GERMANTOWN, Md.--(BUSINESS WIRE)--Earth Networks today announced that RMS, the leading global risk modeling and data analytics company, will leverage Earth Networks real-time and historical weather data to more accurately model hurricane characteristics for its customer base of (re)insurance companies, utilities, financial institutions, corporations, governments, and other non-governmental organizations.
The Earth Networks Weather Network includes more than 10,000 exclusive weather stations and updates with live data every two seconds. Real-time and historical weather observation data from Earth Networks will be incorporated into standard RMS Event Response deliverables and the proprietary suite of RMS HWind products to enhance the quality of wind hazard footprints during and following the hurricane season. RMS HWind is the foremost provider of tropical cyclone wind field data, with observation-based data products for both real-time and historical wind field analysis in the western North Atlantic, Eastern Pacific and Central Pacific basins.
“Access to pinpoint real-time and historical weather data is critical to accurately model hurricane threats and more broadly the growing volume of severe weather outbreaks, which through early 2017 were occurring at twice the average rate of the past decade,” said Max Borges, Director, International Business Development, Earth Networks. “We are thrilled to announce this unique partnership bringing two industry leaders together, and better enable RMS to help financial institutions, public agencies and other organizations understand, quantify, and manage hurricane risk.”
The RMS HWind Real-Time Analysis products will leverage Earth Networks real-time weather data to inform tropical cyclone wind field analyses leading up to, during, and following landfall. This allows users to understand dynamic storm characteristics and anticipate where claims are likely to occur, while also informing accurate positioning of response and recovery assets and post-event loss assessments. Earth Networks’ historical weather data will be used within the RMS HWind Enhanced Archive to develop wind hazard metrics from a library of historical events, supporting validation efforts against modeled wind field characteristics throughout the (re)insurance industry. Both real-time and historical data sets will include wind and sea-level pressure data across several regions, including the United States, Canada, Mexico, the Caribbean, Bermuda and Central America.
“Earth Networks weather data is a valuable addition to the 40 different data sources that are currently incorporated into RMS HWind products,” adds Jeff Waters, product manager at RMS. “Having access to this network will help RMS take HWind analytics to the next level by potentially doubling the number of observations available post-landfall - offering our clients unprecedented insight into real-time and historical tropical cyclone wind characteristics, supporting more effective management of hurricane risk as a whole and a more accurate understanding of potential impacts when an event occurs.”
About Earth Networks
Earth Networks has been Taking the Pulse of the Planet® for more than 20 years. We help organizations mitigate financial, operational and human risk by providing environmental intelligence from the world’s largest hyperlocal weather network. Schools, airports, sports teams, utilities and government agencies rely on our early warning solutions to safeguard lives, prepare for weather events and optimize operations. Companies across all industries use our weather data to automate decisions regarding risk management, business continuity and asset protection.
RMS solutions help insurers, financial markets, corporations, and public agencies evaluate and manage catastrophe risks throughout the world. We lead an industry that we helped to pioneer—catastrophe risk modeling—and are delivering models, data, and risk management solutions on the RMS(one)® platform to transform the world’s understanding and quantification of risk through open, real-time exposure and risk management. More than 400 insurers, reinsurers, trading companies, and other financial institutions trust RMS solutions to better understand and manage the risks of natural and human-made catastrophes, including hurricanes, earthquakes, floods, terrorism, and pandemics.