Eqecat, RMS to share catastrophe exposure database frameworks

Catastrophe modeling firms Eqecat Inc. and Risk Management Solutions Inc. have entered into an agreement to share exposure database schemas, or frameworks.

The multiyear agreement aims to address the challenge for companies that use multiple catastrophe models that each requires separate propriety database schemas, Oakland, Calif.-based Eqecat said in a statement Thursday.

“Workflow inefficiencies of moving and translating exposure between models is a time-consuming exercise, and this collaboration is going to save many man-hours,” said Paul Little, president of Eqecat, in the statement.

The terms of the agreement do “not include nor ... impose any restrictions on the operationalization of results data to or from either Eqecat or RMS platforms,” Eqecat said in the statement.

Newark, Calif.-based RMS could not immediately be reached for comment.