Xceedance has announced the availability of On-Demand Catastrophe Modelling Services, leveraging the Oasis Loss Modelling Framework (Oasis LMF).
Xceedance is a provider of insurance consulting, managed services, technology, data sciences, and blockchain solutions. The firm has revealed that the new offering includes several global and regional catastrophe modelling companies that implement models on the Oasis platform.
Ultimately, the platform provides the insurance industry with on-demand modelling services with no annual licensing requirements from each individual modeller, no requirement to use proprietary platforms, and also with the flexibility to choose peril models from across a community of expert model providers.
Currently, model providers on the platform include Ambiental, Applied Research Associates, CatRisk, COMBUS, CoreLogic, ERN/RED, Fathom, Impact Forecasting, and JBA Risk Management.
EMEA region head at Xceedance, Justin Davies, said: “With On-Demand Catastrophe Modelling Services, insurance organisations can get comprehensive cat and exposure analytics, delivered to them by an experienced team of Xceedance analysts— all in one reliable package.
“Re/insurers and brokers don’t need to spend time or resources on modelling. They don’t need to invest in infrastructure. And, they can concentrate on writing business and serving their policyholders.”
Xceedance says that the universe of model providers on the Oasis LMF, alongside its own catastrophe data/analytics services, makes it simpler and faster for insurance providers to gain refined, timely visibility into cat risks.
Furthermore, services such as this can result in significant savings in the licensing, staffing, and deployment of multiple cat modelling platforms.
Dickie Whitaker, Chief Executive Officer (CEO) of Oasis LMF, said: “On-Demand Catastrophe Modelling Services on the Oasis LMF opens up a new world of possibilities for re/insurers and brokers.
“A service provider with the depth and knowledge of Xceedance adds a cost-effective and practical solution to accessing the expanding number of models available on the Oasis LMF platform.”
