RMS Expands Global Risk Views Coverage

Rhea-AI Summary

RMS, a Moody's Analytics company, announced the launch of new global views for acute and chronic perils, addressing climate change impacts. This enhancement broadens RMS's existing peril and climate change models, offering detailed insights for portfolio management and risk mitigation. The new models will support analyses of event frequency, severity, and will include chronic risks like drought and sea-level rise. With these developments, RMS aims to meet the growing demand for risk insights from various industries, enhancing applications on its Intelligent Risk Platform.

Positive

• Launch of new global views enhances existing risk modeling capabilities.
• Addresses acute and chronic perils, including climate change impacts.
• Supports industries such as banking and insurance with detailed risk insights.

Negative

• None.

NEWARK, Calif.--(BUSINESS WIRE)-- RMS^®, a Moody’s Analytics company and world-leading risk modeling and solutions company, announces it will be launching new global views for acute and chronic perils and their climate change impact. RMS already offers a range of regional peril and climate change models, which support detailed acute physical loss modeling products, as well as data products covering hazard and risk scores, and loss costs for individual locations, across multiple time horizons. RMS climate change models and data products have been welcomed by the market, and allow users to stress test portfolio management, risk mitigation, and adaption strategies.

The newly announced global views significantly extend RMS’s peril and climate change impact coverage to provide fully correlated global views of risk, and include event frequency and severity, and analysis for current baseline and future climate views. With these new global views, RMS not only delivers a view of risk for acute peril-specific risks, but also chronic risks such as drought, heat stress, water stress, and sea-level rise.

This global peril coverage will enhance RMS’s applications on the Intelligent Risk Platform™ with the Risk Modeler™, ExposureIQ™, TreatyIQ™, SiteIQ™, and UnderwriteIQ™ applications delivering global insights in the future.

Michael Steel, General Manager, RMS, said: “We are continuing to see growing demand for risk insights on acute and chronic perils and climate change, from investors and corporations across many industries such as banking, commercial real estate, and insurance. The effects of these risks will unfold over many years and will have many direct and indirect implications for both industry and society. We firmly believe that long-term strategies and decision making can only benefit from detailed and analytical insight into hazard and risk impacts for present and future climates.”

END

About RMS

Risk Management Solutions, Inc. (RMS) a Moody’s Analytics company, shapes the world’s view of risk for insurers, reinsurers, financial services organizations, and the public sector. We empower organizations to evaluate and manage global risk from natural and man-made catastrophes, including hurricanes, earthquakes, floods, climate change, cyber, and pandemics. RMS models underlie the nearly US$2 trillion Property & Casualty industry and many insurers, reinsurers, and brokers around the world rely on RMS model science.

RMS helped pioneer the catastrophe risk industry, and continues to lead in innovation by offering unmatched science, technology, and 300+ catastrophe risk models. Leaders across multiple industries can address the risks of tomorrow with the RMS Intelligent Risk Platform™, the only open cloud with collaborative applications and unified analytics that can power risk management excellence across organizations and industries.

Further supporting the industry's transition to modern risk management, RMS spearheaded the Risk Data Open Standard (RDOS), a modern, open-standard data schema designed to be an extensible and flexible asset within modeling/analysis systems.

RMS is a trusted solutions partner, enabling effective risk management for better business decision-making across risk identification and selection, mitigation, underwriting, and portfolio management.

© 2022 Risk Management Solutions, Inc. RMS, the RMS logo, and RMS Risk Intelligence are trademarks of Risk Management Solutions, Inc. All other trademarks are property of their respective owners.

Visit RMS.com to learn more and follow us on LinkedIn and Twitter.

RMS is a subsidiary of Moody’s Corporation (NYSE: MCO) and operates as part of the Moody’s Analytics business segment. Moody’s Analytics is operationally and legally separate from the Moody’s Investors Service credit rating agency.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220519005065/en/

Matthew Longbottom

+44 7584 333485

PRTeam@rms.com

Haggie Partners

+44 (0)20 7562 4444

rms@haggie.co.uk

 

Source: RMS

FAQ

What new features has RMS announced for climate change risk modeling?

RMS announced the launch of enhanced global views for acute and chronic perils, including detailed insights on climate change impacts.

How do RMS's new global views impact risk management?

The new global views provide comprehensive risk insights, including event frequency and severity, aiding in portfolio management and risk mitigation.

Which industries are expected to benefit from RMS's new risk models?

Industries such as banking, commercial real estate, and insurance are expected to benefit from the new risk models and insights.

What are chronic risks included in RMS's new analysis?

Chronic risks covered include drought, heat stress, water stress, and sea-level rise.

How does RMS's Intelligent Risk Platform integrate the new developments?

The new global views will enhance several applications on the Intelligent Risk Platform, including Risk Modeler and ExposureIQ.