CoreLogic U.S. Earthquake model on Oasis
Modern insurance companies are under a number of pressures which are driving a change in the way they work, and this, in turn, is driving new demands of the modern model vendor.
In recent years, the low number of natural catastrophes combined with low returns from investment capital has created unprecedented pressures on insurers and reinsurers to do more with less. Even the catastrophes of 2017 and 2018 had little impact on the industry as a plentiful amount of alternative capital picked up the slack and downward pressure on rates was largely maintained. Hand in hand with this, there are pressures internally for cat modelling teams to add further value beyond ‘running models.’ ...[...]...
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