Karen Clark & Company (KCC), the catastrophe risk modelling specialist, has launched RiskInsight® 4.16, the latest version of its RiskInsight open loss modeling platform, which introduces advanced performance, automation, and scalability enhancements for insurers, reinsurers, and insurance-linked securities (ILS) managers.
As per KCC, the update expands workflow automation through enhanced API capabilities, provides faster analysis performance, and significant reductions in database storage requirements.
RiskInsight’s extensive API suite supports integration with modeling, underwriting, and portfolio management systems, which enables re/insurers and ILS managers to integrate the KCC models into existing workflows.
“Version 4.16 expands those capabilities with new API endpoints for result set management, automatic application of reinsurance treaties within analysis workflows, and automated characteristic event (CE) profile generation. The release also introduces an extensive set of Importer API endpoints that automate the import process entirely, from uploading source exposure data to managing and monitoring ongoing portfolio import jobs,” KCC explained.
“These enhancements streamline portfolio import, processing, and analysis while supporting deeper integration with existing analytical and operational workflows,” KCC added.
A number of ILS managers and reinsurance firms utilise KCC’s catastrophe models to assess and price risk, which makes these improvements highly valuable for real-time decision-making within the evolving risk landscape.
KCC further noted that Version 4.16 introduces considerable performance improvements, whereby newly generated results databases demand substantially reduced storage capacity.
This storage reduction consequently decreases operational infrastructure costs, facilitates more extensive analytical operations, and reduces storage requirements without sacrificing result resolution.
KCC also confirmed that the update also enhances modeling capabilities through the incorporation of Extended Replacement Cost, Guaranteed Replacement Cost, and Building Actual Cash Value endorsement options, complemented by strengthened capabilities for Roof Actual Cash Value.
New reporting functionalities, encompassing account-level and user-defined results will also provide enhanced analytical precision for portfolio analyses and aggregation.
Marshall Pagano, KCC Vice President, commented: “RiskInsight 4.16 represents a significant advancement in automation, performance, and scalability. The platform’s extensive API capabilities help (re)insurers automate critical modeling workflows, integrate RiskInsight more deeply into their existing systems, and manage large portfolios with greater efficiency.”
Karen Clark, KCC CEO, said: “RiskInsight continues to deliver the transparency, flexibility, and computational power required by today’s (re)insurers and ILS investors. This update reflects our commitment to combining advanced catastrophe modeling technology with the automation, integration, and scalability organizations require to support efficient risk management workflows.”
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