15 April 2014News

Munich Re and Willis Re extend their support to RMS (one)

Torsten Jeworrek, CEO of reinsurance at Munich Re has endorsed RMS’s new modelling platform RMS (one), stating that the re/insurer has chosen the system as its core platform for exposure management.

RMS (one) has received further praise from John Cavanagh, CEO of Willis Re, who says that it will help to provide the broker’s clients with even greater model transparency.

The new platform has added five new ecosystem partners, Catalytics, CatRik Solutions, COMBUS, OYO and Quake Risk, which joins four existing partners on RMS (one).

Together they create the most extensive catalogue of probabilistic models on one platform, offering the industry more than 300 probabilistic models in one place, enabling companies to build a robust view of risk.

Commenting on RMS (one), Mario Ordaz, president of ERN—whose models are available on the open source platform—says: “RMS(one) is the only platform I know of that has clearly been architected to be both open as well as flexible enough to accommodate the unique aspects of any catastrophe model.

“We have successfully implemented our Mexico earthquake model, which uses unique modeling approaches to simulate complex ground-motion behavior in the Mexico City area. The implementation process was very easy and we were able to maintain the full integrity of the model while at the same time taking advantage of the RMS financial model and high performance computing infrastructure.”

“RMS has pioneered and is building an enduring ecosystem of risk-management capabilities. With the successful implementation of the first partner models, our clients can now, for the first time in the history of this industry, run models from multiple providers on the same platform,” says Paul VanderMarck, RMS chief products officer.

“We are pleased to welcome our newest partners who will extend even further the range of catastrophe models available to our clients, while at the same time providing them with opportunities to grow their specialist-modeling businesses in ways that weren’t possible before.”