Catastrophe risk solutions company RMS and Tokio Marine Holdings have announced that they are expanding their global commercial partnership.
RMS models underlie Tokio Marine’s global view of natural catastrophe risk, and Tokio Marine entities have access to RMS RiskLink and HD models and RMS Risk Intelligence products. Through the partnership, RMS models, data and applications, as well as the RMS cloud platform, Risk Intelligence, can be used by Tokio Marine entities globally.
The relationship between the two companies spans more than 20 years. Tokio Marine partnered with RMS on the development of the Japan Earthquake and Japan Typhoon models.
In addition to RMS RiskLink models, Tokio Marine is also adopting the current suite of RMS HD models, which includes the Japan Typhoon and Flood HD Model and the Japan Earthquake and Tsunami HD Model.
“RMS has been an important strategic partner for many years and has consistently demonstrated its commitment to investing in better science and technology for the insurance industry,” said Kenji Okada, group chief risk officer at Tokio Marine. “We look forward to continuing and deepening this partnership over the years to come.”
“Tokio Marine has been a global market leader and valued partner to RMS throughout our longstanding relationship,” said Karen White, CEO of RMS. “The global risk market is growing more complex and interconnected. As we, together, tackle existing as well as increasing risks such as climate change and extreme weather events, systemic risks, clash risks, cyber, pandemic and infectious disease risks and other perils, meaningful collaboration and partnerships, coupled with leading-edge science and technology, are vital. We look forward to continuing our work with Tokio to ensure the deepest insights and views of risks, to optimise business outcomes and greater global resiliency.”