Enhance your catastrophe management strategy and operations after assessing your risk and your business maturity.
Focus on What Matters Most
Assessment projects measure your baseline – whether it is your risk profile, the quality of your exposure data, or your business processes. With a baseline established, you can identify opportunities and prioritize your attention and investment on what matters most.
Differentiate Your Business
Extend and tailor your strategy in a way that reflects your unique risk and business profile and your internal expertise. A differentiated view of risk will help you outperform and set you apart from peers.
Build Confidence and Reduce Uncertainty
An assessment project helps you formulate any business plan by providing the quantified benefits and actionable steps to execute your plan with confidence and optimally manage risk.
A Mature Approach to Exposure and Catastrophe Risk Management
IRB Brasil Re has a history of reinsurance market leadership in Latin America and continues to maintain that position in nine of its 11 business lines, while also growing to be among the 10 largest reinsurers in the world in market value. Looking ahead, international expansion and achieving greater efficiency across risk and exposure management processes are core to maintaining and expanding market position.
Getting Ahead of the Curve on Data Quality
Incomplete or inaccurate data assessment can bias model results. In our latest Illustrate case study, we look at how Moody's RMS worked with Securis to enhance the quality of its cedant-provided data.
Taking the Guesswork out of Climate Change Metrics
The insurance industry is getting familiar with the brave new world of climate change metrics. Regulators and stakeholders are asking questions about the impacts of climate change in terms of increased losses on their portfolios – be it insured losses or reductions in asset values. From the U.K. Prudential Regulation Authority (PRA) Climate Biennial Exploratory Scenario (CBES) to the Task Force for Climate-Related Financial Disclosures (TCFD), (re)insurers are having to rapidly adapt and respond to requests for ...
Insurance-Linked Securities: Demonstrating Resilience Thro...
Despite being a relatively new asset class, the insurance-linked securities (ILS) market has had its fair share of milestones when it comes to the spreads available at issuance. Spreads are defined as the “coupon,” or interest payments, that are in excess of a high-quality or risk-free collateral return. Figure 1 charts the average coupon/expected loss multiple for catastrophe bond transactions issued each year from 1997 to the present day. This shows the multiple of the expected loss that investors are receivin...
Defining an Analytics Strategy to Scale Your Business
It is a constant challenge for any fast-growing business to ensure that their systems and processes continually evolve, to improve efficiency and decision-making and enhance customer experience. As a sector which has seen rapid expansion, insurance-linked securities (ILS) businesses understand these growing pains. When the business grows, so does the complexity—stakeholder demands and associated reporting increases, and the need for strong analytics and effective risk modeling really comes into play. I recent...
Bank of England CBES: Five Thoughts on Tackling Climate Ch...
The Bank of England’s Climate Biennial Exploratory Scenario (CBES) exercise launches in June, with submissions required by the end of September 2021. Less than four months remain until the official launch, so the Bank of England (BoE) is engaging early with invited insurers and banks to ensure they understand the direction and scope of the assessment. Announced in December 2019, the BoE’s stated objective for the CBES is “to test the resilience of the current business models of the largest banks, insurers, an...
Risk Maturity Benchmarking Example: IRB Brasil Re
In our previous blog post, we reviewed how RMS has developed Risk Maturity Benchmarking, a tool to help clients understand their current processes and maturity and create a blueprint for improvement tied to their business strategy. In 2017, RMS conducted a Risk Maturity Benchmarking (RMB) study for IRB Brasil Re – click here to read the full case study, to assist IRB on the implementation of their three-year transformation plan. The IRB Transformation Plan objectives were closely aligned to...
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Risk Maturity Benchmarking: Riding the Wave of Change
Helping clients through the evolution of catastrophe modeling is a core mission for RMS Consulting. To assist in the process we have developed a tool called Risk Maturity Benchmarking, which we’ll introduce below, that helps our customers do this. Secondly, we will review an example where we have applied this framework with a client to create their own target operating model for catastrophe risk. I don’t believe we would have achieved what we have if we had not first undertaken the RMB study Luis Brito, he...
Identify Issues and Opportunities for Growth