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BREAKOUT SESSIONS
U.S. & Canada Winterstorm Modeling
Version 8.0 introduces a fully probabilistic winterstorm model
that explicitly models losses from snow, ice,
freezing temperatures, and extra-tropical winds across the
United States and Canada. The new model uses an innovative hybrid modeling approach
of numerical weather modeling and statistical techniques to
create a fully representative stochastic event set representing
30,000 years of winterstorm activity. This session will provide
a detailed look at both the hazard and vulnerability modeling
techniques being implemented, including the use of numerical
weather modeling. The session will also highlight applications
of the model results and how results can be combined with other
RMS models to provide a multi-peril
view of risk covering winterstorms, hurricanes, earthquakes, and
severe convective storms.
Data Quality Trends in the Market**
In the past year, RMS has been working closely with clients to
assess and review the quality of their exposure data.
This session will discuss some of the findings from those
engagements, including: common data problems in the market, the
impact of geocoding resolution, the impact of missing or unknown data,
and data biases. It will also review best practice methods for
assessing data accuracy and running sensitivity analyses to help understand
the variation in model results due to data quality issues.
The discussion will cover issues related to both personal lines
and commercial lines, with relevance for both primary
and reinsurance companies. (Repeated Thursday at 3:15 pm)
Pre-screening, Rating, and Pricing Risk
Using Hazard Data
The 2007 California wildfires and the U.K. summer floods illustrated the need for accurate tools
for point-of-underwriting assessment and pricing of risk, as well as when managing portfolios.
This session will demonstrate how RMS hazard datasets are an effective tool for quantifying the location level risk
from a variety of hazards. As examples, we will show how RMS
Wildfire Data was used to identify areas
susceptible to wildfires in California, and demonstrate
how the new RMS U.K. Flood Risk Assessment maps can be used to
assess the risk from inland flooding. The session will
also include a demonstration of new tools that can be used to
retrieve hazard lookups and view associated maps for multiple
European countries and perils that can be embedded seamlessly
within existing applications.
Bringing Science to Modeling Future Mortality
Across the financial markets, the fragility of risk projections
based on purely statistical models is being revealed. Longevity
risk is an important example. This session will present a science-based approach to
modeling future mortality that tracks the
mortality risk of individuals, accounting for the principal risk
factors. Analysis of portfolio aggregation provides new insight
into quantifying risk metrics for mortality risk management.
This presentation is for those broadly interested in health care, social
security, individual retirement planning, demographics
̶ and
living longer.
Querying Data from RiskLink®
Tables**
Viewing data from within RiskLink is a very effective method to
analyze exposure and results data, but with just a basic knowledge
of Microsoft Access or SQL, you can take analyzing RiskLink data
to a new level. The focus of this session will be to provide
basic techniques on how to query data directly from the back-end
tables. We will examine how to extract primary exposure
characteristics as well as common industry loss metrics. In
addition, we will explore some uncommon methods for unlocking
data from RiskLink. (Repeated Thursday at 3:15 pm)
Intro to Vulnerability Classifications and Coding Construction
Classes
This session will review the basics of vulnerability
modeling in RMS peril models, with and emphasis on proper
identification of both primary and secondary construction
characteristics. Case studies will examine the impact of primary characteristics on
vulnerability and how to identify the correct construction codes
to assign to individual risks. This session is recommended for
new users and individuals preparing for the RMS CAT Program.
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