RMS launches new cat analysis tool

Risk Management Solutions (RMS) has released its new RMS RiskAnalytics operation.

RMS RiskAnalytics provides a team of analysts to perform catastrophe modeling activities as an extension of a company’s in-house department.

Lloyd’s syndicate, Pembroke Syndicate 4000, is one of the first organizations to take up the new service.

Roger Arnemann, vice president at RMS, said: ‘As catastrophe modeling becomes more sophisticated, insurers, reinsurers, and intermediaries are spending an increasing amount of time and resources on core catastrophe management functions.’

‘We calculate that the service can increase analyst productivity by more than 50%,’ he added.

Daniel Wood, divisional director at Pembroke, said: ‘Using the RiskAnalytics service allows us to keep control of the day-to-day management of our portfolio, while drafting in the expertise of the RMS team for more extensive data analysis. We gain access to sophisticated models and industry best practices, helping us to enhance our risk management procedures and meet regulatory reporting requirements, in a cost-effective manner.’