Posts Tagged ‘Models’



October 22nd, 2017

Interoperability: A case for open source - GC@BB Commentary

Posted at 8:15 AM ET

peter-hearn-2-sm1Peter Hearn, President & CEO

Contact

  • Industry-wide call for increased transparency in cat modelling
  • Interoperability facilitates collaboration of multiple data sources
  • Open source models allow insurers to develop own view of risk

Continue reading…

October 16th, 2017

Interoperability: A Case For Open Source - GC@PCI Commentary

Posted at 11:30 AM ET

peter-hearn-2-smPeter Hearn, President & CEO

Contact

  • Industry-wide call for increased transparency in cat modeling
  • Interoperability facilitates collaboration of multiple data sources
  • Open source models allow insurers to develop own view of risk

Continue reading…

October 16th, 2017

Flood Insurance: The 2018 Market Opportunity - GC@PCI Commentary

Posted at 8:30 AM ET

hayes_j_bio-sm1kulik-john-sm3Jonathan Hayes, Managing Director and John Kulik, Senior Vice President

Contact

  • The U.S. insurance industry is actively seeking new opportunities for growth in a challenging market by identifying untapped customer needs. The potential flood market is over five times the size of the most often mentioned new market, cyber insurance
  • Greater access to flood data and loss results and more reliable exposure modeling are enhancing the flood (re)insurance marketplace
  • Several developments are helping carriers understand and monitor aggregation

Continue reading…

October 10th, 2017

Industry Must Act to Avoid a “Kodak Moment”

Posted at 4:00 AM ET

In his first speech as Lloyd’s new chairman, Bruce Carnegie-Brown said the insurance industry must do more to change and innovate or run the risk of being disrupted by external players.

Continue reading…

September 25th, 2017

Guy Carpenter Advances Capital Modeling Capabilities with MetaRisk® 10

Posted at 3:30 AM ET

Guy Carpenter & Company today announced the launch of MetaRisk® 10, which significantly enhances automation, adds support for A.M. Best’s new stochastic-based Best’s Capital Adequacy Ratio (BCAR) and enables modeling of “hours clauses.”

Continue reading…

September 10th, 2017

Interoperability: A Case for Open Source - GC@MC Commentary

Posted at 12:30 AM ET

peter-hearn-2-smPeter Hearn, President and CEO

Contact

  • Industry-wide call for increased transparency in cat modelling
  • Interoperability facilitates collaboration of multiple data sources
  • Open source models allow insurers to develop own view of risk

Continue reading…

August 24th, 2017

Cat Modelling Challenges in Europe: Part IV

Posted at 1:00 AM ET

weatherhead_mark-sm3Mark Weatherhead, Head of Model Development - International

Contact

Flood poses particular challenges for modelling. In particular, the hydraulic modelling of flood extents requires a high-quality digital terrain model that has been processed specifically for the task by removing features like bridges.

Continue reading…

August 23rd, 2017

Cat Modelling Challenges in Europe: Part III

Posted at 1:00 AM ET

weatherhead_mark-sm2Mark Weatherhead, Head of Model Development - International

Contact

There are two main lines of development. First, (re)insurers need to gain a deeper understanding of how the existing commercial vendor models perform for their book of business, how the models can be best modified or customized to better reflect their own loss history, and how the models compare to each other. Second, (re)insurers need to continue to address gaps in knowledge that are not adequately covered by existing models.

Continue reading…

August 22nd, 2017

Cat Modelling Challenges in Europe: Part II

Posted at 1:00 AM ET

weatherhead_mark-sm1Mark Weatherhead, Head of Model Development - International

Contact

While there is still uncertainty regarding the degree of impact from climate change, the likely consequences are subject to modelling. Increasing global temperatures are projected to impact the mid-latitude and polar regions more than the tropics.

Continue reading…

August 21st, 2017

Cat Modelling Challenges in Europe: Part I

Posted at 1:00 AM ET

weatherhead_mark-sm

Mark Weatherhead, Head of Model Development - International

Contact

2016 marked the 60th year of the Monte Carlo Rendez-Vous. Since the first event in 1957 the insurance world has changed significantly, with economic and insured losses from natural catastrophes such as floods and hurricanes increasing dramatically.

Continue reading…