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RMS Launches New Exposure Management Solution on RMS(one) PlatformRMS is enabling insurance and reinsurance companies to maximise value from their exposure data with the release of Exposure Manager, its new exposure analytics solution. The global catastrophe risk management firm today announced that Exposure Manager, the first solution to be released on the RMS(one)® platform, is now available to all insurance and reinsurance firms and brokers. The exposure analytics solution has been developed to give firms a much clearer view of their risk accumulations to better manage volatility. RMS has achieved this by integrating its flagship Financial Model, used by its catastrophe models, into Exposure Manager, enabling the software to deliver a consistent view of risk across an organization. The Exposed Limit metric produced by Exposure Manager, provides a complementary and consistent perspective to the output generated from risk models. This consistency helps to increase a firm's confidence when submitting modelled and non-modelled numbers to external stakeholders. Eric Yau, general manager, RMS Software business, said: "I am delighted that our first solution on the RMS(one) platform is now available to the industry. The release of Exposure Manager is a significant milestone in the RMS(one) product roadmap and will be followed next year by our second platform solution Risk Modeler. The need to calculate Exposed Limit in a consistent and credible manner is crucial to our clients' business, and it's this capability that sets apart Exposure Manager from all other exposure management tools." RMS has designed the Exposure Manager user interface to be flexibl and intuitive and utilize the extensive library of RMS hazard layers to democratize access to its analytics across the firm. Users at all levels of a firm can easily drill into drivers of loss and build portfolio-level insights knowing their insights are backed by science. This new capability, not previously available to firms, can help them manage their exposures more dynamically to help avoid being surprised by high losses, as well as make better use of their capital. The Exposure Manager solution is also designed to strengthen a firm's response to catastrophe events by quickly enabling teams to identify their affected contracts in the catastrophe-impacted areas via access to RMS and HWIND event footprints. Michael Daly, SVP and CUO, Mitsui Sumitomo Marine Management USA, said: "RMS Exposure Manager will give us the speed to calculate key metrics and deliver them in an easy to use and intuitive interface, allowing us to derive insights and build intuition into our diverse risk portfolio." Yau continued: "We commissioned independent research to understand a firms' pain points in their exposure management practices. The study indicates that not only do a high proportion of insurers believe that their exposure management practices need improving, a significant number revealed they have a limited view of exposure across their enterprise due to deficient exposure management practices. To address the gaps left by other exposure management tools, we've used best-in-class technology to develop a solution that will enable anyone company-wide to not only analyse their firm's exposure data quickly, but also to easily adopt a more deliberate approach to understanding the factors driving their firm's risk headline numbers." More information on Exposure Manager is available here. Notes to editors An RMS commissioned study of 300 insurers based in the U.S. and the U.K. carried out by analyst and consultancy firm Ovum (News - Alert), found that 61% of surveyed insurers believe that their risk exposure management practices need improving. And 38% of the same group say they are operating their business with a limited view of exposure across their enterprise. About RMS RMS models and software help financial institutions and public agencies evaluate and manage catastrophe risks throughout the world, promoting resilient societies and a sustainable global economy. Learn more at RMS.com and follow us @RMS.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160911005041/en/ |
