Business Wire

RMS Launches New Products and Models on RMS Risk Intelligence, the Unified Cloud Platform for Global Risk

Share

As the world is changing in profound ways, so is risk. Climate change, pandemic events, and cyberattacks are threats we all now have to consider in new and innovative ways. With better understanding of risks, better decisions can be made, enabling better risk management end-to-end. Today, at the opening of its annual Exceedance conference, RMS, the world’s leading catastrophe risk solutions company, announced significant new model and product releases and updates for RMS Risk Intelligence™ (RI).

RMS Risk Intelligence (RI), first launched in May 2019, is an open, modular, unified, and reliable cloud platform that enables advanced modeling, deeper risk insights and analytics. Leveraging a cloud-native architecture, RI delivers higher performance and scale. With the RMS Risk Intelligence platform, there is no hardware or software to maintain, focused on reducing cost of ownership. The platform enables (re)insurers, the capital market, governments, and other organizations to efficiently operate and manage all their RMS risk models in the cloud, with an intuitive user experience, integrated with advanced risk analytics. RI is compliant with all industry recognized best-in-class security requirements such as GDPR, ISO27001, C5 and SOC2.

This week, during the virtual Exceedance 2020 conference, RMS will demonstrate significant advancements on RMS Risk Intelligence.

Risk Modeler 2.0

Risk Modeler 2.0™ is a break-through product release at RMS, running on RMS Risk Intelligence. Risk Modeler 2.0 provides advanced portfolio and account risk analyses leveraging RMS models and is designed to meet the complex needs of risk analysts and cat modelers. The latest version of the Risk Modeler product enables real-time risk analytics and unified, high performance execution of RiskLink® models and HD Models. It can also be easily integrated with on-premises modeling and other on-premises applications as well as other cloud applications through open APIs, giving customers maximum flexibility and choice. Risk Modeler 2.0 offers an all-in-one RiskLink and RiskBrowser experience, with familiar features along with an enhanced, intuitive user interface that streamlines workflows to reduce the time and steps it takes to complete complex analyses. Risk Modeler 2.0 is a unified modeling and analytics solution for an entire organization to run portfolio and account modeling workflows, promoting real-time risk insights.

Risk Modeler 2.0 provides:

  • Global risk model coverage in North America, Europe, and Asia, with RiskLink versions 18.0 and 18.1 of core models, HD Models and specialty models
  • Future-proof architecture for model engines that unify execution of RiskLink and HD Models under one roof
  • Faster model execution. For some of the most popular RiskLink Models such as North Atlantic Hurricane, North America Earthquake, Europe Windstorm and North America Winterstorm, plus others that run four to six times faster on a one million location portfolio
  • Simplified integration with existing systems with support for a rich set of data formats, from Exposure Data Module (EDM), Results Data Module (RDM), event loss tables (ELT) to period loss tables (PLT), and year loss tables (YLT)
  • Zero-downtime upgrades and faster access to models with side-by-side model versions in one application
  • Intuitive and familiar workflows including for RiskLink and RiskBrowser users
  • Simplified usability, with batch processing of multiple steps such as the data upload process, now reduced to one-step
  • API integration with third-party tools and in-house applications to enable a fully automated modeling end-to-end process, e.g., importing exposures, running geocoding and hazard lookup services

Risk Modeler 2.0 is available to customers in preview today and will be generally available with RiskLink models, with initial HD models in preview, by June 2020.

Risk Modeler with New HD Models

RMS High Definition Models are the next generation of risk modeling, delivering greater analysis and granularity than ever before. RMS HD Models have now all undergone a significant upgrade as they transitioned to the Risk Modeler application, which gives them greater flexibility and computational strength. The following models are in addition to the US Flood and US Wildfire HD Models that have been available through Risk Modeler’s earlier version:

  • Updated Europe Inland Flood Model suite that covers 18 river basins and over 8,000 catchments across 15 countries in Europe
  • Updated Japan Earthquake and Tsunami and New Zealand Earthquake models that both include sub-peril coverage for tsunami, fire-following, liquefaction and landslides
  • Updated Japan Typhoon and Flood Model that incorporates the most recent events such as Typhoons Jebi and Hagibis
  • Europe Severe Convective Storm Models, a brand new model suite that covers 17 countries with large pan-European event sets and is fully integrated with our Europe Windstorm Model.

All these HD Models are available today, and will be generally available between June and September 2020 in the Risk Modeler 2.0 application. Customers can evaluate and validate these models even earlier with the preview program for Risk Modeler, or through Analytical Services. Customers can access the Europe Inland Flood and US Wildfire Models starting in June on Risk Modeler 2.0, followed by Europe Severe Convective Storm, Japan Typhoon, Japan Earthquake and New Zealand Earthquake Models coming onto Risk Modeler 2.0 shortly after. All HD models will be generally available on the new Risk Modeler 2.0 by September 2020.

Analytical Application Suite

RMS Risk Intelligence also offers a new suite of advanced applications that are tailored for specific portfolio management and underwriting tasks. These include:

  • ExposureIQ™ – This new application ensures portfolio managers gain deeper insights into their books with millions of locations, enabling easy discovery of hotspots, diversification and re-balancing their portfolio. The ExposureIQ application provides real-time exposure information combined with wind forecasting events and footprints from RMS Event Response to help gain a quicker assessment of potential losses before, during and after an event. Customers may gain advanced preview access to the Exposure IQ application and it will be generally available June 2020.
  • Next versions of SiteIQ™ and Location Intelligence APIs-Rigorous catastrophe peril risk assessment can now be done in seconds, early in the underwriting process. The RMS SiteIQ and Location Intelligence APIs have been enhanced in these latest versions to provide fast and easy access to over 100 trillion data points and can now deliver over 200 data points per location in some regions, with current (and expanding) coverage of over 70+ countries.
  • TreatyIQ- Harnessing a massively scalable roll-up engine, a trusted financial model, and flexible contract languages, the TreatyIQ application enables property treaty underwriters to achieve greater return on capacity with pricing and portfolio roll-up analytics. The Treaty IQ application will be available in preview summer 2020 and will be generally available September 2020.

Cihan Biyikoglu, Executive Vice President, Product, at RMS, said: “The significant advancements that the RMS team has made across all our products, HD Models, and especially Risk Modeler have been possible through collaboration with more than 400 RMS customers this past year. The Risk Intelligence unified cloud platform, through its innovative use of the risk data lake, the Risk Data Open Standard (RDOS), unified modeling and IQ applications - securely brings greater scale, capabilities and risk insights to the market. I am also excited about what the future holds in terms of new products and technologies. Further developments of the machine learning and artificial intelligence tools used by RMS will continue to open greater opportunities.”

Karen White, Chief Executive Officer at RMS said, “Risk Intelligence is the world’s first comprehensive global risk platform. The complexity and connectedness of risks continually confront us - we are all experiencing the crisis of COVID-19, along with the persistent crises of climate change, extreme weather and growing cyber threats. Facing all this, our industry needs a modern risk platform that takes advantage of all manner of data, modeling and analytics, in a way that is fast, integrated, and leverages technology in new ways for better insights and outcomes. RMS promised innovation, and with Risk Modeler 2.0 and the IQ applications, we have delivered – with an integrated platform for modeling risk in the cloud at the scale and speed required to take on the future of risk.”

ENDS

Notes to editors:

About RMS:

Risk Management Solutions, Inc. (RMS) helps insurers, financial markets, corporations, and public agencies evaluate and manage global risk from natural and man-made catastrophes, including hurricanes, earthquakes, floods, climate change, cyber, and pandemics.

RMS leads the catastrophe risk industry that we helped to pioneer by marrying data and advanced model science with leading-edge technology. Leaders across multiple industries can address the risks of tomorrow through RMS Risk Intelligence™, our open, real-time exposure and risk management platform, enabling them to tap into RMS HD models, rich data layers, intuitive applications and APIs that simply integrate into existing enterprise systems.

RMS is a trusted solutions partner enabling effective risk management for better business decision making across underwriting, risk selection, mitigation, and portfolio management.

Visit RMS.com to learn more and follow us on LinkedIn and Twitter.

Contact information

Matthew Longbottom (U.K.)
+44 (0) 7584 333485
prteam@rms.com

Devonne Cusi (U.S.)
+1 551 226 1604
prteam@rms.com

About Business Wire

Business Wire
Business Wire



Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Rhizen Pharmaceuticals SA Announces Presentation of the Interim Results of the Phase I/II study of Tenalisib (RP6530) in Combination with Romidepsin in Relapsed/Refractory T-cell Lymphoma at American Society of Hematology (ASH) annual meeting, 20205.12.2020 16:00:00 CETPress release

Rhizen Pharmaceuticals, a clinical-stage oncology-focussed biopharmaceutical company, today announced presentation of the interim results of a Phase I/II combination study of Tenalisib with Romidepsin for relapsed/refractory T-Cell Lymphoma patients at the upcoming 62nd American Society of Hematology (ASH) annual meeting and exposition, to be held virtually from December 5 – 8, 2020. The poster presentation at ASH, 2020 includes interim data from a multi-center, open label, Phase I/II study in patients with T cell lymphoma (NCT03770000) with the objective of determining the MTD/optimal dose of Tenalisib given in combination with Romidepsin and assessing the preliminary efficacy of the combination. No dose limiting toxicities were reported and Tenalisib 800 mg BID plus Romidepsin 14 mg/m2 was determined to be the maximum tolerated dose for the expansion cohorts. Overall, the Tenalisib and Romidepsin combination was well tolerated across all patients (N=33) with no unexpected adverse eve

Data from the APOLLO Study Show Clinically Meaningful Response with DARZALEX ® ▼ (daratumumab) Subcutaneous Formulation Regimen After First or Subsequent Relapse in Multiple Myeloma4.12.2020 20:52:00 CETPress release

The Janssen Pharmaceutical Companies of Johnson & Johnson announced results of the Phase 3 APOLLO study showing that the addition of DARZALEX®▼ (daratumumab) subcutaneous (SC) formulation to pomalidomide and dexamethasone (D-Pd) significantly reduced the risk of progression or death by 37 percent, compared to Pd alone in patients with multiple myeloma (MM) after the first or subsequent relapse of disease.1 The APOLLO results, which will be presented on Sunday, December 6 at 9:00 p.m. CET during the American Society of Hematology (ASH) 2020 Annual Meeting and featured in the ASH press briefing (Abstract #112), add to the body of evidence supporting treatment with daratumumab SC-based regimens for patients with relapsed MM. These data were the basis for recent regulatory submissions in Europe and the United States (U.S.) seeking approval for daratumumab SC in combination with Pd for the treatment of patients with relapsed or refractory MM, with two or more prior lines of therapy, includi

Citi Private Bank Issues Outlook 2021: The New Economic Cycle: Investing for a Post-COVID World4.12.2020 17:36:00 CETPress release

Citi Private Bank has released its Outlook 2021: The New Economic Cycle: Investing for a Post-COVID World. The twice-yearly publication provides in-depth insights into the global economy and financial markets for the coming year and highlights multi-year “unstoppable trends” for client portfolios. This edition outlines why this is a remarkable time to be an investor. Just as the pandemic changed the price of every security when it arrived, the departure of COVID will mark the beginning of a new economic cycle, creating new opportunities for investors. Citi Private Bank expects 2021 will benefit from an economy that demonstrated resilience in the face of the worst global healthcare crisis in more than a century. 2020 was an opportunity for the world to “test drive the future” and make way for growth as the pandemic ebbs. The tailwinds for 2021 are underappreciated: our financial system is strong, government actions to protect individuals and businesses have been effective, technological

Takashi Nagao Appointed President and Chief Executive Officer of Medicago4.12.2020 17:00:00 CETPress release

Medicago, a biopharmaceutical company headquartered in Quebec City, Canada, today announced Takashi Nagao as the company’s new President and Chief Executive Officer. Prior to becoming President and CEO, Mr. Nagao served as the Chairman of the Board of Medicago, where for the last four years, he has guided Medicago executives to get the company to where it is today. Medicago, a research and development company for the last 20 years, is embarking on a transformative year, one that will see the company build on its R&D roots to become a company that also produces and commercializes vaccines and other immunotherapies. Mr. Nagao has extensive experience leading pharmaceutical companies through the pre-commercial and commercial process and is well positioned to ensure the successful launch of Medicago’s COVID-19 and influenza vaccines, subject to regulatory approvals. Mr. Nagao will continue Medicago’s evolution towards its goal of being a fully operational commercial entity, able to respond

WorldRemit Leads the Way Offering a USD Payout Option in Nigeria4.12.2020 16:46:00 CETPress release

WorldRemit, a leading digital cross-border payments business has announced that its customers in Nigeria can now receive remittances in foreign currency (USD) through its cash pick up providers. Following the announcement of the Central Bank of Nigeria (CBN) a day before, WorldRemit quickly adapted to the new requirements making it the first digital service to offer its customers worldwide the option of cash pickup in USD in Nigeria. WorldRemit enables Nigerians in over 50 countries around the world to support their family and friends in Nigeria. The decision by the Central Bank of Nigeria (CBN) to allow international money transfers to be paid in foreign currency, is aimed at providing increased liquidity in the foreign exchange market. The bank explained that the new regulation is part of its efforts to liberalize, simplify and improve the receipt and administration of diaspora remittances into Nigeria. Gbenga Okejimi, Country Manager, Nigeria and Ghana, at WorldRemit, said:“ We are

PPC Upgraded to ‘B’ with ‘Stable’ Outlook by S&P4.12.2020 15:16:00 CETPress release

In its annual research update released on 27 November 2020, S&P upgraded PPC’s stand-alone credit profile (SACP) upward by two notches to ‘B’ from ‘CCC+’, resulting in an overall upgrade of the long-term credit rating of PPC to ‘B’ from ‘B-‘. According to S&P the two notch upgrade in PPC’s standalone corporate rating confirms that the Company’s strategic repositioning and the improved Greek energy market fundamentals have transformed its competitive position, reducing past concerns over its liquidity and long-term sustainability. The ‘Stable’ outlook underscores S&P’s expectation that PPC will continue to deliver on its transformation plan, with solid liquidity and improved margins. PPC’s strategic plan to convert its generation mix toward lower carbon dioxide (CO2) emissions improve its fleet competitiveness and long-term prospects. As mentioned in their report, S&P expects a substantial increase in EBITDA and improvement in credit metrics on the back of higher profitability as PPC ac

Chengdu Launches Online Exhibition of History and Culture to Enhance Cultural Ties With European Countries4.12.2020 13:17:00 CETPress release

The launching ceremony of Chengdu History and Culture Overseas Virtual Exhibition was held by the Chengdu Chronicles Compilation Committee at Chengdu Chronicles Office on 24 November. The event, along with the unveiling ceremony of Chengdu Chronicles Culture Overseas (Europe) Exchange Cooperation, were witnessed by distinguished guests in many European countries including the Netherlands, Germany and Belgium through video and online connections. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201204005278/en/ On November 24, Gao Zhigang (center), Director of Chengdu Chronicles Compilation Committee at Chengdu Chronicles Office, and other guests attend the launching ceremony of Chengdu History and Culture Overseas Virtual Exhibition. (Photo: Business Wire) Chengdu History and Culture Overseas Virtual Exhibition will also be launched at major foreign media platforms for audiences all over the world. Gao ZhiGang, Director of Che

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom