RMS, commented, “We are delighted to announce the further extension of our partnership with TPRe and TPRB. The adoption of the IRP and Risk Modeler marks a significant milestone in streamlining the delivery of advanced risk insights to their clients.
“With the incorporation of the IRP and its applications, plus HD Models, both businesses now have a robust cloud-native platform, enhancing their ability to leverage the advantages of advanced risk modeling and analytics alongside the benefits of cloud technology.
“This extension solidifies our joint commitment to providing innovative solutions and reinforcing our collaborative efforts for mutual success.”