RPS CAT Analytics provides in-house access to industry- leading modeling companies. With Risk Management Solutions’ (RMS) RiskBrowser, we can analyze U.S. properties’ exposure to the catastrophic perils of earthquake, hurricane and severe convective storm. RMS catastrophe models incorporate the latest science, over 30 years of dedicated catastrophe risk research and development, and partnerships with local institutions and leading regional experts. With the ever increasing risk caused by ﬂooding within the U.S., RPS CAT Analytics has licensed KatRisk’s SpatialKat model to quantify ﬂood risk from inland ﬂood and storm surge. KatRisk’s model is a high-resolution, event-based, probabilistic risk model for the continental U.S. that computes ﬂooding from all sources, including regional weather patterns, snowmelt, and hurricane-induced precipitation and storm surge.
Catastrophe modeling aids in the development of a comprehensive risk management and preparedness strategy by bringing attention to the potential outcomes of hazard events that may affect your insured’s portfolio. Through modeling and data analysis, we can identify where your insured needs to improve their data in order to accurately capture and assess risk. RPS CAT Analytics provides a comprehensive, consultative report for all stakeholders (insured, retailer, broker and carrier), which includes exposure summary tables, exposure map, top locations, average annual loss (AAL), probable maximum losses (PMLs) for key return periods, and top drivers of loss and hazard data, including noncertiﬁed ﬂood zones, distance to coast, distance to fault and liquefaction potential.
In 2019, RPS CAT Analytics modeled schedules that ranged from one location to over 50,000 locations, with our largest value in excess of $42 billion. These schedules consisted of some of the following top industries: public sector, real estate and hospitality, nonproﬁt, religious business, higher education, construction,
Let RPS Analytics Be Your Consultative Resource
- Validate your current program structure against the catastrophe modeling output
- Provide insights on both the strengths and weaknesses of your account
- Make recommendations on what additional data will help get your insured more competitive pricing and terms in the marketplace
Questions Cat Modeling Can Help Answer For Your Insured
- Are my catastrophe limits adequate? Should I buy more or fewer limits, and why?
- How can my program best be layered?
- What impact does increasing or decreasing deductibles have on my pricing?
- What locations are driving the losses, and how can I improve on these?
- How should the catastrophe premiums be allocated for a certain risk?
Benefits of Using RPS Analytics’ Catastrophe Modeling Capabilities
- Greater understanding of a portfolio’s key exposures and drivers of loss
- Evaluate current policy limits and layers
- Make more informed recommendations and decisions for the insured
- Increased marketing effectiveness and deeper relationships with your customers
- Pricing estimation and negotiation with carriers
- Use us as a tool for the acquisition of new business and retention of existing business