Offering eliminates need for copying data
Risk Management Solutions has launched the Wholesale Broker RiskBrowser® platform, a system that provides access to RMS’ industry-leading catastrophe risk models in a format specifically tailored to the needs and resources of wholesale brokers.
The platform allows users to analyze specific catastrophic exposures on behalf of retail brokers and their insureds. The platform provides hazard information for each insured location and runs exposure data through the RMS U.S. Hurricane and Earthquake models.
It automatically creates a complete risk assessment report that includes detailed exposure analysis, hazard data analysis, and modeling results.
David Stevoff, chief operating officer of Colemont Insurance Brokers said the development would allow brokers to add significant value to their retail partnerships.
He said: "By equipping retailers and insureds with information that has not historically been available to them, Colemont will now help insureds better understand their exposures, while simultaneously helping our retail partners utilize available capacity."
RiskBrowser delivers risk assessment reports in a format that eliminates the need for copying, pasting or reformatting data. In addition, the models are installed and maintained on RMS-hosted servers, accessible via a secure Internet connection.
Licensed users need only install a small file on their computers to use the system.
Scott Quiana, vice president of the Americas insurance practice at RMS, added: "We are sensitive to the demands of the wholesale insurance transaction, and believe that catastrophe risk assessments offer an invaluable, easy-to-access resource.
"Until now, wholesale brokers have not had the opportunity to leverage catastrophe risk models for the benefit of their clients; with this solution we are seeking to change that."
