Oasis is a flexible plug-and-play framework.

As illustrated below, it allows hazard, vulnerability and user-interface specialists to plug in so that their products can be used:

• To produce damage functions and estimated event frequencies.
• To capture exposure data (location details, building characteristics, occupancy type, insured value).
• To capture insurance and reinsurance policy structure information (limits, deductibles, coverages).

All of this feeds into a ground-up loss module—a key component of the Oasis Kernel—which combines hazard intensity with exposure data through the vulnerability measures of damage to compute the losses.

Using stochastic simulation, the ground-up loss module provides loss estimates together with associated probabilities (measures of uncertainty).

Combining results from the ground-up loss module and policy information plugged in outside the kernel, the Oasis system kernel computes financial losses to insurers and reinsurers based on policy terms and conditions (limits, deductibles, reinsurance and alternative risk transfer products).