Catastrophe risk modeling firm AIR Worldwide announced that it has released Touchstone Re, a new catastrophe modeling software application designed for estimating the loss potential of reinsurance contracts and portfolios, industry loss warranties, and insurance-linked securities.
AIR Worldwide said Touchstone Re, a successor to CATRADER, enables companies to:
- Model and price complex reinsurance structures,
- Understand where their exposures are concentrated around the globe in a visually intuitive way,
- Roll up their portfolios and view their overall risk aggregation,
- Leverage AIR’s Industry Exposure Database to benchmark their portfolio risk relative to the industry and
- Estimate loss potential when detailed exposure data may not be available.
Organizations that also license Touchstone will now be able to transfer loss results into Touchstone Re with just a few clicks, thus enabling users to access data quickly by line of business down to subarea resolution, without having to export it manually from one application and import it into another, said Boston-based AIR Worldwide, which is a Verisk subsidiary.
In addition to releasing Touchstone Re, AIR updated its flagship catastrophe risk modeling platform, Touchstone, to include enhancements that enable users to perform new analytics, customize the software, and improve and simplify users’ workflows. These enhancements include support for zone-based analytics for detailed loss modeling, improved management of Touchstone projects and data transfer between companies, an extensive refresh of the user interface, and the ability for clients to build and use custom models.
According to Sudhir Potharaju, senior vice president, product, at AIR Worldwide, Touchstone Re only incorporates the key functionality from CATRADER and also includes new features across core reinsurance pricing and portfolio management workflows while being a more scalable application with a new user interface and streamlined navigation.
“Touchstone Re is not just a new user interface on an established application,” Potharaju said. “By saving multiple loss perspectives simultaneously and running portfolio analyses up to 75 percent faster, Touchstone Re can save users significant time, leaving them free to interpret their results and make more informed risk management decisions.”
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