Huang & Associates Analytics Ltd. (HAA), a firm aiming to meet the insurance-linked securities (ILS) market’s demand for risk analytics solutions and advisory services, has launched two new tools for ILS investors, RAPID Pro and Deal Tracker.
As the insurance-linked investments and insurance-linked securities (ILS) market has grown and matured, there is an increasing need for specific software tools to better enable investors or ILS managers to understand, track and analyse their portfolios of ILS and reinsurance transactions.
To that end, HAA has launched these two products to help make ILS investors jobs easier, by providing the tools necessary to better perform tasks within their investment organisations or funds.
RAPID Pro builds on top of the foundation put in place by HAA’s first software platform for ILS investors, “RAPID” (Risk Aggregation Platform for ILS Decisions), offering a comprehensive software environment for pricing, underwriting, portfolio management and fair valuation of positions, for reinsurers and ILS fund managers.
Deal Tracker, meanwhile, offers users an intuitive workflow and collaboration tool, enabling organisations to design custom workflows, track transactions through their entire life cycle, facilitate communication between team members and capture institutional knowledge for all transactions over time.
Kevin Huang, founder and CEO of HAA commented on the launches; “HAA was formed to become a key global disruptive force through the use of data and analytics within the insurance and reinsurance industry. We aim to transform the risk analytics landscape and significantly increase transparency, competitiveness, and efficiency in this space. The release of RAPID Pro and Deal Tracker is the first step for us to realize our ambitious goal.”
RAPID Pro and Deal Tracker are built on web and cloud technologies, so have very small IT footprints, meaning support requirements for adopting organisations are minimal. Additionally, both of the products come with their own complete application programming interfaces (API’s), meaning integration with in-house software systems is simpler.
Huang explained; “We will continue to develop RAPID Pro and Deal Tracker to include more advanced features such as portfolio optimization, live cat analysis, more interactive reporting capabilities, artificial intelligence (AI) based underwriting and natural language processing for institutional knowledge capturing. I am very excited about the possibilities that these advanced systems can bring to this market, which has been profoundly challenged by the rapid transformation of the global economy and advancements in technology and predictive analytics.”
It’s encouraging to see new software products and service being launched to offer streamlined and simpler deal tracking and analytics coming to market. The growing ILS space needs to leverage technology to further increase the efficiency of its capital and tools such as these could assist ILS fund managers and investors in better managing their capital.
HAA explains the key features and uses of RAPID Pro and Deal Tracker as:
- True model agnostic framework where multiple models can be used to build proprietary views on risk
- Sophisticated simulation engine that balances accuracy and performance
- Modern portfolio theory based capital allocation methodologies for reinsurance pricing
- Easy to use interface to quickly perform portfolio analytics and generate comprehensive reports (including detailed simulation results)
- Robust framework for fair valuation of individual reinsurance deals regardless of the form (bond, fully collateralized, or traditional)
- Complete end-to-end solution that can meet the requirements for underwriting, risk selection, portfolio management, accounting, and strategic planning