RMS(one) will be launched on April 15, offering users access to all RMS catastrophe models on one all-encompassing cloud-based exposure and risk management platform.
The system will also allow selected modelling partners to input their own data and assumptions. RMS has already secured the support of ARA, Risk Frontiers, ERN and JBA Risk Management, who collectively are implementing catastrophe models for 40 peril/country combinations on RMS One. There is an expectation that more will follow.
RMS has worked with 1,000 people from more than 30 leading re/insurers and brokers worldwide to develop, test and validate RMS(one) through the company’s joint development partner, early access partner and faststart programmes.
Hemant Shah, co-founder and CEO of RMS hailed the new system as: "A true platform for exposure and risk management, our clients understand that RMS(one) is far more than just a next generation of catastrophe-modeling software.”
“The on-time release of v1.0 will be a major milestone along a journey towards transformational benefits for our clients, and we are committed to supporting our clients every step of the way, putting them in control of how and when they adopt RMS(one)."
“By empowering our clients to define their own models, use our models and access the models of growing ecosystem of partners, RMS(one) serves as the one true exposure and risk management platform. Existing solutions cannot do this," says Shah.
Commenting on their partnership with RMS, executive vice president of ARA Dr Lawrence Twisdale says: "Partnering with RMS to deliver our hurricane model on RMS(one) will provide significant, operational benefits for our clients. We are very excited by the opportunity to give our clients a new option for accessing the ARA model while we continue to deliver our model as either an ARA-hosted or client-hosted product.”
RMS, launch, catastrophe modelling, insurance, reinsurance