RMS boosts North America and Asia-Pacific capabilities

RMS boosts North America and Asia-Pacific capabilities | Insurance Business

RMS boosts North America and Asia-Pacific capabilities

RMS has stepped up its capabilities in both North America and Asia-Pacific regions, with several updated models and appointment of a regional executive. The models will be delivered on version 18.1 of RiskLink and RiskBrowser, RMS’ risk management software.

In North America, the company has refreshed its North Atlantic hurricane models, with updates to long-term and medium-term hurricane event rates, new historical event reconstructions from recent seasons, and vulnerability enhancements based on new data and research by RMS. The update is compliant with the hurricane standards of the Florida Commission on Hurricane Loss Projection Methodology, and provides the re/insurance market with an expansive suite of modelling tools and a timely view of the Atlantic hurricane risk landscape. RMS has also updated geocoding for all US models in version 18.1.

Meanwhile, in Asia-Pacific, RMS released earthquake models for Taiwan and five Southeast Asian markets – Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam. According to a statement by the risk modelling firm, the model updates incorporate RMS’ latest methodologies and reflect the latest research on hazard, vulnerability, and financial modelling enhancement. These build on the enhancements made in version 17 in 2017, incorporating new and expanded market data, market feedback, and improved data sets.

“We have continued to build and develop our model offering in this important region across over the past years as can be seen in the new models and model updates,” said Mohsen Rahnama, chief risk modeling officer, RMS. “Version 18.1 is a further proof point that the RMS model suite stays abreast of the latest science, methodologies and technology in risk analysis. RMS is committed to delivering the best quality models and science to the market and V18.1 delivers on this.”

Managing director for Asia and Japan appointed
RMS announced the appointment of Andy Woodhouse has been appointed as managing director for Asia and Japan, based in Hong Kong.

Woodhouse joins RMS from banking software firm Temenos, where he was regional services director. Prior to that, he was head of product and business development at Bloomberg, and managing director at Real Time Systems, a global financial technology firm. His previous work experience includes managing director at SunGard Global Services, banking industry director at Oracle, and director of financial management solutions at Peoplesoft.

“Asia-Pacific is a critical growth area for RMS and our clients,” said Neil Isford, executive vice president, RMS. “This is reflected in our commitment to not only delivering and updating an increasing suite of models for the region, but also in the caliber of the staff we have working with clients. Andy has over 20 years of experience in successfully building teams across this region to sell and implement software-based solutions, and I know that his experience and enthusiasm will be of great benefit to all our Asia-Pacific clients.”