Welcome to our newsletter which we hope will keep you updated on our latest developments and provide you with some insight into our community.
A ransomware model will be available in Oasis by the end of 2023
Oasis are excited to announce that they are working towards the availability of an open-source ransomware model within the next six months. The model is being funded by the Lighthill Risk Network and will be free to use for the first year.
The model is being developed by Concinnity Risks where CEO Eireann Leverett says:
"Ransomware is a pernicious threat, classified as a threat to national security in a recent White House report. However, there's a group of people who believe it can be modelled with multi agent processes. The key insight is that different ransomware groups across the last decade have produced very different loss profiles. This is often ignored in current modelling approaches which treat all ransomware with the same severity curves.
A team from Concinnity Risks was recently granted Lighthill Risk Network funding to build a framework for modelling the ransomware peril, and trying to get to grips with the global frequency and severity of it. They will do this for different ransomware threat actors, and load them into Oasis for modelling and counter factual analysis with an aim to understanding the dynamism of both the frequency and the severity economics."
You can now access Oasis-based models through Moody's RMS Intelligent Risk Platform
Following the announcement Moody's RMS made at their Exceedance Conference in New York on 9th May, Oasis are really excited to support their integration initiative to access Oasis-based models through the RMS Intelligent Risk Platform.
Users of the RMS platform will be able to access and execute Oasis-based models through Nasdaq's Risk Modelling for Catastrophes (NRMC) interface via an API (application programming interface). This seamless approach will significantly expand the market to those models currently on the Oasis platform while providing an efficient and interoperable option to extra views of risk for users of RMS models.
Dickie Whitaker, Chief Executive, Oasis Loss Modelling Framework says:
"Oasis was established to increase choice in catastrophe modeling; it also has a key role to curate and promote standards. It is clear that this move will help both of those goals. The Nasdaq agreement helps create a trusted environment and independence for all model providers, as well as protecting individual model intellectual property. Equally, because Moody’s RMS is using standards encompassed by Oasis open-source software, this will help support the functions that Oasis exists to perform.”
Save the Date
Oasis Insight Conference in collaboration with the Swiss Re Institute
6th September 2023
Swiss Re Next Auditorium, Zurich, Switzerland
More Details can be found here
Oasis are aiming to host events in Bermuda, Paris, London and Zurich in 2024 so keep an eye out!
Oasis Insight London - Presentation Material and Photos
Following the successful Oasis Insight conference in London in May, the presentation materials and some event photos are now available in our Information Library on our website here.
Webinar on the 'Fundamentals and Benefits of Using Oasis LMF' - 29th June at 3pm (UK time)
Oasis will be hosting an online webinar aimed at those with little or no knowledge of the key components and benefits of using Oasis LMF.
The webinar will cover the following:
- Background and aims of Oasis LMF
- How to run models in Oasis and what open access models are available
- Installation and deployment options
- Open Data Standards (ODS)
Please send us any thoughts, feedback, comments and questions via email.