Exposure Manager, the first solution to be released on the RMS(one) platform, strengthens risk accumulation management for insurance and reinsurance companies
Recent independent survey reveals the majority of insurers consider their risk exposure management practices are deficient. And more than a third say they have a limited view of exposure across their business
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.
RMS has designed the Exposure Manager user interface to be flexible 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.
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
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