RMS Launches Wholesale Broker RiskBrowser® Platform

New Catastrophe Risk Modeling Platform Specifically Created for the Wholesale Broker Community
 

Newark, CA – December 18, 2007 – Risk Management Solutions, the world’s leading provider of products and services for catastrophe risk management, has launched the Wholesale Broker RiskBrowser® platform. This system provides access to RMS’ industry-leading catastrophe risk models in a format specifically tailored to the needs and resources of wholesale brokers.

The Wholesale Broker RiskBrowser platform allows users to analyze specific catastrophic exposures on behalf of retail brokers and their insureds. The platform provides hazard information for each insured location and runs exposure data through the RMS U.S. Hurricane and Earthquake models. It automatically creates a complete risk assessment report that includes detailed exposure analysis, hazard data analysis, and modeling results.

“One of Colemont’s core beliefs revolves around continually adding new value to our retail partner relationships. Licensing the RiskBrowser platform enables us to do that in a substantial way,” said David Stevoff, chief operating officer of Colemont Insurance Brokers. "By equipping retailers and insureds with information that has not historically been available to them, Colemont will now help insureds better understand their exposures, while simultaneously helping our retail partners utilize available capacity."

Designed as a simple-to-use, streamlined process, the Wholesale Broker RiskBrowser platform delivers risk assessment reports in a format that eliminates the need for copying, pasting or reformatting data. In addition, the models are installed and maintained on RMS-hosted servers, accessible via a secure Internet connection. Licensed users need only install a small file on their computers to use the system.

“Recent catastrophes have put an emphasis on the need for better risk management practices,” said John Klag, executive vice president/chief operating officer of Westrope, which also licenses the Wholesale Broker RiskBrowser platform. “Understanding exposure to catastrophic loss is critical to making solid risk management decisions. RMS was chosen for its position as the market leader with a state-of-the-art catastrophe model that reflects the latest in scientific research and data availability.”

“We are sensitive to the demands of the wholesale insurance transaction, and believe that catastrophe risk assessments offer an invaluable, easy-to-access resource,” said Scott Quiana, vice president of the Americas insurance practice at RMS. “Until now, wholesale brokers have not had the opportunity to leverage catastrophe risk models for the benefit of their clients; with this solution we are seeking to change that.”