Catastrophe modellers embrace open platforms

Smaller catastrophe modelling companies hope to take advantage of open platforms to reach more clients. Users must keep in mind, though, the demands on model validation that expanded model coverage will bring

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

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