The world of risk modelling moves quickly, particularly due to advancements in computer technology. As more computer resources can be harnessed and made available to run risk models on the granularity and accuracy of resulting reports grows and the data returned to insurers and reinsurers becomes more reliable.
Risk Management Solutions (RMS) have announced a new leap forward for their risk modelling solutions as a result of them implementing a high performance computing solution. The new solution which they call Enterprise Grid Computing ‘allows computing resources to be used much more efficiently across the organization, with more flexible job and resource management and faster analysis run times providing higher productivity and deeper insight into modeled results‘.
This allows insurers and reinsurers to run more analytical cycles with higher quantities of data than ever before. RMS say this will give them greater insight into their portfolios and the ability to test exposure assumptions against their portfolios.
As risk modelling is critical to the risk transfer markets any advancement such as this will inevitably have knock on benefits for market participants. It’s becoming more and more important to investors in instruments such as catastrophe bonds to be able to feel confident in the risk modelling undertaken for a transaction. As risk modelling processes advance that level of confidence should grow.
Read more about the new product in this press release.
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