Market-Leading Data Solutions
Gain accurate, differentiated, real-time understanding of exposure to write better risks, reduce frictional expense, and build consistency within your portfolio.
Improved Underwriting Performance with Location Intelligence
Learn how Hiscox improved their underwriting performance, and delivered strong growth, proactive collaboration, and efficiency gains
eBook: An Insurance Underwriters' Guide
Identify, connect, and surface the right data to quickly inform the best decisions with Location Intelligence.
A Data-Driven, Insight-Led Approach to Pricing and Underwriting
Location Intelligence API scales to help Covenant Underwriters rate several locations rapidly in real time
Importance of High-quality Data
Jordan Byk, Senior Director of Product Management, discusses the importance of high-quality data.
Oleiros, Portugal
Insight for Underwriting
RMS data solutions ensure you have the cat information exactly where it’s needed, with minimal technical overhead or latency.
Precision
Take advantage of accurate data at unprecedented resolution, for every major peril and geography.
Consistency
Apply the same insights to analytics across underwriting, capital management, and reinsurance purchasing for full consistency.
Speed to Insight
Make cat risk assessments without the latency of a cat model run to enable real-time underwriting insight and faster decision-making.
What is Possible? Rethinking How You Analyze Risk
The insurance industry deploys some of the world’s most sophisticated risk modeling. Insurance carriers use detailed, probabilistic risk modeling at the top-line portfolio level. However, high-volume underwriting may not always be able to benefit from the same elaborate risk models. Is it possible for insurance carriers to incorporate the best data to screen each risk — at speed and rigor — for superior underwriting results?
The Value of Data
Data products for each stage of the pre-bind underwriting process
Categories of Data Products and the Value of Their Insights
CORRESPONDING RMS DATA PRODUCT
INSTANT INSIGHT PROVIDED
Geocoding
Where is the risk located?
Exposure Data
What are its key attributes?
Hazard
Does this submission comply with my risk appetite?
Risk Scores
Which are my best submissions?
Loss Costs
Is premium adequate to cover the risk?
Value of insight
Consistent Insights
RMS Data provides unique, differentiated insight to the world’s largest portfolios. Now, you can leverage the same insights across your entire book of business.
Geocoding
Use precise location information to improve accuracy and relevance of analysis. RMS Geocoder is purpose-built for insurance applications.
Exposure
Accurate exposure data can prevent mispricing and adverse risk selection before it happens.
Hazard
A hazard is a condition, circumstance, or situation that makes a loss more likely to be suffered. Deep hazard insight drives better underwriting results.
Risk Score
Simplify interpretation of complex, big data catastrophe simulation with the RMS RiskScore.
Loss Costs
Uncover the true cost of insuring a risk and avoid miscalculations with RMS Loss Cost data.
Location Intelligence API
RMS Location Intelligence API brings the industry’s most trusted cat analytics directly to the point of underwriting, with a simple call.
SiteIQ
Assess a location’s risk to multiple perils and key third-party insights in seconds with this application.
Resources
Location, Location, Location: A New Era in Data Resolution
The insurance industry has reached a transformational point in its ability to accurately understand the details of exposure at risk. It is the point at which three fundamental components of exposure management are coming together to enable (re)insurers to systematically quantify risk at the location level: the availability of high-resolution location data, access to the technology to capture that data and advances in modeling capabilities to use that data. Data resolution at the individual building level has ...
The Data Difference
The value of data as a driver of business decisions has grown exponentially as the importance of generating sustainable underwriting profit becomes the primary focus for companies in response to recent diminished investment yields. Increased risk selection scrutiny is more important than ever to maintain underwriting margins. High-caliber, insightful risk data is critical for the data analytics that support each risk decision The insurance industry is in a transformational phase where profit margins continue ...
New Strategies Needed to Manage Mortgage Default Risk from...
In the early hours of January 17, 1994, a Mw6.7 earthquake struck northwestern Los Angeles, causing 57 fatalities and up to US$40 billion of direct damage. The Northridge event changed the insurance landscape dramatically. According to the Insurance Information Institute, the industry ended up paying out more in claims for Northridge than it had collected in earthquake premiums over the preceding 30 years. Insurers started limiting their earthquake exposure, writing fewer new policies, and increasing rates and d...
New RMS Data Solutions Deliver Real-Time, Site-Specific In...
NEWARK, CA – June 28, 2019 – RMS®, a leading global risk modeling and analytics firm, announced the availability of two transformative data solutions hosted on RMS Risk Intelligence (RI), its strategic risk platform. Expanding on its suite of strategic risk products, these solutions employ sophisticated RMS models and rich data layers built into the RMS platform. With growing pressure to make critical underwriting decisions quickly, speed and precision is everything. RMS Location Intelligence API and the SiteIQ ...
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