Risk Management Solutions Releases New Versions of RiskLink, RiskBrowser

Newark, Calif.-based Risk Management Solutions (RMS), a leading provider of products and services for the management of catastrophe risk, announced new releases of RiskLink, its core catastrophe modeling software application, and RiskBrowser, its Internet based underwriting system for property insurance. Among other enhancements, the new releases — RiskLink 4.4 and RiskBrowser 4.4 — incorporate new risk metrics that are designed to give users a more complete view of account and portfolio risk.

The RiskLink and RiskBrowser applications are the primary access points to RMS’ catastrophe risk models and expertise, supporting risk selection, pricing, portfolio management and risk transfer. RiskBrowser delivers multiple-line account and location level data capture, geocoding, hazard identification and catastrophe modeling capabilities to underwriter desktops.

The new releases include Tail Conditional Expectation (TCE) as an additional Probable Maximum Loss (PML) metric to analyze account and portfolio risk. TCE analyzes the PML of an account or portfolio by looking at the weighted average of all events and their associated probabilities above a certain return period. This is particularly important when there are losses farther out on the ‘tail’ of a loss distribution. TCE addresses this by incorporating an analysis of these high severity/low probability losses.

Functionality has also been added to RiskBrowser to evaluate the impact of adding an account to a company’s existing portfolio. Specifically, when evaluating an account, underwriters can now see the change in portfolio exceeding probability (EP) losses and the change in portfolio TCE. This capability provides additional analysis options to evaluate an account during the underwriting process, before an account is bound.