Boston-based Karen Clark & Co. has introduced RiskInsight, an open platform for catastrophe risk management for insurers and reinsurers.
The platform is a fully probabilistic loss estimation tool capable of generating exceedance probability curves, probable maximum losses and average annual losses, the modeling firm said in a statement. RiskInsight now provides all of the risk metrics of a traditional catastrophe model plus the unique characteristic event loss estimates,” the company said.
Unlike other cat modeling tools, RiskInsight's components are fully transparent and can be customized by the user, the modeling firm said.
“RiskInsight is also the only modeling platform that gives companies CE loss estimates for selected return periods — the flip side of what they get from the EP curves,” said Karen Clark, CEO of Karen Clark & Co., in the statement.
More information is available here.