Risk modelling news

Karen Clark & Company (KCC), the catastrophe risk modelling specialist, has launched RiskInsight® Version 4.15, the latest version of its RiskInsight open loss modeling platform, which introduces advanced performance and system enhancements to accelerate and streamline risk analysis for insurers, reinsurers, and insurance-linked securities (ILS) managers.

Catastrophe risk modelling specialist Karen Clark & Company (KCC) has announced the hiring of former Verisk Executive Dr. Milan Simic, who joins the firm as Global Strategy Advisor.

Catastrophe data aggregator PERILS AG has expanded its real-time industry loss forecasting software tool, known as Wind-Jeannie, to cover typhoon events in Japan and has also updated the existing loss forecasting tools for Europe and Australian perils.

Aeolus Capital Management Ltd., the specialist insurance-linked securities (ILS) and reinsurance investment manager, is researching and working with artificial intelligence tools to see how the technology can add detail to modelling of perils and aid in making risk selection decisions.

Technology advancements promise to transform modelling and analysis of weather and natural catastrophe perils and Planette, a company focused on long-range weather prediction technology, is aiming to provide more accurate forecasts and detect severe weather events weeks to six months in advance using its QubitCast system.

Stefano Nicolini, a well-known specialist industry loss warranty (ILW) focused reinsurance broker, has joined Moody’s broker and insurance-linked securities (ILS) focus team as a Director of Sales, where he will be tasked with helping market participants utilise Moody’s catastrophe models and technology solutions.

Findings from a new survey released by broker Aon has highlighted a significant gap in catastrophe model utilisation, which can ultimately impact how re/insurers assess risk, structure capital and respond to disaster scenarios.

Reask, the catastrophe modelling and climate analytics specialist, has announced that it has launched a new alert service that gives insurers and catastrophe modelling teams early, region-specific insight into developing storms using advanced windfield forecasting.

CyberCube, a specialist modelling firm for cyber risks and exposures, has launched Portfolio Manager Version 6 (PMv6), the latest version of the organisation’s catastrophe model that empowers portfolio-level insights.

Underscoring the potential impacts of climate change across the insurance-linked securities (ILS) market, ILS specialists at global asset management group Schroders have suggested that ILS managers should recalibrate risk assessments to reflect the climate change that has already occurred, and not just long-term projections.