Insuranceciooutlook

New Data Solutions Uniquely Enables Insurers with Superior Business Decisions

By Insurance CIO Outlook | Friday, July 12, 2019

Data solutions in the insurance sector are supporting business decisions across underwriting, risk selection, mitigation, and portfolio management.

FREMONT, CA: RMS, a leading global risk modeling and analytics firm introduces its two transformative data solutions hosted on RMS Risk Intelligence (RI), its strategic risk platform. These innovative solutions—expanding RMS’ suite of vital risk products—employ advanced RMS models and rich data layers built into the RMS platform. 

For organizations to be successful and competitive in the dynamic insurance industry, it’s an absolute no-brainer that they must leverage upon big data and analytics. Data solutions allow for insights that play a pivotal role in helping insurance companies solve some of the biggest challenges that have been plaguing the industry. RMS data solutions provide real-time, site-specific insights to enable competitive risk selection and profitable underwriting. Through the RMS suite of data solutions, underwriters can decline or cede risks that don’t meet their risk appetite, price more accurately and avoid adverse selection.

Backed by industry-leading model science, RMS data solutions can be integrated into any underwriting workflow to enable better screening, risk selection, and pricing decisions. It is purpose-built for speed and can accommodate straight-through processing of personal lines and underwriting of high-value properties. The data, precompiled from multiple model simulations, is securely hosted on the RMS platform and optimized for speed, to enable fast quoting.

RMS models and solutions support insurers, financial markets, corporations, and public agencies evaluate and manage global risk throughout the world. Many insurers, reinsurers, financial institutions, corporations, governments, and other non-governmental organizations trust RMS models, technology, and services to better understand and manage catastrophe risks across the world.

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