A.M. BestTV: Users of Sophisticated Risk Models Can Add Own Data to Mix

OLDWICK, N.J.--()--In this A.M.BestTV episode from the Risk Management Solutions, Inc. (RMS) Exceedance 2016 Conference in Miami, FL, attendees said advances in risk modeling is quenching the appetites of users who now have more opportunity to include their own data and experiences. Click on http://www.ambest.com/v.asp?v=rms1516nc to view the entire program.

“Risk modeling has become a lot more sophisticated and users of catastrophe modeling have become a lot more demanding,” said Christopher Folkman, director of project management, RMS. “This is in terms of wanting to customize the model results and to better understand all assumptions that are going into the models, which would allow them to use the models in much more detailed ways in order to add value to their business process.”

Imelda Powers, global chief catastrophe modeler, Guy Carpenter & Company, LLC, said, “everybody is paying more attention to the data, along with the quality of the input, which is getting better and is having a bigger demand on the transparency of the models.” She also said that users are asking for more robust model analysis.

Other people who appear in this episode include:

  • Ben Brookes, vice president, capital markets group, RMS;
  • Matt Nielsen, senior director, global governmental and regulatory affairs, RMS; and
  • Tom Sabbatelli, product manager, RMS.

Full-length interviews are available as well. Go to http://www.ambest.tv/rms16 to see all the interviews, which includes a discussion with Mark Hope, catastrophe analyst, TigerRisk Partners and Robert Muir-Wood, chief research officer, RMS.

Recent episodes of A.M.BestTV include:

  • Global Reinsurers Face Challenges: A.M. Best’s Robert DeRose, vice president, and Greg Reisner, assistant vice president, review factors shaping today's reinsurance environment, including investment returns, rates, reserving, capital market competition and catastrophe activity: http://www.ambest.com/v.asp?v=bcm516.
  • Information Tsunami Powers Rise of Chief Risk Officers: Attendees at the Ultimate Risk Solutions Conference said advances in technology, demands for more detailed reporting and mounting compliance requirements are elevating the role of chief risk officers in insurance organizations: http://www.ambest.com/v.asp?v=urs516.
  • Losses From Alberta Wildfires Could Impact Canadian Property/Casualty Industry: Raymond Thomson, senior financial analyst, A.M. Best, reviews the insurance impact of the ongoing fire near Fort McMurray, Alberta, CN: http://www.ambest.com/v.asp?v=canadafire516.
  • Rapidly Advancing Robotics World Presents New Risk Issues: Experts outline underwriting and coverage issues faced by the insurance industry due to the growth and increased sophistication of robotics: http://www.ambest.com/v.asp?v=robotics516.

A.M.BestTV covers exclusive A.M. Best information and reports, targeted topics and key developments in the (re)insurance industry every Monday, Wednesday and Friday. Sign up for alerts of episodes at http://www.ambest.com/multimedia/ambtvsignup.html. View A.M.BestTV episodes at http://www.ambest.tv.

A.M. Best is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2016 by A.M. Best Company, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

A.M. Best
Lee McDonald, +1-908-439-2200 ext. 5561
Group Vice President, Publication and News Services
lee.mcdonald@ambest.com

Contacts

A.M. Best
Lee McDonald, +1-908-439-2200 ext. 5561
Group Vice President, Publication and News Services
lee.mcdonald@ambest.com