What's New on the Moody’s RMS Intelligent Risk Platform

Offering an open, modular, and cloud-native digital foundation for Moody's RMS models, data, applications, and unified risk analytics, Moody’s RMS Intelligent Risk Platform™ (IRP) delivers the flexibility to continually introduce and roll out innovative new products to the market.

When new collaborative applications are added to the IRP, they benefit from the platform’s robust risk analytics and in-depth risk data, as the IRP brings together a trusted data repository, and open application programming interfaces (APIs) to help deliver better business outcomes.

During February, we made several big improvements for two of the IRP applications, including Risk Modeler™ and ExposureIQ™. Let’s dive into some of the updates.

ExposureIQ

Creating Custom Map Layers for Target Locations with Specific Area Accumulations

Within ExposureIQ, users can now create custom map layers containing target locations, such as embassies, major hotels, or ports, to find exposure around a specific location.

Once the exposure is identified this latest release also includes ‘Specific Area’ accumulations to quantify the exposure, calculated by applying damage factors for each custom damage band (radius) encircling a target.

These custom map layers will soon be expanded – exclusive to ExposureIQ, to enable the upload of custom shapefiles to display on the map and to view accumulations.

By running a specific area accumulation, ExposureIQ users can identify the exposure within targets on a custom map layer based on different damage factors applied to each target’s damage bands. This type of accumulation analysis is typically used for terrorism and other concentrations of risk around specific targets.

New Damage Factor Filters

Flexibility around damage settings in ExposureIQ has increased to enable users to create more sophisticated accumulation scenarios. Using these more flexible damage settings helps ensure existing accumulation scenarios are more realistic by applying damage based on primary characteristics, or for non-modeled regions, flexible scenarios can be created based on the hazard and the primary characteristics.

Measure Distance on the Map

When viewing locations on a map in ExposureIQ, you can now measure the straight-line distance between two locations or a location and an event/target.

This helps you understand the distance between a location being considered for underwriting and an accumulation event, another insured location, or a geographical feature.

Risk Modeler

New Profile Settings for Risk Modeler

In the latest Risk Modeler update, analysis settings have been enhanced to include new default and individual model settings to improve the analysis workflow. This makes it easier to save and access model parameters used for day-to-day analyses.

Risk analysts and portfolio managers can now configure their profile settings to suit their own analyses. Catastrophe modelers can now also configure their own settings as well as apply tenant-level analysis settings to all users.

These new profile settings streamline and accelerate access to the corporate view of risk and help drive more consistency in how risk is analyzed across the organization.

Join our IQ Application Preview Programs

Have you signed up for the IQ Application Preview Program? We are looking for clients who would like to provide feedback on some of our new Moody's RMS underwriting solutions, including a preview program to test Moody’s RMS UnderwriteIQ™ application and Business Hierarchies in ExposureIQ.

If you join the program, you’ll have the opportunity to test and influence the roadmap for the following solutions:

UnderwriteIQ: Built for insurance underwriters looking to integrate Moody’s RMS deep science and modeling into their underwriting and risk pricing strategy, UnderwriteIQ delivers flexible, powerful account-level modeling capabilities with low latencies.

A cloud-native and collaborative underwriting analytics solution, it is fully integrated with Risk Modeler to help understand the marginal impact on a portfolio and other Intelligent Risk Platform applications.

ExposureIQ Business Hierarchies: ExposureIQ currently provides powerful accumulation analytics and real-time event response capabilities.

With the addition of Business Hierarchies, exposure managers can get a complete view of exposures across multiple books in a rolled-up view and can quickly identify organization-wide exposures across both insurance and reinsurance entities, to improve portfolio management decisions. 

Backed by the sophisticated Moody's RMS financial model, customers will soon be able to apply complex inward and outward reinsurance structures for a true view of net reinsurance right up to the group level.

Over the next couple of weeks, customers will have the opportunity to preview these applications for feedback. If you are interested, please contact preview@rms.com.

For additional information on Risk Modeler, ExposureIQ, or any of the IQ applications on the IRP, please visit the Intelligent Risk Platform webpages. You can also access release notes on Support Center – the Moody’s RMS client support portal.