Catastrophe modellers embrace open platforms

Liberalised cat modelling market will place extra demands on model validation

Catastrophe image

Niche catastrophe risk modelling companies are flocking to newly-established open modelling platforms to boost market penetration. The RMS(one), designed by Risk Management Solutions (RMS), and the Oasis Loss Modelling Framework (LMF), designed by a consortium of insurers, reinsurers and modelling companies, are both attracting fervent interest from specialist modelling companies, some of which are already integrating their products with the new platforms. The soon-to-be relaunched AIR Touchs