RMS Wins Risk Modelling Award for Latin American Markets

Swiss Re has estimated total reinsurance industry losses of US$95bn from the three 2017 hurricanes; Harvey, Irma and Maria - By NOAA/CIR [Public domain], via Wikimedia Commons

RMS, the market leader in global risk modeling and analytics, announced today that it was named the Latin America Risk Modeller of the Year for the second year in a row at this year’s Reactions Sixth Annual Latin America Insurance and Reinsurance Awards. This award recognizes RMS’ delivery of best-in-class insights during last year’s catastrophic events to the region’s re/insurance industry, as well as its continued commitment to helping the region’s players.

For many insurance operators of the Caribbean and Latin American region, 2017 was a true wakeup call, with insured losses from disaster events climbing to USD $47 billion. Victor Roldán, regional head for Latin America at RMS said: “RMS models and reconnaissance efforts helped licensed customers and the industry to understand their total exposed limits with greater precision. Last year’s events ‘road-tested’ the capability and efficacy of our models, while companies that used lesser analytical approaches found themselves over estimating their losses and reporting wrong numbers.”

RMS robust data sets have enabled clients to take advantage of more predictive risk management practices, as experienced firsthand by clients using RMS models to price risks in Puerto Rico and Mexico. Roldán said, “Sophisticated underwriters are able to channel RMS science not only to avoid risk, but to develop profitable solutions to enable them to take advantage of global opportunities.”

RMS was awarded the Latin America Risk Modeler of the Year in 2017 due to its delivery of new risk modeling capabilities and insight that helped the region’s insurers protect and expand their business globally including RMS Mexico Earthquake Model, RMS North Atlantic Hurricane Model, and RMS China Agriculture Model. RMS 2018 award highlights the value of RMS’ investment in addressing the evolving business needs of the region.

“Following on from last year’s catastrophes, our judges had a tough task in deciding who should win the Risk Modeler of the Year category at the Reactions Latin America Awards. But ultimately, the panel decided that RMS should be rewarded for the support and services it provided to the Latin American re/insurance industry in 2017,” said Christopher Munro, managing editor with Reactions, part of Euromoney Institutional Investor, “We at Reactions offer our congratulations to RMS for winning this category for the second year in a row.”

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