Catastrophe modeling firm AIR Worldwide on Monday announced that its next-generation software platform, Touchstone, will include the ability to account for both catastrophe and non-catastrophe risks in a single platform to provide companies with a more comprehensive view of their risk.

Adding non-catastrophe analytics to Touchstone will allow companies to analyze the non-catastrophe risk of property exposures—such as fire, lightning, explosion, vandalism, sprinkler leakage, fallen trees and wind—using the same exposure data that has been input for catastrophe modeling. Users will be able to manage both in one streamlined workflow, saving them valuable time by making analysis of individual direct and facultative accounts and per risk reinsurance portfolios easier and more efficient.

Within Touchstone, users will be able to perform the following analyses:

  • Calculate non-catastrophe expected losses for each location within an exposure data set.
  • Distribute non-catastrophe expected losses into excess-of-loss layers.
  • Launch catastrophe and non-catastrophe analysis for the same exposure data.
  • View and export both catastrophe and non-catastrophe analysis results.

“The next generation of catastrophe modeling must offer solutions that empower companies, not hold them captive,” says Ming Lee, president and CEO of AIR Worldwide, in a statement. “Our vision for Touchstone is driven by our goal to provide the broadest range of analytics and services to help our clients develop a comprehensive risk management strategy, beyond our traditional focus on catastrophe events.”

Source: AIR Worldwide

Topics Catastrophe Trends Risk Management