Welcome to our newsletter which we hope will keep you updated on our latest developments and provide you with some insight into our community.
Big Ticket Launches First Client-Facing 'Open Banking' Infrastructure for Insurance
Oasis is very pleased to be involved with Big Ticket. This does so much to improve, exposure data quality, reduce associated costs and help align to the needs of the corporate buyer. Sensibly, using Oasis curated Open Data Standards and in time will allow access to Oasis based models.
Big Ticket is a shared corporate data platform that will transform the $1TN global commercial insurance industry by revolutionising the ‘broken’ renewal experience for risk managers, brokers and carriers. (https://www.insurtechinsights.com/zurich-and-aon-backed-big-ticket-launches-following-four-years-rd/?utm_source=banner&utm_medium=Insurtech+Insights&utm_campaign=News&utm_id=Linkedin)
- Big Ticket is an industry-backed renewal data platform shared between clients, brokers and insurers.
- Client-first approach will radically improve the corporate customer experience, facilitate stakeholder management and empower innovation.
- Provides enhanced bank-grade data quality and security; putting clients in control of their data.
- Provided free-of-charge to any risk manager or insurance buyer, Big Ticket will deliver annual industry-wide operational savings at renewals of up to US$25 billion.
- Technology ecosystem was developed with founding partner Mastercard and Global Advisory Board members including Aon, Aviva, Oasis and Zurich.
The Launch of the Journal of Catastrophe Risk and Resilience
For those interested in promoting research into catastrophe risk you will be interested in the launch of:
The Journal of Catastrophe Risk and Resilience (JCRR) https://journalofcrr.com/about-us/
The JCRR is a diamond open-access interdisciplinary research journal with a broad remit encompassing natural hazards, catastrophe risk, and the societal and institutional response to their management. It publishes original research, reviews, and commentary from scientists, researchers, practitioners, and decision makers across academia and the private sector on a variety of topics including: the monitoring and modelling of hazards; exposure and vulnerability; catastrophe risk management and mitigation and adaptation strategy designed by governments, NGOs, and businesses.
The Journal aims to:
- Provide a forum for experts in both academia and industry to publish the methods and results of their research.
- Remove some of the barriers to publication erected by traditional academic journals.
- Foster a spirit of collaboration and methodological openness amongst industrial practitioners.
- Make relevant academics visible to an industry which can consume and utilise their research.
- Generate impact through the definition and maintenance of best practice.
- Command a dedicated readership amongst catastrophe researchers, model vendors, and academic geoscientists.
- Cultivate new avenues of interdisciplinary collaboration in academia to strengthen the link-fundamental to catastrophe risk research – between physics-and economics-adjacent fields.
Please get in touch if you want to know more.
RMSI Provide Extensive Nat Cat Analytical Services Using Oasis-Based Models
RMSI provides natural catastrophe (NatCat) risk analysis and climate change impact management solutions to governments, multi-lateral funding agencies and private companies. RMSI has provided Nat Cat solutions for more than 35 countries over the last three decades.
RMSI has also been supporting insurers in UK, US, Africa and SE Asia markets for their NatCat analytics and data cleansing needs. RMSI (erstwhile RMS subsidiary) underwent a management buyout in 2011, and is now an independent multi-national organisation offering services across the globe.
RMSI is an associate member of Oasis and provides on-demand, global multi-hazard NatCat risk analysis through Nasdaq's Risk Modelling for Catastrophes (NRMC) platform.
What does RMSI offer and how can their expertise help you adopt Oasis based modelling?
- RMSI will provide a holistic view of your global risk through multi-modal analytics.
- RMSI can provide detailed NatCat risk financial metrics that represent alternative views of your portfolio risk and review the appropriateness of your reinsurance program.
- RMSI can provide high quality data cleansing, enhancement and conversion services into the OED format enabling seamless usage of the multiple models on the Oasis platform.
- The RMSI pay-per-use subscription is flexible, avoiding long and rigid licensing agreements.
More details can be found at their website https://www.rmsi.com/
Oasis and the IDF Start Developing a Global, Open Access Exposure Model
Oasis, in conjunction with the Insurance Development Forum (IDF) is developing a new open access global exposure model.
The aim is to develop an insurance-grade exposure dataset available as a service for use by all sectors. It will be available in an open, online data portal, backed by a sustainable business model for curation and continuous development.
Top data layers will be free for public good, while future versions will create a marketplace for more granular data in which providers can be rewarded for their investment. It will need to be multi-line to include property initially, and infrastructure and agriculture in time.
Let us know if you would like to be involved.
Oasis Insight Conference in collaboration with the Swiss Re Institute
6th September 2023
Swiss Re Next Auditorium, Mythenquai 50/60, CH-8022, Zurich, Switzerland
Free to Attend
Agenda and registration here
Dickie Whitaker, CEO, Oasis LMF says:
"Our Zurich event, in conjunction with Swiss Re will continue our focus on transparency, standards and innovation. How Oasis can be practically used, what does data and hazard resolution mean for practical flood model use and how can we improve and standardise validation are some of the topics. We look forward to seeing many of you there, physically or virtually."
Beat Aeberhardt, Head of Cat and Geo Modelling, Swiss Re says:
"The Oasis conference hosted by Swiss Re is a fantastic opportunity for cat modelling enthusiasts to gain insights into the latest developments in Oasis, explore the growing range of vendor offerings in this field, participate in inspiring panel discussions relevant for the industry with well-known experts, and connect with the cat modelling community."
Please send us any thoughts, feedback, comments and questions via email.