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Karen Clark & Co. has released the R14 update to the RiskInsight open loss modeling platform.
The RiskInsight updates include enhanced global mapping capabilities, more detailed and interactive underwriter and CEO dashboards, and advanced model-building tools, according to a statement from Boston-based Karen Clark & Co.
The updates, released Monday, will “make it easier for model builders to create high-resolution probabilistic catastrophe models reflecting their own knowledge, expertise and views of risk,” according to the statement.
“We've listened very carefully to our clients, and R14 is designed for modeling experts who want full transparency on model assumptions and the flexibility to build sophisticated custom models efficiently and scientifically,” Karen Clark, KCC co-founder and CEO, said in the statement.
Governmental entities must develop financial resiliency to wildfires, and innovative public-private insurance programs could be part of that solution, according to a study released Thursday by Swiss Re Ltd. and Johns Hopkins University’s School of Advanced International Studies.